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Charter Hall Education Trust

OTCPK:FKKE.F
Snowflake Description

6 star dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FKKE.F
OTCPK
A$785M
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Charter Hall Education Trust is the largest Australian ASX-listed (ASX:CQE) real estate investment trust (A-REIT) that invests in early learning properties. The last earnings update was 152 days ago. More info.


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FKKE.F Share Price and Events
7 Day Returns
0%
OTCPK:FKKE.F
-0.4%
US REITs
2%
US Market
1 Year Returns
-
OTCPK:FKKE.F
-6.8%
US REITs
-9%
US Market
FKKE.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Charter Hall Education Trust (FKKE.F) 0% 0% - - - -
US REITs -0.4% -8.8% -4.8% -6.8% 2.3% 17.8%
US Market 2% -6.3% -12.5% -9% 30.5% 30%
1 Year Return vs Industry and Market
  • No trading data on FKKE.F.
  • No trading data on FKKE.F.
Price Volatility
FKKE.F
Industry
5yr Volatility vs Market

Value

 Is Charter Hall Education 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 Education 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 Education Trust.

OTCPK:FKKE.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 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 OTCPK:FKKE.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 3%
Equity Risk Premium S&P Global 7.1%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.48
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.476 (1 + (1- 30%) (38.49%))
0.604
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)
= 2.95% + (0.8 * 7.05%)
8.59%

Discounted Cash Flow Calculation for OTCPK:FKKE.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Charter Hall Education Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:FKKE.F DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (AUD, Millions) 12.90 22.35 36.80 41.55 46.91
Source Analyst x2 Analyst x2 Analyst x1 Est @ 12.91% Est @ 12.91%
Present Value
Discounted (@ 8.59%)
11.88 18.95 28.74 29.88 31.07
Present value of next 5 years cash flows A$120.53
OTCPK:FKKE.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= A$46.91 × (1 + 2.95%) ÷ (8.59% – 2.95%)
A$856.34
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= A$856.34 ÷ (1 + 8.59%)5
A$567.15
OTCPK:FKKE.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= A$120.53 + A$567.15
A$687.68
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$687.68 / 257.50
A$1.15
OTCPK:FKKE.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:FKKE.F represents 0.65574x of ASX:CQE
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.65574x
Value per Share
(Listing Adjusted, USD)
= Value per Share (AUD) x Listing Adjustment Factor
= A$ 1.75 x 0.65574
$1.15
Value per share (USD) From above. $1.15
Current discount Discount to share price of $2.00
= -1 x ($2.00 - $1.15) / $1.15
-74.2%

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

  • The current share price of Charter Hall Education Trust is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Education Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Charter Hall Education Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:FKKE.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in AUD A$0.41
ASX:CQE Share Price ** ASX (2018-10-09) in AUD A$3.05
United States of America REITs Industry PE Ratio Median Figure of 156 Publicly-Listed REITs Companies 27.22x
United States of America Market PE Ratio Median Figure of 3,017 Publicly-Listed Companies 16.41x

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

** Primary Listing of Charter Hall Education Trust.

OTCPK:FKKE.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 3.05 ÷ 0.41

7.53x

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

  • Charter Hall Education Trust is good value based on earnings compared to the US REITs industry average.
  • Charter Hall Education Trust is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Charter Hall Education Trust's expected growth come at a high price?
Raw Data
OTCPK:FKKE.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.53x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
-17.8%per year
United States of America REITs Industry PEG Ratio Median Figure of 143 Publicly-Listed REITs Companies 1.31x
United States of America Market PEG Ratio Median Figure of 2,101 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

OTCPK:FKKE.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.53x ÷ -17.8%

-0.42x

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

  • Charter Hall Education Trust earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Charter Hall Education Trust's assets?
Raw Data
OTCPK:FKKE.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in AUD A$2.78
ASX:CQE Share Price * ASX (2018-10-09) in AUD A$3.05
United States of America REITs Industry PB Ratio Median Figure of 192 Publicly-Listed REITs Companies 1.52x
United States of America Market PB Ratio Median Figure of 5,085 Publicly-Listed Companies 1.68x
OTCPK:FKKE.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 3.05 ÷ 2.78

1.1x

* Primary Listing of Charter Hall Education Trust.

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

  • Charter Hall Education Trust is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Charter Hall Education 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 Education Trust has a total score of 3/6, 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 Education Trust expected to perform in the next 1 to 3 years based on estimates from 4 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
-17.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Charter Hall Education Trust expected to grow at an attractive rate?
  • Charter Hall Education Trust's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 3%.
Growth vs Market Checks
  • Charter Hall Education Trust's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Charter Hall Education Trust's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:FKKE.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:FKKE.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts -17.8%
OTCPK:FKKE.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 2%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 0.7%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*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
OTCPK:FKKE.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:FKKE.F Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-06-30 81 46 59 2
2020-06-30 78 49 71 4
2019-06-30 72 45 71 4
OTCPK:FKKE.F Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-06-30 77 47 103
2018-03-31 74 45 105
2017-12-31 70 43 109
2017-09-30 70 41 115
2017-06-30 70 40 121
2017-03-31 69 38 119
2016-12-31 69 36 116
2016-09-30 66 35 112
2016-06-30 64 35 107
2016-03-31 64 35 101
2015-12-31 64 36 96
2015-09-30 61 33 92

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Charter Hall Education Trust's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Charter Hall Education Trust's revenue is expected to grow by 2% yearly, however this is not considered high growth (20% yearly).
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
OTCPK:FKKE.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Charter Hall Education Trust Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:FKKE.F Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-06-30 0.23 0.23 0.23 1.00
2020-06-30 0.26 0.29 0.22 2.00
2019-06-30 0.27 0.32 0.21 3.00
OTCPK:FKKE.F Past Financials Data
Date (Data in AUD Millions) EPS *
2018-06-30 0.41
2018-03-31 0.42
2017-12-31 0.43
2017-09-30 0.46
2017-06-30 0.49
2017-03-31 0.48
2016-12-31 0.47
2016-09-30 0.45
2016-06-30 0.43
2016-03-31 0.41
2015-12-31 0.39
2015-09-30 0.39

*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 Education 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 Education 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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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 Education Trust has a total score of 0/6, 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 Education 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 Education 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 Education Trust's year on year earnings growth rate has been positive over the past 5 years.
  • Charter Hall Education Trust's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Charter Hall Education Trust's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
Charter Hall Education 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 Education Trust Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:FKKE.F Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 76.91 103.13
2018-03-31 73.68 105.41
2017-12-31 70.45 108.54
2017-09-30 70.23 115.43
2017-06-30 70.01 121.45
2017-03-31 69.40 118.95
2016-12-31 68.79 116.45
2016-09-30 66.37 111.61
2016-06-30 63.95 106.77
2016-03-31 63.82 101.28
2015-12-31 63.69 95.79
2015-09-30 60.76 92.19
2015-06-30 57.84 88.58
2015-03-31 53.25 86.64
2014-12-31 48.66 84.69
2014-09-30 46.83 69.24
2014-06-30 45.01 53.79
2014-03-31 43.43 49.97
2013-12-31 41.86 46.15
2013-09-30 41.41 42.94
2013-06-30 40.96 39.73
2013-03-31 40.65 33.02
2012-12-31 40.35 26.30
2012-09-30 40.25 24.76
2012-06-30 40.15 23.21
2012-03-31 40.16 19.51 0.48

*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 Education Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Charter Hall Education Trust used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • Charter Hall Education Trust's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Charter Hall Education 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 Education Trust has a total score of 2/6, 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 Education 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 Education Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Charter Hall Education Trust's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Charter Hall Education 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 Education 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 0x 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 Education Trust Company Filings, last reported 6 months ago.

OTCPK:FKKE.F Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 710.72 302.27 2.31
2018-03-31 710.72 302.27 2.31
2017-12-31 680.24 257.78 1.21
2017-09-30 680.24 257.78 1.21
2017-06-30 628.81 252.04 2.43
2017-03-31 628.81 252.04 2.43
2016-12-31 585.21 229.94 0.30
2016-09-30 585.21 229.94 0.30
2016-06-30 531.80 205.93 0.79
2016-03-31 531.80 205.93 0.79
2015-12-31 493.81 200.85 1.12
2015-09-30 493.81 200.85 1.12
2015-06-30 445.03 197.55 0.97
2015-03-31 445.03 197.55 0.97
2014-12-31 347.59 160.58 0.36
2014-09-30 347.59 160.58 0.36
2014-06-30 306.71 148.84 1.83
2014-03-31 306.71 148.84 1.83
2013-12-31 286.58 133.57 4.82
2013-09-30 286.58 133.57 4.82
2013-06-30 233.51 127.52 0.19
2013-03-31 233.51 127.52 0.19
2012-12-31 218.71 137.26 7.50
2012-09-30 218.71 137.26 7.50
2012-06-30 212.55 137.15 8.85
2012-03-31 212.55 137.15 8.85
  • Charter Hall Education Trust's level of debt (42.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (54.5% vs 42.5% today).
  • Debt is not well covered by operating cash flow (15.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.7x coverage).
X
Financial health checks
We assess Charter Hall Education 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 Education Trust has a total score of 2/6, 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 Education 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
5.25%
Current annual income from Charter Hall Education Trust dividends. Estimated to be 5.51% next year.
If you bought $2,000 of Charter Hall Education Trust shares you are expected to receive $105 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 Education Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.52%).
  • Charter Hall Education Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.85%).
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
OTCPK:FKKE.F 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 4 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 185 Stocks 4.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1985 Stocks 2.7%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.9%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

OTCPK:FKKE.F Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2021-06-30 0.18 2.00
2020-06-30 0.17 4.00
2019-06-30 0.16 4.00
OTCPK:FKKE.F Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2018-12-17 0.160 5.302
2018-09-20 0.160 5.605
2018-06-20 0.151 5.526
2018-03-22 0.151 5.501
2017-12-18 0.151 5.464
2017-09-22 0.151 5.353
2017-06-22 0.142 5.233
2017-03-21 0.142 5.038
2016-12-08 0.142 5.544
2016-09-23 0.142 5.674
2016-06-22 0.134 4.876
2016-03-22 0.134 5.369
2015-12-17 0.134 6.062
2015-09-21 0.134 6.291
2015-06-18 0.129 5.993
2015-03-18 0.129 5.917
2015-02-16 0.128 5.846
2014-12-19 0.127 6.358
2014-08-06 0.127 6.677
2014-06-18 0.120 6.974
2014-03-19 0.120 7.074
2013-08-07 0.120 7.739
2013-06-19 0.107 7.372
2012-08-15 0.097 7.431
2012-03-21 0.100 9.759
2012-02-08 0.100 10.276
2011-08-08 0.090 10.135
2011-06-21 0.088 10.574
2011-03-21 0.086 10.557
2011-02-18 0.086 10.191
2011-02-17 0.086 10.178
2010-08-27 0.000 0.000
2010-08-26 0.007 1.016
2010-07-15 0.000 0.000
2010-02-25 0.000 0.000
2009-08-31 0.000 0.000
2009-01-07 0.137 54.244

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Charter Hall Education Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess Charter Hall Education Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Education Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Charter Hall Education Trust has a total score of 6/6, 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 Education 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
Nick Anagnostou
COMPENSATION A$126,634
AGE 49
TENURE AS CEO 13.1 years
CEO Bio

Mr. Nicholas James Anagnostou, also known as Nick, B.Bus (Prop), AAPI, A Fin, CFM is Head of Social Infrastructure at Folkestone Investment Management Limited and Folkestone Limited since 2018. Mr. Anagnostou served as Chief Executive Officer of Charter Hall Education Trust (formerly Folkestone Education Trust) at Folkestone Limited since 2017 until 2018. Mr. Anagnostou served as the Chief Executive Officer of Social Infrastructure Funds at Folkestone Limited until 2017. Mr. Anagnostou has been the Chief Executive Officer of Folkestone Investment Management Limited, the Responsible Entity of Folkestone Education Trust since December 12, 2005. He has been an Executive Director of Charter Hall Education Trust since August 04, 2008. He served as the Chief Executive Officer of Folkestone Education Trust at Folkestone Limited since September 27, 2016. He is the CEO and Executive Board member for the Folkestone CIB Fund. He joined Folkestone in September 2012 following Folkestone’s acquisition of Austock’s property business. He serves as Chief Operating Officer and Fund Manager at Folkestone Real Estate Management Limited. He serves as Fund Manager Folkestone Childcare Fund. Mr. Anagnostou serves as Chief Executive Officer at Austock Property Management Limited and has been its Fund Manager since December 12, 2005. Mr. Anagnostou was responsible for all aspects of Folkestone's Social Infrastructure Funds Management business across 4 funds and approximately $555m. He took responsibility for sourcing, capital raisings and structuring of transactions in addition to his property capabilities. He served as Head of Austock Property at Austock Group Limited until September 28, 2012. He has been Chief Operating Officer of Australian Social Infrastructure Fund since August 4, 2008. Mr. Anagnostou serves at Austock Funds Management Limited. He served as Chief Operating Officer - Austock Property at Austock Group Limited since July 1, 2009. He joined Austock Property Management Limited in December 2005 as Fund Manager and served as its Chief Operating Officer since September 2009. Mr. Anagnostou joined the Australian Education Trust as a Fund Manager and Director in 2005. He was responsible for the performance and management of the Austock Childcare Fund as well as for key funding arrangements and asset management along with responsibilities for all aspects of Austock Property, with specific focus on fund and asset management operations, investment sourcing, capital raisings, stakeholder management and transactions. He has more than 25 years of experience in the Australian commercial property and Funds Management industries. He has vast experience in real estate, including valuations, transactions, research and management. He serves as Executive Director of Austock Property Management Limited and Folkestone Real Estate Management Limited. He has been an Executive Director of Austock Property Funds Management Limited since August 2008. He served as Director of Api Fund since August 2008. Formerly, he served as a Director of Jones Lang LaSalle (Vic) in Capital Markets. Mr. Anagnostou gained valuable experience in acting for clients such as AXA Asia Pacific, GIC, Macquarie, ING, Investa, GPT and AMP. He was previously a Director of an international real estate agency where he focused on Premium and A-Grade office markets. He is a Certified Practicing Valuer/qualified property valuer, Certified Funds Manager and a Licensed Estate Agent (Vic). He is an Associate of the Australian Property Institute and Finsia. He is a guest lecturer in valuations at RMIT. Mr. Anagnostou holds a Bachelor of Business in Property (Distinction).

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

Average tenure of the Charter Hall Education Trust management team in years:

8.3
Average Tenure
  • The average tenure for the Charter Hall Education Trust management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Nick Anagnostou

TITLE
Head of Social Infrastructure & Executive Director of Charter Hall Education Trust
COMPENSATION
A$127K
AGE
49
TENURE
13.1 yrs

Travis Butcher

TITLE
General Manager of Finance - Diversified for Folkestone Investment Management Limited
TENURE
10.3 yrs

Lula Liossi

TITLE
Investor Relations Manager

Mark Stewien

TITLE
Head of Legal – Diversified at Folkestone Investment Management Limited

Sean McMahon

TITLE
Director
TENURE
0.2 yrs

Scott Martin

TITLE
Joint Company Secretary of Folkestone Investment Management Limited
TENURE
6.3 yrs
Board of Directors Tenure

Average tenure and age of the Charter Hall Education Trust board of directors in years:

6.9
Average Tenure
68
Average Age
  • The tenure for the Charter Hall Education Trust board of directors is about average.
Board of Directors

Grant Hodgetts

TITLE
Non-Executive Chairman of Folkestone Investment Management Limited
AGE
61
TENURE
3.3 yrs

Nick Anagnostou

TITLE
Head of Social Infrastructure & Executive Director of Charter Hall Education Trust
COMPENSATION
A$127K
AGE
49
TENURE
10.4 yrs

Sean McMahon

TITLE
Director
TENURE
0.1 yrs

John Johnstone

TITLE
Independent Non-Executive Director of Folkestone Investment Management Limited
COMPENSATION
A$32K
AGE
76
TENURE
14.1 yrs

Vic Cottren

TITLE
Independent Non-Executive Director of Folkestone Investment Management Limited
COMPENSATION
A$9K
AGE
76
TENURE
14.1 yrs

Michael Johnstone

TITLE
AGE
75
TENURE
14.1 yrs

David Harrison

TITLE
Director
AGE
52
TENURE
0.1 yrs

Greg Paramor

TITLE
Director
AGE
68
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
02. May 18 Sell The Vanguard Group, Inc. Company 11. Mar 16 17. Apr 18 -3,912,540 $2.28 $-8,912,486
02. May 18 Buy The Vanguard Group, Inc. Company 09. Mar 16 24. Apr 18 7,043,751 $2.28 $15,924,953
X
Management checks
We assess Charter Hall Education 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 Education 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

External News
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Simply Wall St News

Company Info

Map
Description

Charter Hall Education Trust is the largest Australian ASX-listed (ASX:CQE) real estate investment trust (A-REIT) that invests in early learning properties. Charter Hall Education Trust is managed by Charter Hall Group (ASX:CHC), one of Australia’s leading fully integrated property groups, with over $26.4 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 779 properties that is more than 5.4 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.

Details
Name: Charter Hall Education Trust
FKKE.F
Exchange: OTCPK
Founded: 2002
A$557,322,954
257,501,478
Website: http://www.charterhall.com.au
Address: Charter Hall Education 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 CQE Ordinary Units Australian Securities Exchange AU AUD 22. May 2003
OTCPK FKKE.F Ordinary Units Pink Sheets LLC US USD 22. May 2003
Number of employees
Current staff
Staff numbers
0
Charter Hall Education Trust employees.
Industry
Specialized REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/01/06 01:01
End of day share price update: 2018/10/09 00:00
Last estimates confirmation: 2018/12/14
Last earnings filing: 2018/08/07
Last earnings reported: 2018/06/30
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.