ARENA REIT (ARF)
Share Price Analysis and Chart

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ARF - ARENA REIT

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: N/A
Index: ASX200 | ASX300 | ALL-ORDS

Arena REIT is an Australian real estate investment trust with a portfolio of properties focussed on childcare, healthcare, education and government tenanted facilities. It has been listed since 2013.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.04

20 Nov
2024

-0.060

OPEN

$4.14

-1.46%

HIGH

$4.14

677,743

LOW

$4.01

TARGET
$4.353 7.7% upside
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ASK . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DXC . DXI . DXS . ECF . GDF . GDI . HCW . HDN . NSR . PLG . REP . RFF . RGN . SCG . TGP . URW . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
ARF: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 16.1 18.7 xxx
DPS (cps) xxx 17.4 18.2 xxx
EPS Growth xxx - 22.8% 16.4% xxx
DPS Growth xxx 3.6% 4.6% xxx
PE Ratio xxx N/A 21.4 xxx
Dividend Yield xxx N/A 4.5% xxx
Div Pay Ratio(%) xxx 108.1% 97.2% xxx

Dividend yield today if purchased 3 years ago: 3.95%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.34

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 27/06 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx16.1
DPS All xxxxxxxxxxxxxxx17.4
Sales/Revenue xxxxxxxxxxxxxxx98.2 M
Book Value Per Share xxxxxxxxxxxxxxx340.8
Net Operating Cash Flow xxxxxxxxxxxxxxx62.5 M
Net Profit Margin xxxxxxxxxxxxxxx58.00 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx4.72 %
Return on Invested Capital xxxxxxxxxxxxxxx3.64 %
Return on Assets xxxxxxxxxxxxxxx3.57 %
Return on Equity xxxxxxxxxxxxxxx4.72 %
Return on Total Capital xxxxxxxxxxxxxxx5.34 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-41.4 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx377 M
Total Debt xxxxxxxxxxxxxxx377 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx12 M
Price To Book Value xxxxxxxxxxxxxxx1.14

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx60.6 M
Capex % of Sales xxxxxxxxxxxxxxx61.69 %
Cost of Goods Sold xxxxxxxxxxxxxxx1 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx13 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1,594 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.4

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Macquarie

16/08/2024

1

Outperform

$4.15

2.72%

Macquarie observes the FY25 guidance for Arena REIT was 3% better than anticipated with July reaping positive hedging and transactions.

Notably, the highlight was additional funding due to the Federal Government's 15% wage increase in the early learning sector. 

The broker notes daily fee increases will be capped at 4.4% in the year ahead, leading to better profitability for operators, with flow on impacts to tenant covenants and rental growth in the medium term.

Macquarie adjusts EPS forecasts by 0.4% and 1.6% in FY25/FY26, respectively.

Target price advances 3% to $4.15 with an unchanged Outperform rating.

FORECAST
Macquarie forecasts a full year FY25 dividend of 18.30 cents and EPS of 18.60 cents.
Macquarie forecasts a full year FY26 dividend of 18.90 cents and EPS of 19.30 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

(xx/xx/xxxx)

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Moelis

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Jarden

01/08/2024

2

Overweight

$4.30

6.44%

Jarden is positive on the recent $58m portfolio acquisition, the four new development sites and the capital raise for Arena REIT, which are all expected to assist in generating growth.

The analyst forecasts the REIT can generate between 5%-6% compound annual growth in funds from operations over the next three years.

Arena REIT pre-released its FY24 results which were in line with the broker's estimate and the FY25 dividend guidance of 18.25c exceeded previous forecasts.

Overweight rating and $4.30 target remain.

FORECAST
Jarden forecasts a full year FY25 dividend of 18.20 cents and EPS of 18.50 cents.
Access Extra Coverage Research History >

ARF STOCK CHART

FNArena News on ARF

1
Australian Broker Call *Extra* Edition – Aug 20, 2024

Aug 20 2024 - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 16-08-24

Aug 19 2024 - Weekly Reports
3
FNArena Corporate Results Monitor – 16-08-2024

Aug 16 2024 - Australia
4
Rudi’s View: Model Portfolios, Best Ideas & Conviction Calls

Aug 15 2024 - Rudi's View
5
Rudi’s View: First Relief, Then More Selling?

Aug 08 2024 - Rudi's View

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