Charter Hall Long WALE REIT (ASX:CLW) lifts dividends 5.6%

Company News

by Lauren Evans

Charter Hall Long WALE REIT (ASX:CLW) has lifted its distributions by 5.1 per cent to $15.24 per share for the half year ending December 31.

The real estate investment trust lifted its operating earnings by 5.6 per cent from the prior year period as property valuations soared 8.3 per cent. These results were offset by $923 million of new property acquisitions including a 50 per cent stake in ALE Property Group.

“During 1H FY22 we successfully completed the acquisition of the ALE Property Group in partnership with Hostplus. This has seen us further improve the quality and diversity of CLW’s real estate portfolio and the resilience of CLW’s income through increasing our exposure to Australia’s leading hospitality operator, Endeavour Group," said fund manager Avi Anger.  

"In addition, we further increased our exposure to the Industrial and Logistics sector with three high quality acquisitions, two of which were secured off-market. These acquisitions were a direct result of the depth of expertise and ability of the Charter Hall management platform which the REIT benefits from."

The company provided guidance for operating earnings per share in FY22 of no less than 30.5 cents per share, reflecting growth of no less than 4.5 per cent over FY22. 

Shares in Charter Hall Long WALE REIT (ASX:CLW) are trading 1.7 per cent higher at $4.94. 

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