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Charter Hall Retail Real Estate Investment Trust

ASX:CQR
Snowflake Description

Average dividend payer and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CQR
ASX
A$2B
Market Cap
  1. Home
  2. AU
  3. Real Estate
Company description

Charter Hall Retail REIT is a leading listed real estate investment trust with a portfolio of high quality Australian supermarket anchored neighbourhood and sub-regional shopping centres. The last earnings update was 59 days ago. More info.


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CQR Share Price and Events
7 Day Returns
0.7%
ASX:CQR
0.1%
AU REITs
1.3%
AU Market
1 Year Returns
5.4%
ASX:CQR
20.5%
AU REITs
9.9%
AU Market
CQR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Charter Hall Retail Real Estate Investment Trust (CQR) 0.7% 0.7% -3.1% 5.4% 2.4% 13.7%
AU REITs 0.1% 0.4% -2.8% 20.5% 23.4% 58.9%
AU Market 1.3% -0.6% -1% 9.9% 17.6% 17.8%
1 Year Return vs Industry and Market
  • CQR underperformed the REITs industry which returned 20.5% over the past year.
  • CQR underperformed the Market in Australia which returned 9.9% over the past year.
Price Volatility
CQR
Industry
5yr Volatility vs Market

Value

 Is Charter Hall Retail Real Estate Investment Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Charter Hall Retail Real Estate Investment Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Charter Hall Retail Real Estate Investment Trust.

ASX:CQR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.1%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ASX:CQR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.47 (1 + (1- 30%) (50.96%))
0.606
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (0.8 * 5.96%)
7.08%

Discounted Cash Flow Calculation for ASX:CQR using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

ASX:CQR Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$6.12
Current discount Discount to share price of A$4.32
= -1 x (A$4.32 - A$6.12) / A$6.12
29.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Charter Hall Retail Real Estate Investment Trust is available for.
Intrinsic value
29%
Share price is A$4.32 vs Future cash flow value of A$6.12
Current Discount Checks
For Charter Hall Retail Real Estate Investment Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Charter Hall Retail Real Estate Investment Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Charter Hall Retail Real Estate Investment Trust's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Charter Hall Retail Real Estate Investment Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Charter Hall Retail Real Estate Investment Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:CQR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in AUD A$0.13
ASX:CQR Share Price ** ASX (2019-10-11) in AUD A$4.32
Australia REITs Industry PE Ratio Median Figure of 38 Publicly-Listed REITs Companies 15.7x
Australia Market PE Ratio Median Figure of 557 Publicly-Listed Companies 17.93x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Charter Hall Retail Real Estate Investment Trust.

ASX:CQR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:CQR Share Price ÷ EPS (both in AUD)

= 4.32 ÷ 0.13

33.47x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Charter Hall Retail Real Estate Investment Trust is overvalued based on earnings compared to the AU REITs industry average.
  • Charter Hall Retail Real Estate Investment Trust is overvalued based on earnings compared to the Australia market.
Price based on expected Growth
Does Charter Hall Retail Real Estate Investment Trust's expected growth come at a high price?
Raw Data
ASX:CQR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 33.47x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
13.6%per year
Australia REITs Industry PEG Ratio Median Figure of 31 Publicly-Listed REITs Companies 1.2x
Australia Market PEG Ratio Median Figure of 357 Publicly-Listed Companies 1.69x

*Line of best fit is calculated by linear regression .

ASX:CQR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 33.47x ÷ 13.6%

2.46x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Charter Hall Retail Real Estate Investment Trust is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Charter Hall Retail Real Estate Investment Trust's assets?
Raw Data
ASX:CQR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in AUD A$4.08
ASX:CQR Share Price * ASX (2019-10-11) in AUD A$4.32
Australia REITs Industry PB Ratio Median Figure of 43 Publicly-Listed REITs Companies 1.11x
Australia Market PB Ratio Median Figure of 1,705 Publicly-Listed Companies 1.8x
ASX:CQR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:CQR Share Price ÷ Book Value per Share (both in AUD)

= 4.32 ÷ 4.08

1.06x

* Primary Listing of Charter Hall Retail Real Estate Investment Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Charter Hall Retail Real Estate Investment Trust is good value based on assets compared to the AU REITs industry average.
X
Value checks
We assess Charter Hall Retail Real Estate Investment Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Charter Hall Retail Real Estate Investment Trust has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Charter Hall Retail Real Estate Investment Trust expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
13.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Charter Hall Retail Real Estate Investment Trust expected to grow at an attractive rate?
  • Charter Hall Retail Real Estate Investment Trust's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Charter Hall Retail Real Estate Investment Trust's earnings growth is expected to exceed the Australia market average.
  • Charter Hall Retail Real Estate Investment Trust's revenues are expected to decrease over the next 1-3 years, this is below the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:CQR Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:CQR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 13.6%
ASX:CQR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts -7.8%
Australia REITs Industry Earnings Growth Rate Market Cap Weighted Average 2.5%
Australia REITs Industry Revenue Growth Rate Market Cap Weighted Average -3.7%
Australia Market Earnings Growth Rate Market Cap Weighted Average 10.2%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ASX:CQR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:CQR Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-06-30 176 148 148 4
2021-06-30 178 139 138 6
2020-06-30 175 152 165 6
2019-10-13
ASX:CQR Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-06-30 222 114 53
2019-03-31 224 116 87
2018-12-31 232 117 121
2018-09-30 238 118 134
2018-06-30 239 118 146
2018-03-31 240 117 150
2017-12-31 242 117 153
2017-09-30 257 121 202
2017-06-30 272 125 251
2017-03-31 278 123 253
2016-12-31 284 120 255
2016-09-30 265 118 218

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Charter Hall Retail Real Estate Investment Trust's earnings are expected to grow by 13.6% yearly, however this is not considered high growth (20% yearly).
  • Charter Hall Retail Real Estate Investment Trust's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ASX:CQR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Charter Hall Retail Real Estate Investment Trust Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:CQR Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-06-30 0.33 0.33 0.33 1.00
2021-06-30 0.31 0.32 0.30 3.00
2020-06-30 0.50 0.50 0.50 1.00
2019-10-13
ASX:CQR Past Financials Data
Date (Data in AUD Millions) EPS *
2019-06-30 0.13
2019-03-31 0.21
2018-12-31 0.30
2018-09-30 0.33
2018-06-30 0.36
2018-03-31 0.37
2017-12-31 0.38
2017-09-30 0.50
2017-06-30 0.62
2017-03-31 0.63
2016-12-31 0.63
2016-09-30 0.54

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Charter Hall Retail Real Estate Investment Trust is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Charter Hall Retail Real Estate Investment Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Charter Hall Retail Real Estate Investment Trust has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Charter Hall Retail Real Estate Investment Trust performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Charter Hall Retail Real Estate Investment Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Charter Hall Retail Real Estate Investment Trust's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Charter Hall Retail Real Estate Investment Trust's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Charter Hall Retail Real Estate Investment Trust's 1-year earnings growth is negative, it can't be compared to the AU REITs industry average.
Earnings and Revenue History
Charter Hall Retail Real Estate Investment Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Charter Hall Retail Real Estate Investment Trust Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:CQR Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 222.00 53.10
2019-03-31 224.00 87.10
2018-12-31 231.90 121.10
2018-09-30 238.40 133.75
2018-06-30 239.00 146.40
2018-03-31 240.30 149.80
2017-12-31 241.60 153.20
2017-09-30 257.00 202.25
2017-06-30 272.40 251.30
2017-03-31 278.15 253.25 -0.85
2016-12-31 283.90 255.20 -1.70
2016-09-30 265.10 217.95 -0.85
2016-06-30 246.30 180.70
2015-12-31 234.60 183.20 1.70
2015-09-30 230.70 177.75 0.85
2015-06-30 226.80 172.30
2014-12-31 223.00 160.90
2014-09-30 215.80 147.15
2014-06-30 208.60 133.40
2014-03-31 202.30 121.95
2013-12-31 196.00 110.50
2013-09-30 190.25 90.55
2013-06-30 184.50 70.60
2013-03-31 179.05 57.75
2012-12-31 173.60 44.90

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Charter Hall Retail Real Estate Investment Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Charter Hall Retail Real Estate Investment Trust used its assets less efficiently than the AU REITs industry average last year based on Return on Assets.
  • Charter Hall Retail Real Estate Investment Trust's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Charter Hall Retail Real Estate Investment Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Charter Hall Retail Real Estate Investment Trust has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Charter Hall Retail Real Estate Investment Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Charter Hall Retail Real Estate Investment Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Charter Hall Retail Real Estate Investment Trust's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Charter Hall Retail Real Estate Investment Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Charter Hall Retail Real Estate Investment Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Charter Hall Retail Real Estate Investment Trust Company Filings, last reported 3 months ago.

ASX:CQR Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 1,800.70 974.20 4.80
2019-03-31 1,800.70 974.20 4.80
2018-12-31 1,698.00 865.30 10.30
2018-09-30 1,698.00 865.30 10.30
2018-06-30 1,696.50 930.10 61.40
2018-03-31 1,696.50 930.10 61.40
2017-12-31 1,689.80 980.30 10.50
2017-09-30 1,689.80 980.30 10.50
2017-06-30 1,674.50 910.10 58.70
2017-03-31 1,674.50 910.10 58.70
2016-12-31 1,667.20 848.30 16.50
2016-09-30 1,667.20 848.30 16.50
2016-06-30 1,532.20 815.70 12.20
2015-12-31 1,502.30 783.30 15.80
2015-09-30 1,502.30 783.30 15.80
2015-06-30 1,349.70 664.30 7.50
2014-12-31 1,312.10 706.20 20.30
2014-09-30 1,312.10 706.20 20.30
2014-06-30 1,255.10 617.80 12.00
2014-03-31 1,255.10 617.80 12.00
2013-12-31 1,218.00 604.50 14.30
2013-09-30 1,218.00 604.50 14.30
2013-06-30 1,121.10 650.20 17.30
2013-03-31 1,121.10 650.20 17.30
2012-12-31 1,105.70 631.90 21.20
  • Charter Hall Retail Real Estate Investment Trust's level of debt (54.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (49.3% vs 54.1% today).
  • Debt is not well covered by operating cash flow (11.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.5x coverage).
X
Financial health checks
We assess Charter Hall Retail Real Estate Investment Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Charter Hall Retail Real Estate Investment Trust has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Charter Hall Retail Real Estate Investment Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.7%
Current annual income from Charter Hall Retail Real Estate Investment Trust dividends. Estimated to be 6.82% next year.
If you bought A$2,000 of Charter Hall Retail Real Estate Investment Trust shares you are expected to receive A$134 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Charter Hall Retail Real Estate Investment Trust's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.5%).
  • Charter Hall Retail Real Estate Investment Trust's dividend is above the markets top 25% of dividend payers in Australia (5.6%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ASX:CQR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
Australia REITs Industry Average Dividend Yield Market Cap Weighted Average of 40 Stocks 4.4%
Australia Market Average Dividend Yield Market Cap Weighted Average of 407 Stocks 4.2%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.6%
Australia Bottom 25% Dividend Yield 25th Percentile 2.5%
Australia Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ASX:CQR Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2022-06-30 0.30 6.00
2021-06-30 0.29 8.00
2020-06-30 0.29 8.00
2019-10-13
ASX:CQR Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-06-12 0.290 6.513
2018-12-12 0.286 6.239
2018-06-14 0.282 6.608
2017-12-04 0.280 7.025
2017-06-13 0.281 6.918
2016-12-08 0.282 6.551
2016-06-14 0.282 6.403
2015-12-17 0.280 6.310
2015-06-22 0.276 6.702
2014-12-04 0.274 6.318
2014-08-19 0.273 6.901
2013-12-10 0.273 7.268
2013-06-13 0.270 7.050
2013-01-10 0.266 6.630
2012-06-13 0.262 7.441
2012-02-16 0.260 8.151
2011-06-09 0.248 7.728
2011-02-22 0.235 7.381
2010-08-20 0.230 7.675
2009-12-08 0.300 10.767
2009-08-20 0.300 9.683
2009-02-24 0.400 26.066

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Charter Hall Retail Real Estate Investment Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (471.7x coverage).
X
Income/ dividend checks
We assess Charter Hall Retail Real Estate Investment Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Charter Hall Retail Real Estate Investment Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Charter Hall Retail Real Estate Investment Trust has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Charter Hall Retail Real Estate Investment Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David Harrison
AGE 53
CEO Bio

Mr. David William Harrison has been Group Chief Executive Officer and Managing Director at Charter Hall Group since February 16, 2016. He is responsible for all aspects of the Charter Hall business, with specific focus on strategy and continuing the momentum from building an Investment Manager recognized as a multi-core sector market leader. Mr. Harrison has several years of property market experience across office, retail and industrial sectors in multiple geographies globally. Mr. Harrison was Alternate Executive Director at Charter Hall Education Trust until November 2018. He serves as MD, and Group CEO of Charter Hall Retail Management Limited at Charter Hall Retail REIT. Mr. Harrison is responsible for investment management, strategy, corporate transactions and property investment activities at Charter Hall Group and overseeing the operation of the investment management divisions, including the listed REITs, wholesale unlisted and retail unlisted divisions, together with investor relations and transactions. Prior to this, he was a Managing Director at Savills in Australia. Mr. Harrison has transacted approximately $6 billion of commercial, retail and industrial property assets across all capital city of Australia over ten years. He serves as a Director of Charter Hall Office Management Limited. He has been an Executive Director of Charter Hall Retail Management Limited since March 1, 2010. He has been an Executive Director of Charter Hall WALE Limited at Charter Hall Long WALE REIT since February 16, 2016 and also serves as its Chief Executive Officer. Mr. Harrison serves as an Executive Director of Charter Hall Funds Management Ltd. He has overseen the growth of the Charter Hall Group from $500 million to $23.2 billion of assets under management in 14 years. He was a Director of Charter Hall Education Trust since December 17, 2018. Mr. Harrison has been an Executive Director of Charter Hall Group since August 30, 2006. He served as the Chairman of Charter Hall Office Management Limited until April 28, 2011. He has an extensive Australian commercial property markets experience. He is Director of Charter Hall Retail REIT. He is a Director and Vice-President of the Property Council of Australia. He is an executive member of various Fund Boards and Partnership Investment Committees, and Chair of the Executive Property Valuation Committee and Executive Leadership Group. He is also a member of the Property Male Champions of Change. Mr. Harrison is Fellow of the Australian Property Institute (FAPI). He holds a Bachelor of Business Degree in Land Economy from the Western Sydney University and Graduate Diploma in Applied Finance from Securities Institute of Australia.

CEO Compensation
  • Insufficient data for David to compare compensation growth.
  • Insufficient data for David to establish whether their remuneration is reasonable compared to companies of similar size in Australia.
Management Team Tenure

Average tenure of the Charter Hall Retail Real Estate Investment Trust management team in years:

1.9
Average Tenure
  • The average tenure for the Charter Hall Retail Real Estate Investment Trust management team is less than 2 years, this suggests a new team.
Management Team

David Harrison

TITLE
MD, Group CEO & Executive Director of Charter Hall Retail Management Limited
AGE
53

Philip Cheetham

TITLE
Head of Investor Relations of Charter Hall Retail Management Limited

Mark Bryant

TITLE
General Counsel & Company Secretary of Charter Hall Retail Management Limited

Christine Kelly

TITLE
Head of Retail Finance & Deputy Fund Manager

Steven Bennett

TITLE
Head of Direct Property & Fund Manager
TENURE
0.8 yrs

Greg Chubb

TITLE
CEO of Retail
COMPENSATION
A$785K
TENURE
1.9 yrs

Charisse Nortjé

TITLE
Company Secretary of Charter Hall Retail Management Limited

Francis Dundas

TITLE
Executive Officer
COMPENSATION
A$455K
TENURE
7.8 yrs

Richard Stacker

TITLE
Group Executive – Investor Relations Charter Hall
Board of Directors Tenure

Average tenure and age of the Charter Hall Retail Real Estate Investment Trust board of directors in years:

3.7
Average Tenure
62
Average Age
  • The tenure for the Charter Hall Retail Real Estate Investment Trust board of directors is about average.
Board of Directors

Roger Davis

TITLE
Chairman of Charter Hall Retail Management Limited
COMPENSATION
A$127K
AGE
67
TENURE
0.9 yrs

David Harrison

TITLE
MD, Group CEO & Executive Director of Charter Hall Retail Management Limited
AGE
53
TENURE
9.6 yrs

Greg Chubb

TITLE
CEO of Retail
COMPENSATION
A$785K
TENURE
3.7 yrs

Sue Palmer

TITLE
Non-Executive Director of Charter Hall Retail Management Limited
COMPENSATION
A$103K
AGE
62
TENURE
3.9 yrs

Michael Gorman

TITLE
Non-Executive Director of Charter Hall Retail Management Limited
COMPENSATION
A$97K
TENURE
2.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
05. Aug 19 Sell ASB Group Investments Ltd. Company 06. May 19 06. May 19 -19,300 A$4.62 A$-89,166
05. Aug 19 Buy ASB Group Investments Ltd. Company 05. Apr 19 01. Jul 19 46,509 A$4.39 A$204,325
05. Aug 19 Sell Colonial First State Asset Management (Australia) Limited Company 15. Feb 19 02. Aug 19 -3,328,498 A$4.66 A$-15,185,815
05. Aug 19 Buy Colonial First State Asset Management (Australia) Limited Company 15. Feb 19 23. Jul 19 2,977,806 A$4.48 A$13,176,272
03. Jul 19 Sell Vinva Investment Management Company 25. May 19 01. Jul 19 -93,881 A$4.49 A$-421,890
03. Jul 19 Buy Vinva Investment Management Company 25. May 19 01. Jul 19 45,565 A$4.62 A$210,457
28. May 19 Sell Vinva Investment Management Company 24. Jan 19 24. May 19 -275,042 A$4.58 A$-1,258,637
28. May 19 Buy Vinva Investment Management Company 24. Jan 19 24. May 19 11,881,952 A$4.56 A$54,135,193
09. Apr 19 Buy One Managed Investment Funds Limited Company 07. Apr 19 07. Apr 19 169,154 A$4.49 A$760,347
20. Mar 19 Sell The Vanguard Group, Inc. Company 19. May 17 08. Mar 19 -4,308,869 A$4.71 A$-20,173,068
20. Mar 19 Buy The Vanguard Group, Inc. Company 15. May 17 15. Mar 19 8,228,811 A$4.72 A$38,808,277
04. Dec 18 Sell Legg Mason, Inc. Company 22. Nov 18 29. Nov 18 -4,245,241 A$4.52 A$-19,202,193
04. Dec 18 Buy Legg Mason, Inc. Company 21. Nov 18 29. Nov 18 575,957 A$4.39 A$2,530,029
18. Feb 19 Sell Realindex Investments Pty Limited Company 17. May 18 14. Feb 19 -1,542,034 A$4.40 A$-6,785,481
18. Feb 19 Buy Realindex Investments Pty Limited Company 18. May 18 07. Feb 19 2,331,592 A$4.29 A$10,011,813
18. Feb 19 Sell ASB Group Investments Ltd. Company 19. Jun 18 31. Jan 19 -47,281 A$4.39 A$-207,417
18. Feb 19 Sell Colonial First State Asset Management (Australia) Limited Company 18. May 18 06. Feb 19 -371,424 A$4.37 A$-1,583,395
18. Feb 19 Buy Colonial First State Asset Management (Australia) Limited Company 24. May 18 07. Feb 19 5,307,500 A$4.56 A$23,181,682
15. Nov 18 Buy Michael Gorman Individual 15. Nov 18 15. Nov 18 11,400 A$4.37 A$49,817
X
Management checks
We assess Charter Hall Retail Real Estate Investment Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Charter Hall Retail Real Estate Investment Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

One Metric To Rule Them All: Charter Hall Retail Real Estate Investment Trust (ASX:CQR)

Charter Hall Retail Real Estate Investment Trust is a AU$1.9b small-cap, real estate investment trust (REIT) based in Sydney, Australia. … View our latest analysis for Charter Hall Retail Real Estate Investment Trust REIT investors should be familiar with the term Fund from Operations (FFO) – a REIT’s main source of cash flow from its day-to-day business activities. … Next Steps: Charter Hall Retail Real Estate Investment Trust can bring diversification into your portfolio due to its unique REIT characteristics.

Simply Wall St -

Could Charter Hall Retail Real Estate Investment Trust (ASX:CQR) Have The Makings Of Another Dividend Aristocrat?

Today we'll take a closer look at Charter Hall Retail Real Estate Investment Trust (ASX:CQR) from a dividend investor's perspective. … Some simple research can reduce the risk of buying Charter Hall Retail Real Estate Investment Trust for its dividend - read on to learn more. … It's positive to see that Charter Hall Retail Real Estate Investment Trust's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut.

Simply Wall St -

Should You Take Comfort From Insider Transactions At Charter Hall Retail Real Estate Investment Trust (ASX:CQR)?

For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year.' Check out our latest analysis for Charter Hall Retail Real Estate Investment Trust The Last 12 Months Of Insider Transactions At Charter Hall Retail Real Estate Investment Trust In the last twelve months, the biggest single purchase by an insider was when Chairman of Charter Hall Retail Management Limited Roger Davis bought AU$107k worth of shares at a price of AU$4.26 per share. … So What Do The Charter Hall Retail Real Estate Investment Trust Insider Transactions Indicate? … The transactions are fine but it'd be more encouraging if Charter Hall Retail Real Estate Investment Trust insiders bought more shares in the company.

Simply Wall St -

With A 7.1% Return On Equity, Is Charter Hall Retail Real Estate Investment Trust (ASX:CQR) A Quality Stock?

Check out our latest analysis for Charter Hall Retail Real Estate Investment Trust How Do You Calculate Return On Equity? … The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Charter Hall Retail Real Estate Investment Trust: 7.1% = AU$121m ÷ AU$1.7b (Based on the trailing twelve months to December 2018.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Combining Charter Hall Retail Real Estate Investment Trust's Debt And Its 7.1% Return On Equity While Charter Hall Retail Real Estate Investment Trust does have some debt, with debt to equity of just 0.51, we wouldn't say debt is excessive.

Simply Wall St -

Can We See Significant Institutional Ownership On The Charter Hall Retail Real Estate Investment Trust (ASX:CQR) Share Register?

The big shareholder groups in Charter Hall Retail Real Estate Investment Trust (ASX:CQR) have power over the company. … Charter Hall Retail Real Estate Investment Trust has a market capitalization of AU$2.1b, so we would expect some institutional investors to have noticed the stock. … See our latest analysis for Charter Hall Retail Real Estate Investment Trust ASX:CQR Ownership Summary, June 17th 2019 What Does The Institutional Ownership Tell Us About Charter Hall Retail Real Estate Investment Trust?

Simply Wall St -

Does Charter Hall Retail Real Estate Investment Trust's (ASX:CQR) June Stock Price Reflect Its Future Growth?

Charter Hall Retail Real Estate Investment Trust (ASX:CQR) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of A$4.5 is based on unrealistic expectations. … However, since Charter Hall Retail Real Estate Investment Trust is a high-growth stock, we must also account for its earnings growth by using calculation called the PEG ratio. … A PE ratio of 14.97x and expected year-on-year earnings growth of 11% give Charter Hall Retail Real Estate Investment Trust a higher PEG ratio of 1.33x.

Simply Wall St -

Investing In Property Through Charter Hall Retail Real Estate Investment Trust (ASX:CQR)

Charter Hall Retail Real Estate Investment Trust is a AU$2.0b small-cap, real estate investment trust (REIT) based in Sydney, Australia. … See our latest analysis for Charter Hall Retail Real Estate Investment Trust REIT investors should be familiar with the term Fund from Operations (FFO) – a REIT’s main source of cash flow from its day-to-day business activities. … Next Steps: As a REIT, Charter Hall Retail Real Estate Investment Trust offers some unique characteristics which could help diversify your portfolio.

Simply Wall St -

Update: Charter Hall Retail Real Estate Investment Trust (ASX:CQR) Stock Gained 18% In The Last Five Years

For example, long term Charter Hall Retail Real Estate Investment Trust (ASX:CQR) shareholders have enjoyed a 18% share price rise over the last half decade, well in excess of the market return of around 7.5% (not including dividends). … Check out our latest analysis for Charter Hall Retail Real Estate Investment Trust. … Charter Hall Retail Real Estate Investment Trust's earnings per share are down 1.5% per year, despite strong share price performance over five years.

Simply Wall St -

Read This Before Buying Charter Hall Retail Real Estate Investment Trust (ASX:CQR) For Its Dividend

Could Charter Hall Retail Real Estate Investment Trust (ASX:CQR) be an attractive dividend share to own for the long haul? … In this case, Charter Hall Retail Real Estate Investment Trust likely looks attractive to investors, given its 6.2% dividend yield and a payment history of over ten years. … There are a few simple ways to reduce the risks of buying Charter Hall Retail Real Estate Investment Trust for its dividend, and we'll go through these below.

Simply Wall St -

Should We Be Cautious About Charter Hall Retail Real Estate Investment Trust's (ASX:CQR) ROE Of 7.1%?

To keep the lesson grounded in practicality, we'll use ROE to better understand Charter Hall Retail Real Estate Investment Trust (ASX:CQR). … Charter Hall Retail Real Estate Investment Trust has a ROE of 7.1%, based on the last twelve months. … Check out our latest analysis for Charter Hall Retail Real Estate Investment Trust?

Simply Wall St -

Company Info

Description

Charter Hall Retail REIT is a leading listed real estate investment trust with a portfolio of high quality Australian supermarket anchored neighbourhood and sub-regional shopping centres. Charter Hall Retail REIT is managed by Charter Hall Group (ASX:CHC). With over 28 years’ experience in property investment and funds management, we’re one of Australia’s leading fully integrated property groups. We use our property expertise to access, deploy, manage and invest equity across our core sectors – office, retail, industrial and social infrastructure. Operating with prudence, we’ve carefully curated a $33 billion diverse portfolio of over 820 high quality, long leased properties. Partnership and financial discipline are at the heart of our approach. Acting in the best interest of customers and communities, we combine insight and inventiveness to unlock hidden value. Taking a long term view, our $7 billion development pipeline delivers sustainable, technologically enabled projects for our customers. The impacts of what we do are far-reaching. From helping businesses succeed by supporting their evolving workplace needs, to providing investors with superior returns for a better retirement, we’re powered by the drive to go further.

Details
Name: Charter Hall Retail Real Estate Investment Trust
CQR
Exchange: ASX
Founded: 1995
A$1,911,779,089
442,541,456
Website: http://www.charterhall.com.au/investments/funds/charter-hall-retail-reit
Address: Charter Hall Retail Real Estate Investment Trust
No.1 Martin Place,
Level 20,
Sydney,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX CQR Ordinary Units Australian Securities Exchange AU AUD 02. Dec 1996
CHIA CQR Ordinary Units Chi-X Australia AU AUD 02. Dec 1996
Number of employees
Current staff
Staff numbers
0
Charter Hall Retail Real Estate Investment Trust employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 10:31
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/10/08
Last earnings filing: 2019/08/15
Last earnings reported: 2019/06/30
Last annual earnings reported: 2019/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.