QUALITAS REAL ESTATE INCOME FUND (QRI)
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QRI

QRI - QUALITAS REAL ESTATE INCOME FUND

FNArena Sector : NONE
Year End: June
GICS Industry Group : NONE
Debt/EBITDA: 0
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.615

02 Oct
2025

-0.005

OPEN

$1.62

-0.31%

HIGH

$1.63

1,019,483

LOW

$1.62

TARGET
$1.60 -0.9% downside
FNARENA'S MARKET CONSENSUS FORECASTS
QRI: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 13.3 11.9 xxx
DPS (cps) xxx 13.2 11.9 xxx
EPS Growth xxx - 5.9% - 10.6% xxx
DPS Growth xxx - 7.0% - 9.8% xxx
PE Ratio xxx N/A 13.6 xxx
Dividend Yield xxx N/A 7.4% xxx
Div Pay Ratio(%) xxx 99.1% 100.0% xxx

Dividend yield today if purchased 3 years ago: 9.03%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 8.17

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: 05/03 - ex-div 1.13c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx13.3
DPS All xxxxxxxxxxxxxxx13.2
Sales/Revenue xxxxxxxxxxxxxxx79.5 M
Book Value Per Share xxxxxxxxxxxxxxx160.1
Net Operating Cash Flow xxxxxxxxxxxxxxx-230.9 M
Net Profit Margin xxxxxxxxxxxxxxx84.07 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx8.10 %
Return on Invested Capital xxxxxxxxxxxxxxx8.10 %
Return on Assets xxxxxxxxxxxxxxx8.02 %
Return on Equity xxxxxxxxxxxxxxx8.10 %
Return on Total Capital xxxxxxxxxxxxxxx8.10 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-293.0 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 xxxxxxxxxxxxxxx0 M
Total Debt xxxxxxxxxxxxxxx0 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx9 M
Price To Book Value xxxxxxxxxxxxxxx1.00

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx0.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.00 %
Cost of Goods Sold xxxxxxxxxxxxxxx13 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx-1 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx946 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

26/08/2025

1

Buy

$1.60

-0.93%

Following FY25 results for Qualitas Real Estate Income Fund, Citi highlights ongoing strong margins above the RBA cash rate with no arrears or impairments.

The portfolio consists of 55 loans, weighted to senior investment, land and construction loans, with an average maturity of 1.26 years and a 67% loan-to-value ratio.

The broker notes 68% of the portfolio is residential, with 44% located in NSW. Private credit growth is noted as banks lag in commercial real estate financing, while office valuations appear to have bottomed and logistics and industrial remain strong.

Citi lowers its FY26 earnings forecast slightly on softer interest income but maintains its $1.60 target price and a Buy rating.

FORECAST
Citi forecasts a full year FY26 dividend of 11.90 cents and EPS of 11.90 cents.
Citi forecasts a full year FY27 dividend of 11.30 cents and EPS of 11.40 cents.
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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

0

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
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