ASX:CQR

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Charter Hall Retail Real Estate Investment Trust

Executive Summary

Charter Hall Retail REIT is a leading owner and manager of a portfolio of high quality convenience based retail.


Snowflake Analysis

Average dividend payer and fair value.


Similar Companies

Share Price & News

How has Charter Hall Retail Real Estate Investment Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CQR's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

1.9%

CQR

3.2%

AU REITs

3.8%

AU Market


1 Year Return

-27.7%

CQR

-18.9%

AU REITs

-8.5%

AU Market

Return vs Industry: CQR underperformed the Australian REITs industry which returned -18.1% over the past year.

Return vs Market: CQR underperformed the Australian Market which returned -10.5% over the past year.


Shareholder returns

CQRIndustryMarket
7 Day1.9%3.2%3.8%
30 Day6.6%13.2%12.0%
90 Day-32.7%-20.5%-8.6%
1 Year-22.9%-27.7%-15.0%-18.9%-4.7%-8.5%
3 Year-10.5%-26.4%7.0%-8.3%13.4%-1.6%
5 Year3.6%-25.1%43.7%11.5%30.8%2.5%

Price Volatility Vs. Market

How volatile is Charter Hall Retail Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Charter Hall Retail Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?

36.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CQR (A$3.23) is trading below our estimate of fair value (A$5.11)

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


Price To Earnings Ratio

PE vs Industry: CQR is poor value based on its PE Ratio (21.6x) compared to the REITs industry average (10.5x).

PE vs Market: CQR is poor value based on its PE Ratio (21.6x) compared to the Australian market (15.5x).


Price to Earnings Growth Ratio

PEG Ratio: CQR is poor value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: CQR is good value based on its PB Ratio (0.8x) compared to the AU REITs industry average (0.9x).


Next Steps

Future Growth

How is Charter Hall Retail Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

21.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CQR's forecast earnings growth (21.1% per year) is above the savings rate (2.3%).

Earnings vs Market: CQR's earnings (21.1% per year) are forecast to grow faster than the Australian market (14.4% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: CQR's revenue (1.7% per year) is forecast to grow slower than the Australian market (4.2% per year).

High Growth Revenue: CQR's revenue (1.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CQR's Return on Equity is forecast to be low in 3 years time (6.2%).


Next Steps

Past Performance

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

-17.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CQR has a large one-off loss of A$25.8M impacting its December 31 2019 financial results.

Growing Profit Margin: CQR's current net profit margins (28.1%) are lower than last year (53.6%).


Past Earnings Growth Analysis

Earnings Trend: CQR's earnings have declined by -17.5% per year over the past 5 years.

Accelerating Growth: CQR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CQR had negative earnings growth (-46.9%) over the past year, making it difficult to compare to the REITs industry average (3.3%).


Return on Equity

High ROE: CQR's Return on Equity (3.6%) is considered low.


Next Steps

Financial Health

How is Charter Hall Retail Real Estate Investment Trust's financial position?


Financial Position Analysis

Short Term Liabilities: CQR's short term assets (A$105.2M) do not cover its short term liabilities (A$112.2M).

Long Term Liabilities: CQR's short term assets (A$105.2M) do not cover its long term liabilities (A$1.1B).


Debt to Equity History and Analysis

Debt Level: CQR's debt to equity ratio (59.6%) is considered high.

Reducing Debt: CQR's debt to equity ratio has increased from 53.8% to 59.6% over the past 5 years.

Debt Coverage: CQR's debt is not well covered by operating cash flow (12.1%).

Interest Coverage: CQR's interest payments on its debt are well covered by EBIT (5x coverage).


Balance Sheet


Next Steps

Dividend

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

8.99%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CQR's dividend (8.99%) is higher than the bottom 25% of dividend payers in the Australian market (2.6%).

High Dividend: CQR's dividend (8.99%) is in the top 25% of dividend payers in the Australian market (6.75%)


Stability and Growth of Payments

Stable Dividend: CQR's dividend payments have been volatile in the past 10 years.

Growing Dividend: CQR's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (80.6%), CQR's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CQR's dividends in 3 years are forecast to be thoroughly covered by earnings (0.2% payout ratio).


Next Steps

Management

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

2.6yrs

Average management tenure


CEO

David Harrison (53yo)

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

NamePositionTenureCompensationOwnership
David Harrison
MD, Group CEO & Executive Director of Charter Hall Retail Management Limitedno datano data0.022% A$406.6k
Philip Cheetham
Head of Listed Investor Relations-Charter Hall Retail Management Limitedno datano datano data
Mark Bryant
General Counsel & Company Secretary of Charter Hall Retail Management Limitedno datano datano data
Christine Kelly
Head of Retail Finance & Deputy Fund Managerno datano datano data
Steven Bennett
Head of Direct Property & Fund Manager1.42yrsno datano data
Gregory Chubb
CEO of Retail4.33yrsAU$784.81kno data
Charisse Nortjé
Company Secretary of Charter Hall Retail Management Limitedno datano datano data
Francis Dundas
Executive Officer8.42yrsAU$454.85kno data
Richard Stacker
Group Executive – Investor Relations Charter Hallno datano datano data

2.6yrs

Average Tenure

Experienced Management: CQR's management team is considered experienced (2.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
David Harrison
MD, Group CEO & Executive Director of Charter Hall Retail Management Limitedno datano data0.022% A$406.6k
Gregory Chubb
CEO of Retail4.33yrsAU$784.81kno data
Roger Davis
Independent Chairman of Charter Hall Retail Management Limited1.58yrsAU$126.73k0.0050% A$92.6k
Michael Gorman
Independent Director of Charter Hall Retail Management Limited3.58yrsAU$97.38k0.0026% A$48.2k
Susan Palmer
Independent Director of Charter Hall Retail Management Limited4.58yrsAU$102.50kno data

4.3yrs

Average Tenure

62yo

Average Age

Experienced Board: CQR's board of directors are considered experienced (4.3 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

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 29.5%.


Top Shareholders

Company Information

Charter Hall Retail Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources


Key Information


Location

  • Charter Hall Retail Real Estate Investment Trust
  • No.1 Martin Place
  • Level 20
  • Sydney
  • New South Wales
  • 2000
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CQRASX (Australian Securities Exchange)YesOrdinary UnitsAUAUDDec 1996
CQRCHIA (Chi-X Australia)YesOrdinary UnitsAUAUDDec 1996

Biography

Charter Hall Retail REIT is a leading owner and manager of a portfolio of high quality convenience based retail. Charter Hall Retail 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. 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, Charter Hall Group as manager of CQR has carefully curated a $38.9 billion diverse portfolio of over 1,100 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 $6.8 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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/01 10:32
End of Day Share Price2020/06/01 00:00
Earnings2019/12/31
Annual Earnings2019/06/30


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.