CHARTER HALL RETAIL REIT (CQR)
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CQR

CQR - CHARTER HALL RETAIL REIT

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 17.33
Index: ASX200 | ASX300 | ALL-ORDS

Charter Hall Retail is an Australian Real Estate Investment Trust with a portfolio of mainly supermarket and convenience-plus shopping centres. It was established and listed in 1995.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.15

02 Oct
2025

0.030

OPEN

$4.13

0.73%

HIGH

$4.16

1,295,001

LOW

$4.12

TARGET
$4.343 4.7% upside
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . ASK . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . DGT . DXC . DXI . DXS . ECF . GDF . GDI . HCW . HDN . NSR . PLG . REP . RFF . RGN . SCG . TGP . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
CQR: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 36.8 26.0 xxx
DPS (cps) xxx 24.7 25.4 xxx
EPS Growth xxx 100.0% - 29.2% xxx
DPS Growth xxx 0.0% 2.8% xxx
PE Ratio xxx N/A 15.9 xxx
Dividend Yield xxx N/A 6.1% xxx
Div Pay Ratio(%) xxx 67.1% 97.6% xxx

Dividend yield today if purchased 3 years ago: 6.64%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.97

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: 24/12 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx36.8
DPS All xxxxxxxxxxxxxxx24.7
Sales/Revenue xxxxxxxxxxxxxxx194.7 M
Book Value Per Share xxxxxxxxxxxxxxx463.5
Net Operating Cash Flow xxxxxxxxxxxxxxx144.0 M
Net Profit Margin xxxxxxxxxxxxxxx109.81 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx8.05 %
Return on Invested Capital xxxxxxxxxxxxxxx5.69 %
Return on Assets xxxxxxxxxxxxxxx5.29 %
Return on Equity xxxxxxxxxxxxxxx8.05 %
Return on Total Capital xxxxxxxxxxxxxxx2.14 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-49.5 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 xxxxxxxxxxxxxxx286 M
Long Term Debt xxxxxxxxxxxxxxx1,163 M
Total Debt xxxxxxxxxxxxxxx1,449 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx39 M
Price To Book Value xxxxxxxxxxxxxxx0.83

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx50.2 M
Capex % of Sales xxxxxxxxxxxxxxx25.78 %
Cost of Goods Sold xxxxxxxxxxxxxxx81 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx30 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx2,045 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

0.7

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

19/08/2025

3

Neutral

$4.12

-0.72%

UBS notes Charter Hall Retail REIT's FY25 operating EPS and FY26 were largely in line with expectations. 

One key takeaway was contribution from HPI acquisition in 2H25 implied $21m annualised vs the broker $22m forecast, and expected to be higher in FY26.

The broker also believes Charter Hall Convenience Retail Fund (CCRF) will increasingly be a key growth driver vs core portfolio.

Further upside will likely need balance sheet acquisitions, according to the broker, but CCRF may crowd the REIT out of some deals.

Neutral. Target rises to $4.12 from $3.95 based on property yield of 6%.

FORECAST
UBS forecasts a full year FY26 dividend of 25.40 cents and EPS of 26.20 cents.
UBS forecasts a full year FY27 dividend of 25.60 cents and EPS of 26.70 cents.

Ord Minnett

xx/xx/xxxx

0

xxxxxxxxx xx xxxxxxxx

xx.xx%

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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

2

xxxxxxx xx xxxxxxxxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Moelis

20/08/2025

3

Downgrade to Hold from Buy

$4.33

4.34%

Charter Hall Retail REIT reported FY25 operating earnings per unit (OEPU) of 25.4c and distributions of 24.7cpu, both in line with guidance.

FY26 guidance of 26.3c OEPU and 25.4c DPU is ahead of the broker's prior estimates.

Moelis highlights the vending of $825m of assets into the new Charter Hall Convenience Retail Fund, reducing shopping centre exposure while retaining a $385m stake in the vehicle.

Gearing falls to 35% on a pro forma basis, with 77% of FY26 debt hedged but only 20% in FY27, leaving the REIT well positioned to benefit from expected rate cuts, in the broker's opinion.

Operating trends remain sound, suggests Moelis, with like-for-like net property income (NPI) growth of 2.6% year-on-year, specialty moving annual turnover (MAT) up 3.6% and leasing spreads at 5.5%.

The analyst notes portfolio cap rates contracted -8bps to 5.74%, lifting net tangible assets (NTA) per unit 1.5% to $4.64, with low shopping centre vacancy of 1.6%.

Moelis raises its target price to $4.33 from $3.94 but downgrades to Hold from Buy, citing valuation after an around 20% share price rally in six months.

FORECAST
Moelis forecasts a full year FY26 dividend of 25.40 cents and EPS of 26.30 cents.
Moelis forecasts a full year FY27 dividend of 26.60 cents and EPS of 27.50 cents.
Access Extra Coverage Research History >

CQR STOCK CHART

FNArena News on CQR

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