Macquarie Sticks to Their Buy Rating for Charter Hall Group (CTOUF)

In a report released today, Stuart McLean from Macquarie maintained a Buy rating on Charter Hall Group (CTOUFResearch Report), with a price target of A$14.63. The company’s shares closed yesterday at $7.98.

McLean covers the Financial sector, focusing on stocks such as Mirvac Group, Vicinity Centres, and Charter Hall Group. According to TipRanks, McLean has an average return of 1.4% and a 55.00% success rate on recommended stocks.

Currently, the analyst consensus on Charter Hall Group is a Strong Buy with an average price target of $10.18.

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CTOUF market cap is currently $3.9B and has a P/E ratio of 5.98.

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Charter Hall Group is a property fund manager and developer managing a suite of institutional, wholesale, and retail unlisted property funds in which it holds investments. The funds are diversified across the office, retail, industrial, and residential sectors. Charter Hall’s business comprises two divisions: property investment and property funds and development management. The firm has been an active acquirer of property in recent years, and has had no shortage of investors willing to invest in these assets via the firm’s property management platform. This has been an extremely lucrative strategy given the rise in asset values flows through to high annual base fees and periodic performance fees.

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