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CLW

Charter Hall Long WALE REIT ASX:CLW Stock Report

Last Price

AU$4.10

Market Cap

AU$3.0b

7D

-5.3%

1Y

-17.5%

Updated

25 Sep, 2022

Data

Company Financials +
CLW fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance2/6
Financial Health2/6
Dividends3/6

CLW Stock Overview

Charter Hall Long WALE REIT is an Australian Real Estate Investment Trust (REIT) listed on the ASX and investing in high quality Australasian real estate assets that are predominantly leased to corporate and government tenants on long term leases.

Charter Hall Long WALE REIT Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Charter Hall Long WALE REIT
Historical stock prices
Current Share PriceAU$4.10
52 Week HighAU$5.44
52 Week LowAU$4.05
Beta0.38
1 Month Change-9.29%
3 Month Change-10.68%
1 Year Change-17.51%
3 Year Change-29.55%
5 Year Change-2.84%
Change since IPO3.54%

Recent News & Updates

Shareholder Returns

CLWAU REITsAU Market
7D-5.3%-5.5%-2.7%
1Y-17.5%-23.2%-11.0%

Return vs Industry: CLW exceeded the Australian REITs industry which returned -23.2% over the past year.

Return vs Market: CLW underperformed the Australian Market which returned -11% over the past year.

Price Volatility

Is CLW's price volatile compared to industry and market?
CLW volatility
CLW Average Weekly Movement3.5%
REITs Industry Average Movement3.8%
Market Average Movement9.6%
10% most volatile stocks in AU Market16.9%
10% least volatile stocks in AU Market4.3%

Stable Share Price: CLW is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: CLW's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/an/aDavid Harrisonhttps://www.charterhall.com.au

Charter Hall Long WALE REIT is an Australian Real Estate Investment Trust (REIT) listed on the ASX and investing in high quality Australasian real estate assets that are predominantly leased to corporate and government tenants on long term leases. Charter Hall Long WALE REIT is managed by Charter Hall Group (ASX:CHC). With over 29 years' experience in property investment and funds management, we're one of Australia's leading fully integrated property groups.

Charter Hall Long WALE REIT Fundamentals Summary

How do Charter Hall Long WALE REIT's earnings and revenue compare to its market cap?
CLW fundamental statistics
Market CapAU$2.96b
Earnings (TTM)AU$911.90m
Revenue (TTM)AU$750.27m

3.3x

P/E Ratio

4.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CLW income statement (TTM)
RevenueAU$750.27m
Cost of RevenueAU$69.50m
Gross ProfitAU$680.76m
Other Expenses-AU$231.13m
EarningsAU$911.90m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.26
Gross Margin90.74%
Net Profit Margin121.54%
Debt/Equity Ratio43.5%

How did CLW perform over the long term?

See historical performance and comparison

Dividends

7.4%

Current Dividend Yield

84%

Payout Ratio

Does CLW pay a reliable dividends?

See CLW dividend history and benchmarks
When do you need to buy CLW by to receive an upcoming dividend?
Charter Hall Long WALE REIT dividend dates
Ex Dividend DateSep 29 2022
Dividend Pay DateNov 11 2022
Days until Ex dividend3 days
Days until Dividend pay date46 days

Does CLW pay a reliable dividends?

See CLW dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

Is CLW undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CLW?

Other financial metrics that can be useful for relative valuation.

CLW key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue6.5x
Enterprise Value/EBITDAn/a
PEG Ratio-0.1x

Price to Earnings Ratio vs Peers

How does CLW's PE Ratio compare to its peers?

CLW PE Ratio vs Peers
The above table shows the PE ratio for CLW vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average20x
CHC Charter Hall Group
6.1x-3.7%AU$5.6b
ABP Abacus Property Group
4.4x-33.9%AU$2.3b
CNI Centuria Capital Group
64.3x18.3%AU$1.3b
GOZ Growthpoint Properties Australia
5.2x-17.9%AU$2.4b
CLW Charter Hall Long WALE REIT
3.3x-31.6%AU$3.0b

Price-To-Earnings vs Peers: CLW is good value based on its Price-To-Earnings Ratio (3.3x) compared to the peer average (20x).


Price to Earnings Ratio vs Industry

How does CLW's PE Ratio compare vs other companies in the AU REITs Industry?

Price-To-Earnings vs Industry: CLW is good value based on its Price-To-Earnings Ratio (3.3x) compared to the Australian REITs industry average (6.3x)


Price to Earnings Ratio vs Fair Ratio

What is CLW's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CLW PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.3x
Fair PE Ratio7.3x

Price-To-Earnings vs Fair Ratio: CLW is good value based on its Price-To-Earnings Ratio (3.3x) compared to the estimated Fair Price-To-Earnings Ratio (7.3x).


Share Price vs Fair Value

What is the Fair Price of CLW when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CLW (A$4.1) is trading below our estimate of fair value (A$5.86)

Significantly Below Fair Value: CLW is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is less than 20% higher than the current share price.


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Future Growth

How is Charter Hall Long WALE REIT forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-31.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CLW's earnings are forecast to decline over the next 3 years (-31.6% per year).

Earnings vs Market: CLW's earnings are forecast to decline over the next 3 years (-31.6% per year).

High Growth Earnings: CLW's earnings are forecast to decline over the next 3 years.

Revenue vs Market: CLW's revenue is expected to decline over the next 3 years (-18.3% per year).

High Growth Revenue: CLW's revenue is forecast to decline over the next 3 years (-18.3% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CLW's Return on Equity is forecast to be low in 3 years time (4.7%).


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Past Performance

How has Charter Hall Long WALE REIT performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


62.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CLW has a large one-off gain of A$263.3M impacting its June 30 2022 financial results.

Growing Profit Margin: CLW's current net profit margins are lower than last year .


Past Earnings Growth Analysis

Earnings Trend: CLW's earnings have grown significantly by 62.1% per year over the past 5 years.

Accelerating Growth: CLW's earnings growth over the past year (47.5%) is below its 5-year average (62.1% per year).

Earnings vs Industry: CLW earnings growth over the past year (47.5%) underperformed the REITs industry 47.6%.


Return on Equity

High ROE: CLW's Return on Equity (20.5%) is considered high.


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Financial Health

How is Charter Hall Long WALE REIT's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: CLW's short term assets (A$50.5M) do not cover its short term liabilities (A$86.1M).

Long Term Liabilities: CLW's short term assets (A$50.5M) do not cover its long term liabilities (A$1.9B).


Debt to Equity History and Analysis

Debt Level: CLW's net debt to equity ratio (43%) is considered high.

Reducing Debt: CLW's debt to equity ratio has reduced from 43.7% to 43.5% over the past 5 years.

Debt Coverage: CLW's debt is not well covered by operating cash flow (9.7%).

Interest Coverage: CLW's interest payments on its debt are well covered by EBIT (20.4x coverage).


Balance Sheet


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Dividend

What is Charter Hall Long WALE REIT current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


7.44%

Current Dividend Yield

Upcoming Dividend Payment

TodaySep 26 2022Ex Dividend DateSep 29 2022Dividend Pay DateNov 11 202243 days from Ex DividendBuy in the next 3 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: CLW's dividend (7.44%) is higher than the bottom 25% of dividend payers in the Australian market (2.78%).

High Dividend: CLW's dividend (7.44%) is in the top 25% of dividend payers in the Australian market (7.03%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, CLW has been paying a dividend for less than 10 years.

Growing Dividend: CLW's dividend payments have increased, but the company has only paid a dividend for 6 years.


Earnings Payout to Shareholders

Earnings Coverage: At its current payout ratio (84.4%), CLW's payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (117.6%), CLW's dividend payments are not well covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

3.3yrs

Average management tenure


CEO

David Harrison (56 yo)

no data

Tenure

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 s...


Leadership Team

Experienced Management: CLW's management team is considered experienced (3.3 years average tenure).


Board Members

Experienced Board: CLW's board of directors are considered experienced (6.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

ASX:CLW Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
16 Sep 22BuyAU$59,786,555The Vanguard Group, Inc.Company11,050,991AU$5.42
15 Sep 22SellAU$16,959,536The Vanguard Group, Inc.Company3,170,615AU$5.38
02 Aug 22BuyAU$1,330Macquarie Investment Management LimitedCompany818,104AU$4.58
02 Aug 22BuyAU$0Macquarie Capital Investment Management LLCCompany115,760AU$4.52
02 Aug 22BuyAU$0MQ Specialist Investment Management Ltd.Company230,009AU$4.52
02 Aug 22SellAU$0Macquarie Investment Management LimitedCompany858,916AU$4.60
28 Jun 22BuyAU$0Macquarie Investment Management LimitedCompany100,154AU$4.67
28 Jun 22BuyAU$0Macquarie Capital Investment Management LLCCompany6,981AU$4.64
28 Jun 22SellAU$7,104Macquarie Investment Management LimitedCompany15,183AU$4.66
24 Jun 22SellAU$12,529Macquarie Capital Investment Management LLCCompany2,803AU$4.47
23 Jun 22BuyAU$12,073Macquarie Investment Management LimitedCompany23,287AU$4.47
23 Jun 22SellAU$30,488Macquarie Investment Management LimitedCompany6,863AU$4.46
23 Jun 22SellAU$8,884Macquarie Capital Investment Management LLCCompany2,019AU$4.40
22 Jun 22BuyAU$4,859Macquarie Investment Management LimitedCompany87,170AU$4.40
22 Jun 22SellAU$291,717Macquarie Investment Management LimitedCompany106,429AU$4.39
22 Jun 22SellAU$141,709Macquarie Capital Investment Management LLCCompany32,803AU$4.32
17 Jun 22BuyAU$20,788Macquarie Investment Management LimitedCompany4,972AU$4.23
17 Jun 22BuyAU$0State Street Global Advisors, Inc.Company4,586,339AU$5.39
17 Jun 22SellAU$5,775,191Macquarie Investment Management LimitedCompany1,358,901AU$4.25
17 Jun 22SellAU$0Macquarie Capital Investment Management LLCCompany1,354,170AU$4.25
17 Jun 22SellAU$95,565State Street Global Advisors, Inc.Company865,487AU$5.77
16 Jun 22BuyAU$0Macquarie Investment Management LimitedCompany2,501,703AU$5.42
16 Jun 22SellAU$0Macquarie Investment Management LimitedCompany1,898,543AU$5.42
16 Jun 22SellAU$0Macquarie Capital Investment Management LLCCompany233,776AU$5.39
31 May 22BuyAU$0Macquarie Capital Investment Management LLCCompany951,670AU$5.22
24 May 22BuyAU$64,766,000Pejr Investments Pty LtdCompany13,200,382AU$4.91
17 May 22SellAU$0Macquarie Group, Ltd., Banking & Securities InvestmentsCompany4,685AU$5.33
13 May 22BuyAU$2,381Macquarie Group, Ltd., Banking & Securities InvestmentsCompany452AU$5.27
02 May 22SellAU$8,075MQ Specialist Investment Management Ltd.Company1,547AU$5.22
11 Mar 22BuyAU$219,152State Street Global Advisors, Inc.Company3,125,319AU$5.21
02 Dec 21SellAU$9,330,977BlackRock, Inc.Company1,645,602AU$5.69
26 Nov 21BuyAU$50,019Carmel HouriganIndividual10,250AU$4.88
22 Nov 21BuyAU$919,600David HarrisonIndividual190,000AU$4.84

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 14.6%.


Top Shareholders

Top 25 shareholders own 49.83% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
10.68%
Charter Hall Funds Management Ltd.
77,184,757A$316.5m9.17%100%
8.71%
The Vanguard Group, Inc.
62,956,033A$258.1m14.31%no data
6.44%
State Street Global Advisors, Inc.
46,522,269A$190.7m0%0.01%
4.88%
BlackRock, Inc.
35,281,641A$144.7m0%no data
3.83%
Macquarie Investment Management Limited
27,722,561A$113.7m-3.85%3.03%
1.83%
Pejr Investments Pty Ltd
13,200,382A$54.1m0%no data
1.64%
Dimensional Fund Advisors LP
11,865,783A$48.6m0.35%0.01%
1.1%
Franklin Resources, Inc.
7,955,077A$32.6m0.18%0.01%
1.09%
Macquarie Capital Investment Management LLC
7,845,384A$32.2m-5.71%0.39%
0.98%
Netwealth Investments Ltd.
7,103,561A$29.1m40.49%0.43%
0.98%
abrdn plc
7,064,514A$29.0m0%0.02%
0.82%
Endeavour Group Limited
5,957,813A$24.4m0%no data
0.81%
Van Eck Associates Corporation
5,827,578A$23.9m-3.52%0.03%
0.8%
Colonial First State Investments Limited
5,807,015A$23.8m10.06%0.22%
0.8%
J.P. Morgan Asset Management, Inc.
5,788,738A$23.7m-5.88%no data
0.71%
Norges Bank Investment Management
5,138,843A$21.1m0%no data
0.54%
BNP Paribas Arbitrage Sa, Asset Management Arm
3,875,544A$15.9m-76.81%0.02%
0.5%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
3,608,947A$14.8m-0.74%no data
0.5%
Mirae Asset Global Investments Co., Ltd
3,590,097A$14.7m-1.54%0.01%
0.44%
Pivot Group Pty Ltd
3,172,585A$13.0m113.99%no data
0.38%
Pitcher Partners
2,712,697A$11.1m7.56%no data
0.35%
David Gonski
2,559,140A$10.5m0%no data
0.35%
Artmax Investments Limited
2,545,171A$10.4m0%no data
0.34%
Northern Trust Global Investments
2,475,218A$10.1m1.86%no data
0.34%
Sumitomo Mitsui DS Asset Management Company, Limited
2,463,505A$10.1m0%0.03%

Company Information

Charter Hall Long WALE REIT's employee growth, exchange listings and data sources


Key Information

  • Name: Charter Hall Long WALE REIT
  • Ticker: CLW
  • Exchange: ASX
  • Founded: NaN
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Implied Market Cap: AU$2.964b
  • Shares outstanding: 722.96m
  • Website: https://www.charterhall.com.au

Location

  • Charter Hall Long WALE REIT
  • No. 1 Martin Place
  • Level 20
  • Sydeny
  • New South Wales
  • 2000
  • Australia


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CLWASX (Australian Securities Exchange)YesStapled SecurityAUAUDOct 2016
CLWCHIA (Chi-X Australia)YesStapled SecurityAUAUDOct 2016

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/25 00:00
End of Day Share Price2022/09/23 00:00
Earnings2022/06/30
Annual Earnings2022/06/30


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.