ASPEN GROUP LIMITED (APZ)
Share Price Analysis and Chart

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APZ

APZ - ASPEN GROUP LIMITED

FNArena Sector : Real Estate
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 3.44
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$5.24

25 Jun
2026

-0.020

OPEN

$5.26

-0.38%

HIGH

$5.29

237,728

LOW

$5.15

TARGET
$5.95 13.5% upside
Franking for last dividend paid out: 36%
OTHER COMPANIES IN THE SAME SECTOR
DGH . HMC . PXA . REA . RMY . UBN .
FNARENA'S MARKET CONSENSUS FORECASTS
APZ: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 31.9 23.1 xxx
DPS (cps) xxx 11.0 12.0 xxx
EPS Growth xxx 13.4% - 27.6% xxx
DPS Growth xxx 10.0% 9.1% xxx
PE Ratio xxx N/A 20.5 xxx
Dividend Yield xxx N/A 2.5% xxx
Div Pay Ratio(%) xxx 34.5% 51.9% xxx

Dividend yield today if purchased 3 years ago: 6.36%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.33

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: 29/06 - ex-div 5.5c (franking 36%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx31.9
DPS All xxxxxxxxxxxxxxx11.0
Sales/Revenue xxxxxxxxxxxxxxx141.2 M
Book Value Per Share xxxxxxxxxxxxxxx265.9
Net Operating Cash Flow xxxxxxxxxxxxxxx45.7 M
Net Profit Margin xxxxxxxxxxxxxxx51.39 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx12.57 %
Return on Invested Capital xxxxxxxxxxxxxxx10.28 %
Return on Assets xxxxxxxxxxxxxxx8.69 %
Return on Equity xxxxxxxxxxxxxxx12.57 %
Return on Total Capital xxxxxxxxxxxxxxx6.33 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx19.3 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx64 M
Long Term Debt xxxxxxxxxxxxxxx159 M
Total Debt xxxxxxxxxxxxxxx223 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx5 M
Price To Book Value xxxxxxxxxxxxxxx1.96

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx2.5 M
Capex % of Sales xxxxxxxxxxxxxxx1.80 %
Cost of Goods Sold xxxxxxxxxxxxxxx68 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx26 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx774 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

1.0

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

25/06/2026

1

Buy

$5.40

3.05%

Citi views the May CPI underpins some "relief" for Australian real estate. The broker's economists have moved an expected RBA rate hike to November, which is considered as a near-term positive for A-REITS, relieving the most intense pressure on finance costs.

The impact is not uniform across the different segments, the analyst stresses. Higher inflation is better for landlords with CPI-linked leases such as retail, industrial.

Conversely, fund managers and highly geared REITS exposed to a further bond yield sell-off are more sensitive to higher inflation.

The analyst states Scentre Group ((SCG)) as the structural winner as its above-peers financing costs trend lower. Scentre and Vicinity Centres ((VCX)) are inflation plays.

Goodman Group ((GMG)) and BWP Trust ((BWP)) are defensive. Stockland ((SGR)), Gemlife Communities Group and Aspen Group for a recovery in housing affordability.

Buy rated. Target $5.40.
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

2

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Moelis

14/04/2026

1

Upgrade to Buy from Hold

$5.98

14.12%

Moelis upgrades its rating on Aspen Group to Buy from Hold while maintaining a $5.98 price target following the recent share price decline.

The broker considers the -20% retreat since February an attractive entry point as the company delivers strong operational results.

Operating earnings per share for the first nine months reached 17.6c, representing 82% of the unchanged full-year guidance of 21.5c.

While macro uncertainty following conflict in the Middle East presents a risk to interest rates, the broker expects resilient rental income and development settlements to underpin the operational performance.

Estimates were slightly adjusted to account for higher funding costs, partially offset by more optimistic leasing assumptions.

FORECAST
Moelis forecasts a full year FY26 dividend of 11.40 cents and EPS of 21.50 cents.
Moelis forecasts a full year FY27 dividend of 12.50 cents and EPS of 22.80 cents.
Access Extra Coverage Research History >

APZ STOCK CHART

FNArena News on APZ

Latest Real Estate News

1
ESG Focus: Will Your Property Be Uninsurable By 2030?

May 05 2022 - ESG Focus
2
Can REA Group Stay The FY22 Course?

Feb 07 2022 - Australia
3
Is Valuation The Issue Now For REA Group?

Nov 08 2021 - Australia
4
REA: Wait For Lower Entry Point

Aug 17 2021 - Technicals
5
REA Group: Upside Break?

May 04 2021 - Technicals
6
REA Group Instils Confidence, Valuation Not So

Feb 08 2021 - Australia
7
Australian Broker Call *Extra* Edition – Sep 16, 2020

Sep 16 2020 - Daily Market Reports
8
Tailwinds Strengthening For REA Group

Aug 10 2020 - Australia
9
Rudi’s View: Price Targets Can Be Your Friend

Jun 25 2020 - Rudi's View
10
Is The Co-Working Space Dead?

Jun 19 2020 - Weekly Reports