Winston’s Weekly: Contrasting performances from Charter Hall & Dexus
Winston Sammut, the Director Property of Euree Asset Management, gives his weekly take on the REITs sector.
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Winston Sammut, the Director Property of Euree Asset Management, gives his weekly take on the REITs sector.
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A snapshot of the stocks on the move, featuring Red Metal (ASX:RDM), Gladiator Resources (ASX:GLA) and Charter Hall (ASX:CHC).
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The companies that present opportunities and pitfalls in the current real estate sector within Australia.
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20 Jul 2023 - Australia's largest landlords have recently downgraded the values of their office block portfolios, but investors are seeking deeper discounts amid a significant gap between public and private valuations.
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The Neutral rating is retained and the target price increases to $21.19 from $19.37.
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The broker revises FY22 and FY23 estimates up by 11.6% and 10.6%, increasing the target to $19.37 from $18.87. Neutral maintained.
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Upgrades from Goodman Group and Charter Hall reveal that the pandemic is now delivering good times in the rebound phase for the property sector after crimping activity in 2020.
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Airlie's Will Granger looks at one of the ASX’s top performers over the past decade, Charter Hall, which has delivered a total shareholder return of 19% per annum since listing in 2005.
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Guidance is for earnings per security of at least $0.57 and the broker would not be surprised if the actual outcome is higher. Neutral rating maintained. Target rises to $15.43 from $14.40.
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Charter Hall has made a habit of upgrading guidance then beating this at the result. Now, FY21 has been upgraded for the third time.
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