CHARTER HALL LONG WALE REIT (CLW)
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CLW - CHARTER HALL LONG WALE REIT

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 12.67
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

$3.39

25 Jul
2024

-0.050

OPEN

$3.40

-1.45%

HIGH

$3.43

1,229,654

LOW

$3.38

TARGET
$3.614 6.6% upside
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . ASK . BWP . CDP . CDP . CHC . CIP . 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
CLW: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx - 26.1 26.0 xxx
DPS (cps) xxx 28.0 26.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A - 7.1% xxx
PE Ratio xxx N/A 13.2 xxx
Dividend Yield xxx N/A 7.6% xxx
Div Pay Ratio(%) xxx N/A 100.1% xxx

Dividend yield today if purchased 3 years ago: 5.70%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 8.16

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 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx-26.1
DPS All xxxxxxxxxxxxxxx28.0
Sales/Revenue xxxxxxxxxxxxxxx222.5 M
Book Value Per Share xxxxxxxxxxxxxxx562.9
Net Operating Cash Flow xxxxxxxxxxxxxxx179.7 M
Net Profit Margin xxxxxxxxxxxxxxx-84.94 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx-4.43 %
Return on Invested Capital xxxxxxxxxxxxxxx-3.07 %
Return on Assets xxxxxxxxxxxxxxx-2.98 %
Return on Equity xxxxxxxxxxxxxxx-4.43 %
Return on Total Capital xxxxxxxxxxxxxxx2.49 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-27.3 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 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx1,941 M
Total Debt xxxxxxxxxxxxxxx1,941 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx20 M
Price To Book Value xxxxxxxxxxxxxxx0.71

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx0.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.00 %
Cost of Goods Sold xxxxxxxxxxxxxxx65 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx4 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx3,564 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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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

27/06/2024

3

Neutral

$3.50

3.24%

Citi observes the asset sale program is largely complete for Charter Hall Long WALE REIT resulting in $684.5m of sales proceeds, reducing gearing to 36.4% from 41.2%.

The broker highlights the asset sales were executed at large discounts to book values, implying significant valuation declines and believes there is potential downside to earnings in FY26 as debt costs reset to market levels.

Earnings estimates for FY24 and FY25 are tweaked by -0.2% and -3.1% by the analyst.

Target price lowered to $3.50 from $3.90. Neutral rating unchanged.

FORECAST
Citi forecasts a full year FY24 dividend of 26.00 cents and EPS of 26.00 cents.
Citi forecasts a full year FY25 dividend of 26.20 cents and EPS of 26.20 cents.

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial
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

21/06/2024

4

Underweight

$3.60

6.19%

Within Jarden's coverage of the Australian REIT sector, weighted-average funds from operations (FFO) growth forecasts are starting to improve for FY25 and FY26 to 3.6% and 7.9%, respectively, from -2.2% in FY24.

The broker believes downside risk to asset values is well reflected in current valuations, and REITs are increasingly moving to offence from defence.

Excluding Goodman Group (which remains the best quality stock in the sector), the analysts see around 18% upside to 12-month target prices.

The Underweight rating for Charter Hall Long WALE REIT is retained and the target decreased to $3.60 from $3.80. Due to high gearing and pressure on both net tangible assets (NTA) and FFO, Jarden sees better value elsewhere in the sector.
Access Stockbroker Research History >

CLW STOCK CHART

FNArena News on CLW

1
Australian Broker Call *Extra* Edition – Jun 21, 2024

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Mar 20 2024 - Rudi's View

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