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Charter Hall Group CHC Stock Quote

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Morningstar‘s Stock Analysis CHC

Currency in AUD
Is it the right time to buy or sell?
Is it the right time to buy or sell?

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Another Strong Result From Charter Hall. One of the World’s Best Fund Managers Looks Undervalued

Alexander Prineas Equity Analyst

Analyst Note

| Alexander Prineas |

Our fair value estimate for Charter Hall rises 4% to AUD 15.85 due to time value of money, and the group’s preparedness for challenging market conditions. Assuming Charter Hall achieves 2023 guidance, the stock trades on a forward price/earnings ratio of 15 times, which looks cheap given the group’s growth profile.

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Key Statistics CHC

Company Profile CHC

Business Description

Charter Hall Group’s main activity is managing property funds for retail and institutional investors, and listed REITs such as Charter Hall Retail REIT, Charter Hall Social Infrastructure REIT, and Charter Hall Long WALE REIT. More than two thirds of earnings come from funds management and we expect this proportion to increase over time. Strong returns generated substantial performance fees over the last five years, which we expect to moderate due to lower property market returns in future, however regular base fees and intermittent performance fees should continue. Charter Hall co-invests in its funds, so a portion of its earnings come from rent, as well as development fees and development profits on projects that it manages.

No.1 Martin Place, Level 20
Sydney, NSW, 2000, Australia
T +61 286519000
Industry REIT - Diversified
Most Recent Earnings
Fiscal Year End Jun 30, 2023