ARENA REIT (ARF)
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ARF

ARF - ARENA REIT

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: N/A
Index: ASX200 | ASX300 | ALL-ORDS

Arena REIT is an Australian real estate investment trust with a portfolio of properties focussed on childcare, healthcare, education and government tenanted facilities. It has been listed since 2013.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.31

30 Apr
2026

-0.030

OPEN

$3.32

-0.90%

HIGH

$3.35

1,108,403

LOW

$3.28

TARGET
$3.87 16.9% upside
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ASK . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DGT . DXC . DXI . DXS . GDF . GDI . HCW . HDN . NSR . PLG . REP . RFF . RGN . SCG . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
ARF: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 20.9 19.6 xxx
DPS (cps) xxx 18.3 19.2 xxx
EPS Growth xxx 29.9% - 6.4% xxx
DPS Growth xxx 4.9% 4.9% xxx
PE Ratio xxx N/A 17.3 xxx
Dividend Yield xxx N/A 5.7% xxx
Div Pay Ratio(%) xxx 87.3% 97.9% xxx

Dividend yield today if purchased 3 years ago: 4.97%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.40

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 29/09 - (franking ex-div 4.81c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx20.9
DPS All xxxxxxxxxxxxxxx18.3
Sales/Revenue xxxxxxxxxxxxxxx110.1 M
Book Value Per Share xxxxxxxxxxxxxxx308.1
Net Operating Cash Flow xxxxxxxxxxxxxxx74.3 M
Net Profit Margin xxxxxxxxxxxxxxx74.81 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx6.73 %
Return on Invested Capital xxxxxxxxxxxxxxx5.05 %
Return on Assets xxxxxxxxxxxxxxx4.73 %
Return on Equity xxxxxxxxxxxxxxx6.73 %
Return on Total Capital xxxxxxxxxxxxxxx5.15 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-201.1 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx437 M
Total Debt xxxxxxxxxxxxxxx437 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx17 M
Price To Book Value xxxxxxxxxxxxxxx1.20

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx225.4 M
Capex % of Sales xxxxxxxxxxxxxxx204.81 %
Cost of Goods Sold xxxxxxxxxxxxxxx1 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx21 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1,775 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.8

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

19/03/2026

1

Buy

$3.93

18.73%

UBS recommends ongoing caution on the Australian real estate sector in the near term, citing likely consensus earnings downgrades and persistent inflation risks.

The broker notes oil prices could rise to US$120-150/bbl if the Strait of Hormuz remains closed for 2-6 weeks.

The current environment is thought to echo 2022, when REITs fell around -30% peak-to-trough amid the Ukraine energy crisis and a 300bps rise in the cash rate.

Providing some offset, the starting point for the cash rate in this tightening cycle is more restrictive at 3.6% versus 0.1%, while valuations are considered undemanding, the analysts note.

Across coverage, the broker lowers its price targets by -7% on average.

UBS is cautious on residential exposures and remains positive on retail REITs.

For Arena REIT, the target falls to $3.93 from $4.09. Buy rating maintained.

FORECAST
UBS forecasts a full year FY26 dividend of 19.00 cents and EPS of 20.00 cents.
UBS forecasts a full year FY27 dividend of 20.00 cents and EPS of 21.00 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Moelis

11/02/2026

1

Buy

$4.15

25.38%

Moelis considers the first half result "solid", amid 3.6% like-for-like rental growth, while guidance was maintained.

Higher interest rates have signalled minor reductions to EPS forecasts and the broker considers the discount to NTA of -3% attractive despite tenant profitability challenges.

Gearing increased to 23.2% from 22.8% in the half providing capacity to support acquisitions and development. Buy rating. Target rises to $4.15 from $4.09.

FORECAST
Moelis forecasts a full year FY26 dividend of 19.30 cents and EPS of 19.60 cents.
Moelis forecasts a full year FY27 dividend of 20.20 cents and EPS of 20.50 cents.
Access Extra Coverage Research History >

ARF STOCK CHART

FNArena News on ARF

Latest REITs News

1
Australian Listed Real Estate Tables – 06-06-2022

Jun 06 2022 - Weekly Reports
2
Australian Listed Real Estate Tables – 30-05-2022

May 30 2022 - Weekly Reports
3
Australian Listed Real Estate Tables – 23-05-2022

May 23 2022 - Weekly Reports
4
Australian Listed Real Estate Tables – 16-05-2022

May 16 2022 - Weekly Reports
5
Australian Listed Real Estate Tables – 09-05-2022

May 09 2022 - Weekly Reports
6
Australian Listed Real Estate Tables – 03-05-2022

May 03 2022 - Weekly Reports
7
Australian Listed Real Estate Tables – 26-04-2022

Apr 26 2022 - Weekly Reports
8
Australian Listed Real Estate Tables – 19-04-2022

Apr 19 2022 - Weekly Reports
9
Australian Listed Real Estate Tables – 11-04-2022

Apr 11 2022 - Weekly Reports
10
Australian Listed Real Estate Tables – 04-04-2022

Apr 04 2022 - Weekly Reports