CHARTER HALL LONG WALE REIT (CLW)
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CLW

CLW - CHARTER HALL LONG WALE REIT

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 15.73
Index: ASX200 | ASX300 | ALL-ORDS

Charter Hall Long WALE is an Australian Real Estate Trust investing in real estate assets that are predominantly leased to corporate and government tenants. It has been listed since 2016.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.87

20 Feb
2025

-0.020

OPEN

$3.83

-0.51%

HIGH

$3.91

1,442,889

LOW

$3.83

TARGET
$4.00 3.4% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
CLW: 1
Title FY23
Actual
FY24
Actual
FY25
Forecast
FY26
Forecast
EPS (cps) xxx - 70.7 25.0 xxx
DPS (cps) xxx 26.0 25.1 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx - 7.1% - 3.5% xxx
PE Ratio xxx N/A 15.5 xxx
Dividend Yield xxx N/A 6.5% xxx
Div Pay Ratio(%) xxx N/A 100.4% xxx

Dividend yield today if purchased 3 years ago: 5.17%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

6.70

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: 30/12 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-70.7
DPS All xxxxxxxxxxxxxxx26.0
Sales/Revenue xxxxxxxxxxxxxxx203.2 M
Book Value Per Share xxxxxxxxxxxxxxx466.1
Net Operating Cash Flow xxxxxxxxxxxxxxx187.3 M
Net Profit Margin xxxxxxxxxxxxxxx-251.44 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-13.73 %
Return on Invested Capital xxxxxxxxxxxxxxx-9.22 %
Return on Assets xxxxxxxxxxxxxxx-8.92 %
Return on Equity xxxxxxxxxxxxxxx-13.73 %
Return on Total Capital xxxxxxxxxxxxxxx1.96 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-4.4 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 xxxxxxxxxxxxxxx1,705 M
Total Debt xxxxxxxxxxxxxxx1,705 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx23 M
Price To Book Value xxxxxxxxxxxxxxx0.70

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx0.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.00 %
Cost of Goods Sold xxxxxxxxxxxxxxx67 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx28 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx2,519 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

0.0

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

10/02/2025

3

Neutral

$4.18

8.01%

Charter Hall Long WALE REIT's 1H25 operating earnings of 12.5c per security proved 3% higher than UBS' forecast and 2% higher than consensus, driven by divestment and buyback timing.

With valuations now at the trough, the broker thinks the focus will turn to growing earnings. The broker has incorporated the latest result and revised inflation and interest rate assumptions (one cut in 2H25, two each in FY26 and FY27) into the forecasts.

The broker notes the REIT's growth will be muted without rate cuts, and even if there are cuts, balance sheet constraints will likely prevent substantial acquisitions to lift earnings growth beyond the sector level. In other words, the broker sees better value elsewhere.

Target rises to $4.18 from $4.15. Neutral maintained.

FORECAST
UBS forecasts a full year FY25 dividend of 25.00 cents and EPS of 25.00 cents.
UBS forecasts a full year FY26 dividend of 23.00 cents and EPS of 23.00 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

Jarden

12/02/2025

4

Underweight

$3.80

-1.81%

Jarden believes Charter Hall Long WALE REIT CLW made good progress in improving its portfolio and capital structure but notes rental growth is slowing in a lower inflationary environment.

The broker expects the weighted average cost of debt to increase by 100bps over the next 18 months, putting pressure on earnings.

The broker reckons new asset recycling initiatives could boost this growth, but could be challenging given the cost of capital.

The analysts lowered FY25 and FY26 EPS forecasts by -0.3% and -4.0% respectively. Underweight rating and $3.8 target price.

FORECAST
Jarden forecasts a full year FY25 dividend of 24.90 cents and EPS of 25.00 cents.
Jarden forecasts a full year FY26 dividend of 24.50 cents and EPS of 24.60 cents.

CLW STOCK CHART