Charter Hall Social Infrastructure REIT gains as it upgrades guidance
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The news: Shares in Charter Hall Social Infrastructure REIT (CQE) gained on the ASX after the property investor increased its full-year distribution guidance.
The numbers: CQE shares were up 8.1% to $2.79 by 1pm AEDT.
The REIT raised its FY25 distribution guidance from 15 cents to 15.2 cents per unit.
During the six months to December, statutory earnings swung positive to $31 million from a loss of $10.9 million in the prior corresponding period.
However, CQE reported operating earnings of $28.5 million, or 7.6 cents per unit. This was down from $29.6 million, or 8 cents per unit, a year earlier.
Distributions of 7.5 cents per unit also lowered from 8 cents per unit this time last year.
The context: CQE said it expects "significant growth opportunities" in social infrastructure assets, driven by favourable demographic trends and the "essential natural of the industry", including government backing.
The source: ASX announcement
