Charter Hall Group CHC

Morningstar Rating
A$18.30 +0.05 (0.27%)
View Full Chart

Company Report

Strong Capital Inflows Driving Solid Growth Outlook for Charter Hall Group

Charter Hall manages retail and institutionally listed and unlisted property investments. Management base fees and property services fees are relatively stable. The group also co-invests in many of its vehicles to align interest with funds management clients. But we expect less co-investments in the future as parking money in its own funds ties up capital.

Price vs Fair Value

CHC is trading at a LOCK|b!CWq& premium.
Price
A$18.30
Fair Value
LOCK|.XW
Uncertainty
LOCK|R<wJ
1-Star Price
LOCK|.P^b
5-Star Price
LOCK|.$$
Economic Moat
LOCK|@$^$!
Capital Allocation
LOCK|#ywY%^$

Bulls Say, Bears Say

Bulls

Charter Hall’s investment vehicles are gaining investor inflows due to their scale, strong track records, management expertise, and significant development pipeline.

Bears

Low interest rates had encouraged the strong demand for Charter Hall’s property funds in the past. However, record low interest rates during covid are unlikely to return.

Trading Information

Previous Close Price
A$18.25
Day Range
A$17.99–18.67
52-Week Range
A$17.49–25.95
Bid/Ask
A$18.05 / A$18.99
Shares Outstanding
473.00M
Market Cap
A$8.66B
Volume/Avg
2M / 2M

Key Statistics

Price/Earnings (Normalized)
20.20
Price/Sales
19.59
Dividend Yield (Trailing)
2.77%
Dividend Yield (Forward)
2.82%
Dividend Payment Schedule
Feb, Aug
Total Yield
3.27%

Company Profile

Charter Hall Group is the umbrella group of over 40 retail and institutional unlisted funds, as well as three listed REITs: Charter Hall Long WALE REIT, Charter Hall Retail REIT, and Charter Hall Social Infrastructure REIT. Investment management fees and property services fees from these investment vehicles are the main sources of revenue for Charter Hall. The aggregate portfolio across the platform has one third exposure to office, one third to logistics, and the remainder in retail, social infrastructure and listed equities. Charter Hall co-invests in many of the vehicles, so a portion of its earnings come from rent and fund distributions. The group also earns development revenue on projects that it manages, but this income stream is relatively small.
Sector
Real Estate
Industry
REIT - Diversified
Stock Style Box
Mid Core
Total Number of Employees
—

Competitors

Valuation

Metric
CHC
GMG
MGR
Price/Earnings (Normalized)
20.20179.5411.45
Price/Book Value
2.982.180.75
Price/Sales
19.5921.762.72
Price/Cash Flow
—28.958.07
Price/Earnings
CHC
GMG
MGR

Financial Strength

Metric
CHC
GMG
MGR
Quick Ratio
1.263.050.27
Current Ratio
1.973.550.84
Interest Coverage
15.29358.943.64
Quick Ratio
CHC
GMG
MGR

Profitability

Metric
CHC
GMG
MGR
Return on Assets (Normalized)
13.31%8.42%4.02%
Return on Equity (Normalized)
17.30%11.14%6.48%
Return on Invested Capital (Normalized)
15.12%8.81%4.07%
Return on Assets
CHC
GMG
MGR

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