Property funds under management – the engine room of Charter Hall’s business – rose 9.5 per cent to $71.9 billion during 2023.
“Conservative” guidance: Charter Hall CEO David Harrison.
“If you look at the history of this group we’ve always been able to secure large portfolios during any particular year. I don’t see the next 12 months will be any different, but we’ve been pretty conservative in our guidance.”That conservative approach was nevertheless reassuring for investors, who bought heavily into Charter Hall’s 2024 distribution guidance, with its stock closing 3.6 per cent, or 37¢, higher at $10.77 after trading even higher during Monday.
Charter Hall expects its 2024 operating earnings to fall more than 19 per cent to around 75¢ per security, a figure which is a little below consensus. However, Charter Hall has been able to consistently deliver on improved distributions, even as earnings fall, by modifying the ratio at which is pays out earnings as distributions.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
I just sold my investment property, how do I axe my tax?The fact that you have capital gains tax to pay means you’ve made a profitable investment. However, I understand wanting to reduce this liability further.
Read more »
I just sold my investment property, how do I axe my tax?The fact that you have capital gains tax to pay means you’ve made a profitable investment. However, I understand wanting to reduce this liability further.
Read more »
I just sold my investment property, how do I axe my tax?The fact that you have capital gains tax to pay means you’ve made a profitable investment. However, I understand wanting to reduce this liability further.
Read more »
Norway wealth fund CEO ‘staying put’ in commercial propertyPoor returns in unlisted property and renewable energy infrastructure pulled down the performance of Norway’s $2 trillion sovereign wealth in the first half of the year.
Read more »
China’s property headaches to take a toll on heavyweight minersSoftening global demand for steel, thanks to the ongoing turbulence in China’s property sector, is bad news for Australia’s largest export - iron ore.
Read more »
China’s property headaches to take a toll on heavyweight minersSoftening global demand for steel, thanks to the ongoing turbulence in China’s property sector, is bad news for Australia’s largest export - iron ore.
Read more »