Charter Hall Long WALE REIT first-half operating earnings lift 2%
Make us a preferred source
Make us a preferred source on Google
The news: Property investor Charter Hall Long WALE REIT reported first-half operating earnings were 2% higher at $90.6 million or 12.75 cents per security, in line with consensus estimates of $91 million, according to Visible Alpha.
The numbers: It also reported a 209% increase in statutory profit to $153.6 million, ahead of average forecasts of $146 million.
The company declared distributions of 12.75 cents per share, higher than the 12.50 cents declared a year earlier, but just below consensus estimates of 12.81 cents per share.
FY26 guidance for operating earnings per security was reiterated at 25.5 cents and distributions per security at 25.5 cents.
The context: During the period, the fund had 86% of its portfolio independently valued and recorded a net valuation uplift of $139 million, or 2.8% over the revalued properties. The fund also saw $376 million of net transactions as acquisitions out paced divestment.
What they said: "The operational performance of the REIT remains strong, a reflection of its high-quality portfolio of long WALE Net Lease investments, Charter Hall Long WALE REIT fund manager Avi Anger said.
The source: ASX
