Charter Hall Group
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Charter Hall Group (ASX:CHC) is one of Australia’s leading fully integrated property groups, with $28.4 billion of high quality, long leased property across the office, retail, industrial and social infrastructure sectors. The last earnings update was 91 days ago. More info.
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CHC Share Price and Events
7 Day Returns
1 Year Returns
CHC Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Charter Hall Group (CHC) | 3% | 8% | 20.3% | 68.8% | 102.9% | 141.4% |
| AU REITs | 3.4% | 4.4% | 7.2% | 16.9% | 18.1% | 68.2% |
| AU Market | 3.5% | 3.6% | 5.5% | 5.6% | 20.1% | 9.4% |
1 Year Return vs Industry and Market
- CHC outperformed the REITs industry which returned 16.9% over the past year.
- CHC outperformed the Market in Australia which returned 5.6% over the past year.
Price Volatility
Related Companies
CHC Value
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 Group
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Charter Hall Group.
| 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.
| 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 | 0.52 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.521 (1 + (1- 30%) (5.86%)) |
0.693 |
| 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:CHC using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model
The calculations below outline how an intrinsic value for Charter Hall Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
Charter Hall Group is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.
| Adjusted Funds From Operations (AFFO) (AUD, Millions) | Source |
Present Value Discounted (@ 7.08%) |
|
|---|---|---|---|
| 2019 | 205.05 | Analyst x2 | 191.49 |
| 2020 | 293.15 | Analyst x2 | 255.67 |
| 2021 | 249.90 | Analyst x2 | 203.54 |
| 2022 | 267.37 | Est @ 6.99% | 203.37 |
| 2023 | 282.32 | Est @ 5.59% | 200.54 |
| 2024 | 295.32 | Est @ 4.61% | 195.90 |
| 2025 | 306.89 | Est @ 3.92% | 190.12 |
| 2026 | 317.43 | Est @ 3.44% | 183.65 |
| 2027 | 327.27 | Est @ 3.1% | 176.82 |
| 2028 | 336.64 | Est @ 2.86% | 169.85 |
| Present value of next 10 years cash flows | A$1,970.94 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= A$336.64 × (1 + 2.31%) ÷ (7.08% – 2.31%) |
A$7,223.54 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= A$7,223.54 ÷ (1 + 7.08%)10 |
A$3,644.74 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= A$1,970.94 + A$3,644.74 |
A$5,615.68 |
| Equity Value per Share (AUD) |
= Total value / Shares Outstanding
= A$5,615.68 / 465.78 |
A$12.22 |
| Calculation | Result | |
|---|---|---|
| Value per share (AUD) | From above. | A$12.22 |
| Current discount | Discount to share price of
A$10.67
= -1 x (A$10.67 - A$12.22) / A$12.22 |
12.7% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Charter Hall Group's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- Charter Hall Group'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 Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Charter Hall Group's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in AUD | A$0.57 |
| ASX:CHC Share Price ** | ASX (2019-05-23) in AUD | A$10.67 |
| Australia REITs Industry PE Ratio | Median Figure of 38 Publicly-Listed REITs Companies | 11.28x |
| Australia Market PE Ratio | Median Figure of 542 Publicly-Listed Companies | 16.13x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Charter Hall Group.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = ASX:CHC Share Price ÷ EPS (both in AUD) = 10.67 ÷ 0.57 |
18.83x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Charter Hall Group is overvalued based on earnings compared to the AU REITs industry average.
- Charter Hall Group is overvalued based on earnings compared to the Australia market.
Price based on expected Growth
Does
Charter Hall Group's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 18.83x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts |
6.3%per year |
| Australia REITs Industry PEG Ratio | Median Figure of 33 Publicly-Listed REITs Companies | 1.05x |
| Australia Market PEG Ratio | Median Figure of 359 Publicly-Listed Companies | 1.45x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 18.83x ÷ 6.3% |
3.01x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Charter Hall Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Charter Hall Group's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in AUD | A$4.04 |
| ASX:CHC Share Price * | ASX (2019-05-23) in AUD | A$10.67 |
| Australia REITs Industry PB Ratio | Median Figure of 42 Publicly-Listed REITs Companies | 1.11x |
| Australia Market PB Ratio | Median Figure of 1,680 Publicly-Listed Companies | 1.65x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = ASX:CHC Share Price ÷ Book Value per Share (both in AUD) = 10.67 ÷ 4.04 |
2.64x |
* Primary Listing of Charter Hall Group.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Charter Hall Group is overvalued based on assets compared to the AU REITs industry average.
Value checks
We assess Charter Hall Group's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) Charter Hall Group has a total score of 0/6, 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.
CHC Future Performance
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!
Earnings growth vs Low Risk Savings
- Charter Hall Group's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
- Charter Hall Group's earnings growth is positive but not above the Australia market average.
- Charter Hall Group's revenue growth is expected to exceed the Australia market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| ASX:CHC Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts | 6.3% |
| ASX:CHC Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts | 4.8% |
| Australia REITs Industry Earnings Growth Rate | Market Cap Weighted Average | -3.3% |
| Australia REITs Industry Revenue Growth Rate | Market Cap Weighted Average | 0.3% |
| Australia Market Earnings Growth Rate | Market Cap Weighted Average | 7% |
| Australia Market Revenue Growth Rate | Market Cap Weighted Average | 3.2% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (4 months ago) | See Below |
| Future Estimates | Average of up to 7 Analyst Estimates (S&P Global) | See Below |
| Date (Data in AUD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-06-30 | ||||
| 2022-06-30 | ||||
| 2021-06-30 | 433 | 155 | 262 | 2 |
| 2020-06-30 | 480 | 220 | 278 | 3 |
| 2019-06-30 | 378 | 155 | 219 | 3 |
| Date (Data in AUD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 450 | 187 | 264 |
| 2018-09-30 | 433 | 178 | 258 |
| 2018-06-30 | 417 | 169 | 251 |
| 2018-03-31 | 399 | 157 | 228 |
| 2017-12-31 | 381 | 146 | 205 |
| 2017-09-30 | 402 | 151 | 231 |
| 2017-06-30 | 424 | 156 | 258 |
| 2017-03-31 | 405 | 152 | 251 |
| 2016-12-31 | 387 | 148 | 245 |
| 2016-09-30 | 365 | 139 | 230 |
| 2016-06-30 | 344 | 130 | 215 |
| 2016-03-31 | 342 | 117 | 218 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (4 months ago) | See Below |
| Future Estimates | Average of up to 7 Analyst Estimates (S&P Global) | See Below |
All data from Charter Hall Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in AUD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-06-30 | ||||
| 2022-06-30 | ||||
| 2021-06-30 | 0.59 | 0.59 | 0.59 | 1.00 |
| 2020-06-30 | 0.58 | 0.73 | 0.47 | 3.00 |
| 2019-06-30 | 0.45 | 0.46 | 0.44 | 3.00 |
| Date (Data in AUD Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.57 |
| 2018-09-30 | 0.55 |
| 2018-06-30 | 0.54 |
| 2018-03-31 | 0.50 |
| 2017-12-31 | 0.46 |
| 2017-09-30 | 0.53 |
| 2017-06-30 | 0.61 |
| 2017-03-31 | 0.60 |
| 2016-12-31 | 0.59 |
| 2016-09-30 | 0.56 |
| 2016-06-30 | 0.53 |
| 2016-03-31 | 0.55 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Charter Hall Group's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Charter Hall Group 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.
CHC Past Performance
How has Charter Hall Group 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
Past Earnings growth analysis
- Charter Hall Group has delivered over 20% year on year earnings growth in the past 5 years.
- Charter Hall Group's 1-year earnings growth exceeds its 5-year average (28.7% vs 23.5%)
- Charter Hall Group's earnings growth has exceeded the AU REITs industry average in the past year (28.7% vs -11.2%).
Earnings and Revenue History
All data from Charter Hall Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in AUD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 449.80 | 264.00 | 25.30 | |
| 2018-09-30 | 433.25 | 257.60 | 24.70 | |
| 2018-06-30 | 416.70 | 251.20 | 24.10 | |
| 2018-03-31 | 398.82 | 228.18 | 24.02 | |
| 2017-12-31 | 380.93 | 205.11 | 24.07 | |
| 2017-09-30 | 402.36 | 231.35 | 22.63 | |
| 2017-06-30 | 423.80 | 257.60 | 21.20 | |
| 2017-03-31 | 405.43 | 251.31 | 19.89 | |
| 2016-12-31 | 387.06 | 245.03 | 18.58 | |
| 2016-09-30 | 365.31 | 230.13 | 18.43 | |
| 2016-06-30 | 343.56 | 215.24 | 18.27 | |
| 2016-03-31 | 341.97 | 218.36 | 17.20 | |
| 2015-12-31 | 340.38 | 221.47 | 16.14 | |
| 2015-09-30 | 283.45 | 169.68 | 15.36 | |
| 2015-06-30 | 226.51 | 117.89 | 14.59 | |
| 2015-03-31 | 211.38 | 105.66 | 14.46 | |
| 2014-12-31 | 196.25 | 93.44 | 14.33 | |
| 2014-09-30 | 189.87 | 87.78 | 13.95 | |
| 2014-06-30 | 183.50 | 82.12 | 13.56 | |
| 2014-03-31 | 170.52 | 68.00 | 13.42 | |
| 2013-12-31 | 157.55 | 53.88 | 13.28 | |
| 2013-09-30 | 157.53 | 54.14 | 12.92 | |
| 2013-06-30 | 157.50 | 54.39 | 12.56 | |
| 2013-03-31 | 150.24 | 38.71 | 26.30 | |
| 2012-12-31 | 142.98 | 23.02 | 40.04 | |
| 2012-09-30 | 137.10 | 18.71 | 56.61 | |
| 2012-06-30 | 131.22 | 14.40 | 73.17 |
*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 Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Charter Hall Group used its assets more efficiently than the AU REITs industry average last year based on Return on Assets.
- Charter Hall Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Charter Hall Group's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Charter Hall Group has a total score of 4/6, 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.
CHC Health
How is Charter Hall Group'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 Group's finances.
The net worth of a company is the difference between its assets and liabilities.
- Charter Hall Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Charter Hall Group's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is not covered by short term assets, assets are 0.7x 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.
All data from Charter Hall Group Company Filings, last reported 4 months ago.
| Date (Data in AUD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 1,923.50 | 287.20 | 115.00 |
| 2018-09-30 | 1,923.50 | 287.20 | 115.00 |
| 2018-06-30 | 1,858.20 | 5.00 | 94.90 |
| 2018-03-31 | 1,858.20 | 5.00 | 94.90 |
| 2017-12-31 | 1,782.26 | 4.67 | 87.34 |
| 2017-09-30 | 1,782.26 | 4.67 | 87.34 |
| 2017-06-30 | 1,722.30 | 0.00 | 174.40 |
| 2017-03-31 | 1,722.30 | 0.00 | 174.40 |
| 2016-12-31 | 1,437.70 | 0.00 | 43.06 |
| 2016-09-30 | 1,437.70 | 0.00 | 43.06 |
| 2016-06-30 | 1,311.08 | 0.00 | 145.36 |
| 2016-03-31 | 1,311.08 | 0.00 | 145.36 |
| 2015-12-31 | 1,295.02 | 0.00 | 61.15 |
| 2015-09-30 | 1,295.02 | 0.00 | 61.15 |
| 2015-06-30 | 1,200.46 | 0.00 | 151.59 |
| 2015-03-31 | 1,200.46 | 0.00 | 151.59 |
| 2014-12-31 | 928.20 | 0.39 | 12.39 |
| 2014-09-30 | 928.20 | 0.39 | 12.39 |
| 2014-06-30 | 917.09 | 0.00 | 50.18 |
| 2014-03-31 | 917.09 | 0.00 | 50.18 |
| 2013-12-31 | 757.50 | 39.66 | 14.33 |
| 2013-09-30 | 757.50 | 39.66 | 14.33 |
| 2013-06-30 | 740.29 | 27.46 | 12.24 |
| 2013-03-31 | 740.29 | 27.46 | 12.24 |
| 2012-12-31 | 750.72 | 37.36 | 25.47 |
| 2012-09-30 | 750.72 | 37.36 | 25.47 |
| 2012-06-30 | 756.36 | 52.13 | 39.32 |
- Charter Hall Group's level of debt (14.9%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has increased over the past 5 years (5.2% vs 14.9% today).
- Debt is well covered by operating cash flow (65.1%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 41.8x coverage).
Financial health checks
We assess Charter Hall Group's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Charter Hall Group has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
CHC Dividends
What is Charter Hall Group'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
If you bought
A$2,000 of
Charter Hall Group
shares you are expected to receive
A$62
in your first year as a dividend.
Dividend Amount
- Charter Hall Group's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.56%).
- Charter Hall Group's dividend is below the markets top 25% of dividend payers in Australia (5.69%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 7 Analyst Estimates (S&P Global) | See Below |
| Australia REITs Industry Average Dividend Yield | Market Cap Weighted Average of 40 Stocks | 4.5% |
| Australia Market Average Dividend Yield | Market Cap Weighted Average of 414 Stocks | 4.1% |
| Australia Minimum Threshold Dividend Yield | 10th Percentile | 1.6% |
| Australia Bottom 25% Dividend Yield | 25th Percentile | 2.6% |
| Australia Top 25% Dividend Yield | 75th Percentile | 5.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in A$) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-06-30 | 0.46 | 1.00 |
| 2022-06-30 | 0.45 | 1.00 |
| 2021-06-30 | 0.43 | 6.00 |
| 2020-06-30 | 0.40 | 8.00 |
| 2019-06-30 | 0.34 | 8.00 |
| Date (Data in A$) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-12-11 | 0.330 | 3.742 |
| 2018-06-18 | 0.324 | 4.696 |
| 2017-12-08 | 0.312 | 5.220 |
| 2017-06-19 | 0.312 | 5.546 |
| 2017-02-23 | 0.288 | 5.119 |
| 2016-06-17 | 0.272 | 5.474 |
| 2015-12-15 | 0.266 | 5.678 |
| 2015-06-11 | 0.242 | 5.397 |
| 2014-12-15 | 0.242 | 4.942 |
| 2014-06-20 | 0.226 | 5.198 |
| 2013-12-16 | 0.220 | 5.513 |
| 2013-06-19 | 0.208 | 5.576 |
| 2012-12-17 | 0.196 | 5.200 |
| 2012-06-18 | 0.182 | 6.724 |
| 2012-02-22 | 0.182 | 8.131 |
| 2011-06-20 | 0.170 | 8.686 |
| 2011-02-23 | 0.160 | 6.675 |
| 2010-09-30 | 0.128 | 5.457 |
| 2010-08-23 | 0.128 | 5.366 |
| 2009-08-25 | 0.198 | 7.731 |
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 increased over the past 10 years.
Current Payout to shareholders
What portion of
Charter Hall Group's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are covered by earnings (1.3x coverage).
- Dividends after 3 years are expected to be thoroughly covered by earnings (552.5x coverage).
Income/ dividend checks
We assess Charter Hall Group's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Charter Hall Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Charter Hall Group 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.
CHC Management
CEO
| COMPENSATION | A$3,671,271 |
| AGE | 52 |
| TENURE AS CEO | 14.6 years |
CEO Bio
Mr. David William Harrison has been a Director of Charter Hall Education Trust since December 17, 2018. Mr. 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 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. 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
- David's compensation has been consistent with company performance over the past year, both up more than 20%.
- David's remuneration is about average for companies of similar size in Australia.
Management Team Tenure
Average tenure and age of the Charter Hall Group management team in years:
- The tenure for the Charter Hall Group management team is about average.
Management Team
David Harrison
MD, Group CEO & Director
A$4M
52
14.6 yrs
Russell Proutt
Chief Financial Officer
A$2M
1.8 yrs
Sean McMahon
Chief Investment Officer
A$2M
2.9 yrs
Adrian Tasman Taylor
Office Chief Executive Officer
A$1M
46
2.3 yrs
Greg Chubb
Retail Chief Executive Officer
A$1M
2.3 yrs
David Southon
A$197K
52
Philip Cheetham
Head of Listed Investor Relations
3.3 yrs
Mark Bryant
Group General Counsel & Company Secretary
Richard Stacker
Industrial CEO
A$989K
0.8 yrs
Steve Bennett
Head of Direct Property & Fund Manager
Board of Directors Tenure
Average tenure and age of the Charter Hall Group board of directors in years:
- The tenure for the Charter Hall Group board of directors is about average.
Board of Directors
David Clarke
Chairman of the Board
A$375K
62
4.5 yrs
David Harrison
MD, Group CEO & Director
A$4M
52
12.8 yrs
Anne Brennan
Non-Executive Independent Director
A$200K
58
8.6 yrs
Phil Garling
Non-Executive Independent Director
A$178K
64
6.3 yrs
Karen Moses
Non-Executive Independent Director
A$190K
60
2.7 yrs
David Ross
Non-Executive Independent Director
A$178K
57
2.4 yrs
Gregory Paramor
Director
0.5 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (A$) | Value (A$) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 06. May 19 | Buy | Realindex Investments Pty Limited | Company | 27. Feb 19 | 03. May 19 | 117,176 | A$9.37 | A$1,097,575 | ||
| 06. May 19 | Buy | Colonial First State Asset Management (Australia) Limited | Company | 06. Mar 19 | 03. May 19 | 3,315,489 | A$10.21 | A$32,632,705 | ||
| 02. May 19 | Sell | Vinva Investment Management | Company | 06. Apr 19 | 30. Apr 19 | -312,512 | A$9.83 | A$-3,071,336 | ||
| 02. May 19 | Buy | Vinva Investment Management | Company | 06. Apr 19 | 30. Apr 19 | 43,192 | A$10.06 | A$434,299 | ||
| 22. Apr 19 | Sell | The Vanguard Group, Inc. | Company | 27. Feb 18 | 15. Apr 19 | -2,385,079 | A$10.15 | A$-24,189,426 | ||
| 22. Apr 19 | Buy | The Vanguard Group, Inc. | Company | 27. Feb 18 | 16. Apr 19 | 7,072,937 | A$10.27 | A$72,339,882 | ||
| 15. Apr 19 | Sell | David Harrison | Individual | 10. Apr 19 | 10. Apr 19 | -600,000 | A$9.99 | A$-5,995,199 | ||
| 11. Apr 19 | Sell | Cohen & Steers Capital Management, Inc. | Company | 12. Dec 18 | 09. Apr 19 | -5,664,075 | A$9.03 | A$-48,366,530 | ||
| 11. Apr 19 | Buy | Cohen & Steers Capital Management, Inc. | Company | 13. Dec 18 | 03. Apr 19 | 1,001,967 | A$8.39 | A$8,401,985 | ||
| 09. Apr 19 | Sell | FIL Limited | Company | 24. Jun 16 | 05. Apr 19 | -17,734,075 | A$9.87 | A$0 | ||
| 09. Apr 19 | Buy | FIL Limited | Company | 28. Jun 16 | 05. Apr 19 | 18,892,489 | A$10.36 | A$0 | ||
| 09. Apr 19 | Sell | Vinva Investment Management | Company | 05. Dec 18 | 05. Apr 19 | -138,353 | A$9.55 | A$-1,321,392 | ||
| 09. Apr 19 | Buy | Vinva Investment Management | Company | 05. Dec 18 | 05. Apr 19 | 17,328,212 | A$8.83 | A$152,998,994 | ||
| 28. Feb 19 | Sell | ASB Group Investments Ltd. | Company | 31. Jan 19 | 31. Jan 19 | -17,759 | A$8.12 | A$-144,203 | ||
| 28. Feb 19 | Buy | ASB Group Investments Ltd. | Company | 12. Dec 18 | 04. Feb 19 | 130,744 | A$7.74 | A$1,012,139 | ||
| 28. Feb 19 | Sell | Colonial First State Asset Management (Australia) Limited | Company | 11. Dec 18 | 26. Feb 19 | -2,336,683 | A$8.61 | A$-19,033,366 | ||
| 28. Feb 19 | Buy | Colonial First State Asset Management (Australia) Limited | Company | 13. Dec 18 | 25. Jan 19 | 1,017,691 | A$7.62 | A$7,750,068 | ||
| 12. Dec 18 | Buy | Realindex Investments Pty Limited | Company | 06. Dec 18 | 07. Dec 18 | 44,986 | A$7.35 | A$329,116 | ||
| 12. Dec 18 | Buy | Colonial First State Asset Management (Australia) Limited | Company | 06. Dec 18 | 07. Dec 18 | 258,042 | A$7.29 | A$1,875,820 | ||
| 06. Dec 18 | Sell | Realindex Investments Pty Limited | Company | 30. Nov 18 | 04. Dec 18 | -10,334 | A$6.95 | A$-71,790 | ||
| 06. Dec 18 | Buy | Realindex Investments Pty Limited | Company | 26. Nov 18 | 05. Dec 18 | 23,856 | A$7.02 | A$167,551 | ||
| 06. Dec 18 | Sell | Colonial First State Asset Management (Australia) Limited | Company | 23. Nov 18 | 05. Dec 18 | -588,257 | A$7.01 | A$-4,122,635 | ||
| 26. Nov 18 | Buy | Colonial First State Asset Management (Australia) Limited | Company | 22. Nov 18 | 22. Nov 18 | 18,258 | A$7.00 | A$127,806 | ||
| 30. Oct 18 | Buy | Pinnacle Investment Management Group Limited | Company | 26. Sep 18 | 26. Oct 18 | 559,766 | A$7.05 | A$3,946,825 | ||
| 23. Nov 18 | Sell | Realindex Investments Pty Limited | Company | 22. Sep 17 | 20. Nov 18 | -3,280,205 | A$6.50 | A$-21,335,452 | ||
| 23. Nov 18 | Buy | Realindex Investments Pty Limited | Company | 26. Sep 17 | 19. Nov 18 | 1,960,689 | A$6.34 | A$12,434,758 | ||
| 23. Nov 18 | Sell | ASB Group Investments Ltd. | Company | 16. Apr 18 | 08. Jun 18 | -635,339 | A$5.84 | A$-3,713,348 | ||
| 23. Nov 18 | Buy | ASB Group Investments Ltd. | Company | 03. Oct 17 | 24. Jul 18 | 859,300 | A$6.11 | A$5,247,718 | ||
| 23. Nov 18 | Sell | Colonial First State Asset Management (Australia) Limited | Company | 22. Sep 17 | 19. Nov 18 | -11,358,438 | A$6.31 | A$-69,105,165 | ||
| 23. Nov 18 | Buy | Colonial First State Asset Management (Australia) Limited | Company | 22. Sep 17 | 14. Nov 18 | 9,509,357 | A$6.88 | A$58,687,156 | ||
| 19. Nov 18 | Sell | Pinnacle Investment Management Group Limited | Company | 14. Nov 18 | 14. Nov 18 | -100,000 | A$7.00 | A$-699,710 | ||
| 14. Nov 18 | Buy | Pinnacle Investment Management Group Limited | Company | 08. Nov 18 | 12. Nov 18 | 153,068 | A$7.13 | A$1,091,045 | ||
| 08. Nov 18 | Sell | Pinnacle Investment Management Group Limited | Company | 05. Nov 18 | 05. Nov 18 | -94,193 | A$6.66 | A$-627,325 | ||
| 07. Nov 18 | Sell | Pinnacle Investment Management Group Limited | Company | 31. Oct 18 | 31. Oct 18 | -19,784 | A$6.90 | A$-136,510 | ||
| 07. Nov 18 | Buy | Pinnacle Investment Management Group Limited | Company | 31. Oct 18 | 02. Nov 18 | 123,668 | A$6.80 | A$839,673 | ||
| 09. Aug 18 | Sell | National Mutual Funds Management Limited | Company | 07. May 18 | 07. Aug 18 | -316,943 | A$6.41 | A$-2,031,189 | ||
| 09. Aug 18 | Buy | National Mutual Funds Management Limited | Company | 05. Jun 18 | 05. Jun 18 | 30,486 | A$6.35 | A$193,540 | ||
| 09. Aug 18 | Sell | AMP Capital Investors Limited | Company | 10. Apr 18 | 08. Aug 18 | -1,192,721 | A$6.43 | A$-7,646,636 | ||
| 09. Aug 18 | Buy | AMP Capital Investors Limited | Company | 09. Apr 18 | 08. Aug 18 | 6,303,572 | A$6.65 | A$41,562,338 | ||
| 15. Jun 18 | Sell | Pinnacle Investment Management Group Limited | Company | 28. Mar 18 | 12. Jun 18 | -5,979,202 | A$6.39 | A$-38,177,240 | ||
| 15. Jun 18 | Buy | Pinnacle Investment Management Group Limited | Company | 06. Apr 18 | 08. Jun 18 | 91,066 | A$6.01 | A$547,146 | ||
Management checks
We assess Charter Hall Group's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Charter Hall Group 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.
CHC News
Simply Wall St News
Could The Charter Hall Group (ASX:CHC) Ownership Structure Tell Us Something Useful?
See our latest analysis for Charter Hall Group ASX:CHC Ownership Summary, May 21st 2019 What Does The Institutional Ownership Tell Us About Charter Hall Group? … We can see that Charter Hall Group does have institutional investors; and they hold 66% of the stock. … Insider Ownership Of Charter Hall Group The definition of an insider can differ slightly between different countries, but members of the board of directors always count.
Simply Wall St - – Full articleDoes Charter Hall Group (ASX:CHC) Have A Place In Your Dividend Portfolio?
Dividend paying stocks like Charter Hall Group (ASX:CHC) tend to be popular with investors, and for good reason - some research suggests a significant amount of all stock market returns come from reinvested dividends. … Charter Hall Group has been paying dividends for a long time, but for the purpose of this analysis, we only examine the past 10 years of payments. … Charter Hall Group's is paying out more than half its income as dividends, but at least the dividend is covered both by reported earnings and cashflow.
Simply Wall St - – Full articleA Holistic Look At Charter Hall Group (ASX:CHC)
Charter Hall Group (ASX:CHC) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … Below, I've touched on some key aspects you should know on a high level
Simply Wall St - – Full articleBoasting A 14% Return On Equity, Is Charter Hall Group (ASX:CHC) A Top Quality Stock?
Charter Hall Group has a ROE of 14%, based on the last twelve months. … Check out our latest analysis for Charter Hall Group? … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleDoes Charter Hall Group's (ASX:CHC) CEO Salary Reflect Performance?
How Does David Harrison's Compensation Compare With Similar Sized Companies. … According to our data, Charter Hall Group has a market capitalization of AU$4.6b, and pays its CEO total annual compensation worth AU$3.7m. … While this analysis focuses on total compensation, it's worth noting the salary is lower, valued at AU$1.4m
Simply Wall St - – Full articleDid You Miss Charter Hall Group's (ASX:CHC) Impressive 128% Share Price Gain?
But on a lighter note, a good company can see its share price rise well over 100%. … Long term Charter Hall Group (ASX:CHC) shareholders would be well aware of this, since the stock is up 128% in five years. … During five years of share price growth, Charter Hall Group achieved compound earnings per share (EPS) growth of 26% per year.
Simply Wall St - – Full articleWhat You Need To Know Before Investing In Charter Hall Group (ASX:CHC)
Charter Hall Group is a AU$4.1b. … View our latest analysis for Charter Hall Group … These items can distort the bottom line and not necessarily reflective of CHC’s daily operations.
Simply Wall St - – Full articleWhat Should Investors Know About Charter Hall Group's (ASX:CHC) Long Term Outlook?
Help shape the future of investing tools and you could win a $250 gift card! … The most recent earnings announcement Charter Hall Group's (ASX:CHC) released in June 2018a
Simply Wall St - – Full articleShould You Ramp Up Holdings In Charter Hall Group (ASX:CHC)?
High quality stocks such as Charter Hall Group has fared well over time in a fickle stock market, which is why I want to bring it into light amongst all the chaos. … Check out our latest analysis for Charter Hall Group? … Charter Hall Group (ASX:CHC) is one of Australia’s leading fully integrated property groups, with over 25 years’ experience managing and investing in high quality property on behalf of institutional, wholesale and retail clients
Simply Wall St - – Full articleA Note On Charter Hall Group's (ASX:CHC) ROE and Debt To Equity
Over the last twelve months Charter Hall Group has recorded a ROE of 14%. … That means that for every A$1 worth of shareholders' equity, it generated A$0.14 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleCHC Company Info
Description
Charter Hall Group (ASX:CHC) is one of Australia’s leading fully integrated property groups, with $28.4 billion of high quality, long leased property across the office, retail, industrial and social infrastructure sectors. The Group has offices in Sydney, Melbourne, Brisbane, Adelaide and Perth and oversees a portfolio of 820 properties that is more than 6.3 million square metres in size. The ASX100 Group has over 27 years’ experience managing and investing in high quality property on behalf of institutional, wholesale and retail clients. Charter Hall’s success is driven by our focus on our tenant and investor customers. We look to partner with our tenants, growing with them and helping meet their property needs. We invest alongside our capital partners, creating value and generating superior investment returns together. Our $5.3 billion development pipeline creates new assets for our investors, improving future returns, while creating opportunities for our tenant partners to expand and adapt their businesses. Sustainability and innovation are key elements of our approach. By ensuring our actions are innovative, commercially sound and make a difference to our people, customers and the environment, Charter Hall makes a positive impact for its investors, the community and the Group.
Details
| Name: | Charter Hall Group |
| CHC | |
| Exchange: | ASX |
| Founded: | 1991 |
| A$4,904,633,189 | |
| 465,777,131 | |
| Website: | http://www.charterhall.com.au |
| Address: |
Charter Hall Group Level 20, No. 1 Martin Place, Sydney, New South Wales, 2000, Australia |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| ASX | CHC | Stapled Securities | Australian Securities Exchange | AU | AUD | 16. Jun 2006 | |
| CHIA | CHC | Stapled Securities | Chi-X Australia | AU | AUD | 16. Jun 2006 |
Number of employees
Current staff
Industry
| Diversified REITs | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/23 10:32 |
| End of day share price update: | 2019/05/23 00:00 |
| Last estimates confirmation: | 2019/05/22 |
| Last earnings filing: | 2019/02/21 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/06/30 |
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.
