Charter Hall’s REIT helped by exposure to industrials
Three high-quality acquisitions which helped to increase exposure of Charter Hall Long WALE REIT (CLW) to the industrial and logistics sector have pushed statutory profit for half year period ending 31 December to $589.6 million.
At the same time, CLW’s net property valuation showed an 8.3% uplift compared to the previous year, and stood at $523 million. Also, at the end of December, CLW’s property portfolio grew to $7 billion from $5.6 billion as of 30 June, 2021.
Overall, the total property portfolio grew by $1.42 billion to $6.98 billion for the period, and was driven by $923 million of acquisitions and $532 million in property revaluation uplift.
In the announcement made to the Australian Securities Exchange (ASX), Charter Hall Long WALE REIT’s fund manager, Avi Anger, said that during this time the fund successfully completed the acquisition of the ALE Property Group in partnership with superannuation fund Hostplus.
This would bring more diversity and resilience to the portfolio through higher exposure to Australia’s hospitality operator, Endeavour Group.
In addition, the three acquisitions which took place during the reported period, and two of which were secured off-market, positively contributed through the increased exposure of the fund to the industrial and logistics sector.
As far as the FY22 guidance was concerned, the real estate investment trust (REIT) confirmed, barring any unforeseen events, its FY22 operating earnings per share (EPS) would be no less than 30.5 cents.
AUTHOR
Oksana Patron
Recommended for you
Perpetual has appointed a new CEO for affiliate J O Hambro Capital Management, as it tries to stem outflows and refresh the brand.
Outflows of US$1.4 billion from its US equity funds have contributed to GQG Partners reporting its highest monthly outflows for 2025 in August.
Domestic equity managers are lagging the ASX 200 in the first half of the year, according to S&P, with almost three-quarters of Australian equity funds underperforming over the six-month period.
ETFs saw almost $5 billion of inflows during August, with international equities gaining double those of fixed income funds, as total assets close in on $300 billion.
