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Charter Hall Long WALE REIT
(Sydney:CLW)
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Rating:73Outperform
Price Target:
AU$3.50
â–¼(-0.28% Downside)
Action:Upgraded
Date:08/17/26
Overall score reflects solid fundamentals and improving cash generation with manageable leverage, reinforced by a constructive earnings outlook and strong portfolio metrics from the latest call. The main offsets are inconsistent historical profitability and currently weak/oversold technical positioning, partially balanced by an attractive yield and moderate P/E.
Positive Factors
Long-duration, well-occupied portfolio
Very high occupancy and long lease duration provide visibility into rental income and reduce near-term vacancy and reletting risk. The option extension potential further supports tenant continuity, helping preserve cash flow stability across the next several reporting periods.
Negative Factors
Higher finance costs and rate exposure
Higher borrowing costs directly reduce distributable earnings because interest is a recurring trust expense. Lower hedge coverage beyond FY27 leaves more earnings exposed to floating rates, so persistent rate pressure could constrain cash-flow growth and distribution resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
Long-duration, well-occupied portfolio
Very high occupancy and long lease duration provide visibility into rental income and reduce near-term vacancy and reletting risk. The option extension potential further supports tenant continuity, helping preserve cash flow stability across the next several reporting periods.
Read all positive factors
Charter Hall Long WALE REIT (CLW) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$2.46B
Dividend Yield7.5%
Average Volume (3M)1.98M
Price to Earnings (P/E)8.7
Beta (1Y)0.75
Revenue Growth39.66%
EPS Growth133.43%
CountryAU
EmployeesN/A
SectorReal Estate
Sector Strength53
IndustryREIT - Diversified
Share Statistics
EPS (TTM)0.39
Shares Outstanding722,356,260
10 Day Avg. Volume1,758,070
30 Day Avg. Volume1,977,035
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)0.77
Price to Sales (P/S)13.38
P/FCF Ratio4.92
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$3.66Price Target Upside4.27% Upside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)0.25
Revenue Forecast (FY)AU$338.96M
Charter Hall Long WALE REIT Business Overview & Revenue Model
Company Description
Charter Hall Long WALE REIT (CLW.AX) is an Australian Real Estate Investment Trust listed on the ASX, focusing its investments on prime property assets across Australasia. These properties are predominantly leased to corporate and government entit...
How the Company Makes Money
CLW makes money primarily by earning rental income from tenants across its property portfolio. The REIT’s revenue model is based on leasing properties under contracts that typically include fixed annual rent increases or CPI-linked escalations, wh...
Charter Hall Long WALE REIT Earnings Call Summary
Earnings Call Date:Aug 12, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Feb 10, 2027
Earnings Call Sentiment Positive
The call presents a predominantly positive outlook driven by stable earnings growth (2% increase in DPS/OPS), NTA uplift (+2.6%), strong portfolio metrics (99.9% occupancy, 9.2-year WALE), successful active portfolio management (net transactions, $188m valuation uplift) and a transformational $2bn refinance that lowered margins and extended debt tenor. Key challenges include higher finance costs (up 18.4%), some near-term expiries (3.7% in FY '27) with assumed downtime for specific assets, and exposure to higher market interest rates beyond FY '27 given lower hedge coverage into FY '28. Overall, positives materially outweigh the headwinds.Positive Updates
Earnings and Distributions
Operating earnings and distributions per security of $0.255, representing 2% growth on FY '25 and in line with management guidance. FY '27 guidance maintained at $0.255 DPS/OPS.
Negative Updates
Increased Finance Costs
Finance costs increased 18.4% year-on-year due to higher average debt drawn to fund transactions and a higher weighted average cost of debt driven by elevated floating rates in H2 FY '26.
Read all updates
Q4-2026 Updates
Positive
Negative
Earnings and Distributions
Operating earnings and distributions per security of $0.255, representing 2% growth on FY '25 and in line with management guidance. FY '27 guidance maintained at $0.255 DPS/OPS.
Read all positive updates
Company Guidance
Charter Hall Long WALE REIT (CLW) provided FY‑27 guidance of operating earnings and distributions per security of $0.255 (a 6.7% distribution yield at yesterday’s close), noting this assumes no further accretive transactions beyond those already completed; the REIT enters FY‑27 with pro‑forma balance sheet gearing of 27.5% (target range 25–35%), NTA $4.71 per security (up 2.6% year‑on‑year) and a $6.1bn portfolio valued with a $188m uplift (3.2% during FY‑26), featuring 99.9% occupancy, a 9.2‑year WALE (extendable to ~30 years with options), a 5.4% average cap rate, 3.1% average annual NPI growth with 54% of income CPI‑linked and 51% triple‑net income; CLW also completed a $2.0bn secured debt platform that extended average debt maturity by 1.6 years to 4.3 years, lowered average credit margins by ~20bps to 1.2%, and has a weighted average cost of debt of ~4.7% (spot BBSY 4.5%) with 85% FY‑27 hedging at an average fixed hedge rate of ~3.1% (49% hedged for FY‑28), and expects a modest ~10–15bps marginal headwind to cost of debt into FY‑27.Charter Hall Long WALE REIT Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
72
Positive
Cash Flow
78
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 194.52M | 181.62M | 217.92M | 222.51M | 219.70M |
| Gross Profit | 126.27M | 124.48M | 150.73M | 157.21M | 159.48M |
| EBITDA | 358.48M | 184.49M | -426.97M | 153.24M | 945.04M |
| Net Income | 275.90M | 118.28M | -510.88M | -188.99M | 911.90M |
Balance Sheet | |||||
| Total Assets | 4.98B | 4.93B | 5.25B | 6.20B | 6.48B |
| Cash, Cash Equivalents and Short-Term Investments | 18.32M | 55.37M | 22.68M | 19.68M | 19.00M |
| Total Debt | 1.51B | 1.53B | 1.70B | 1.94B | 1.83B |
| Total Liabilities | 1.59B | 1.67B | 1.88B | 2.13B | 2.02B |
| Stockholders Equity | 3.39B | 3.26B | 3.37B | 4.07B | 4.46B |
Cash Flow | |||||
| Free Cash Flow | 528.67M | 172.11M | 185.18M | 231.06M | 870.83M |
| Operating Cash Flow | 528.67M | 172.11M | 185.18M | 179.68M | 187.67M |
| Investing Cash Flow | -283.32M | 309.45M | 260.12M | -51.84M | -683.16M |
| Financing Cash Flow | -282.40M | -448.87M | -444.46M | -127.16M | 437.52M |
Charter Hall Long WALE REIT Technical Analysis
Positive
3.51
Price Trends
3.32
Positive
3.48
Negative
3.45
Negative
Market Momentum
<0.01
Negative
53.99
Neutral
65.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CLW, the sentiment is Positive. The current price of 3.51 is above the 20-day moving average (MA) of 3.27, above the 50-day MA of 3.32, and above the 200-day MA of 3.45, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 53.99 is Neutral, neither overbought nor oversold. The STOCH value of 65.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:CLW.
Charter Hall Long WALE REIT Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | AU$9.35B | 8.87 | 9.83% | 4.97% | -7.59% | 178.60% | |
73 Outperform | AU$2.46B | 8.72 | 8.20% | 7.50% | 39.66% | 133.43% | |
69 Neutral | AU$55.48B | 19.85 | 11.41% | 1.11% | 17.33% | 59.19% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | AU$6.13B | 13.05 | 4.83% | 6.45% | -28.16% | 250.74% | |
58 Neutral | AU$750.67M | -9.69 | -4.99% | 10.12% | -5.19% | -377.08% | |
54 Neutral | AU$9.75B | 27.49 | 20.47% | 2.46% | -19.06% | 6.95% |
* Real Estate Sector Average
AU:CLW
Charter Hall Long WALE REIT
3.40
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-14.14%
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4.88
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Charter Hall Long WALE REIT Corporate Events
Charter Hall Long WALE REIT appoints new director with no initial security interests
Sep 18, 2026
Charter Hall Long WALE REIT has announced the appointment of Michael Gorman as a director, effective 18 September 2026, formalised through an Initial Director’s Interest Notice lodged with the ASX. The filing confirms that Gorman currently h...
Charter Hall Long WALE REIT appoints new director with no initial security interests
Sep 18, 2026
Charter Hall Long WALE REIT has appointed Belinda Robson as a director, effective 18 September 2026, formalising the change in its board composition. The initial director’s interest notice lodged with the ASX confirms that Robson holds no re...
Charter Hall Long WALE REIT Sets Date for 2026 Securityholder AGM
Sep 18, 2026
Charter Hall Long WALE REIT has released a notice convening its 2026 Annual General Meeting of securityholders, scheduled for 15 October 2026 at 12.00pm AEDT. The documentation includes the meeting agenda, explanatory memorandum, meeting protocols...
Charter Hall Long WALE REIT refreshes board as Michael Gorman set to chair
Sep 18, 2026
Charter Hall Long WALE REIT has appointed Belinda Robson and Michael Gorman as independent non-executive directors of its responsible entity, with both bringing more than three decades of experience in commercial property funds management and real...
Charter Hall Long WALE REIT Declares Quarterly Distribution for September 2026
Sep 16, 2026
Charter Hall Long WALE REIT, trading as CLW on the ASX, is a listed property trust that owns long-lease commercial assets designed to deliver consistent income. Its stapled securities structure supports regular quarterly distributions, appealing t...
Charter Hall Long WALE REIT lodges updated governance statement and Appendix 4G
Aug 20, 2026
Charter Hall Long WALE REIT has confirmed that its corporate governance statement for the year ended 30 June 2026 is current, board-approved, and hosted on its website in accordance with ASX Listing Rules. The REIT also lodged the required Appendi...
Charter Hall Long WALE REIT Sets Out 2026 Governance Framework Aligned with ASX Standards
Aug 20, 2026
Charter Hall Long WALE REIT has detailed its 2026 corporate governance framework, underscoring the central role of the Charter Hall WALE Limited board in providing leadership and setting standards for good governance across the stapled trust struc...
Charter Hall Long WALE REIT Publishes 2026 Annual Report Highlighting Diversified Long-Lease Portfolio
Aug 20, 2026
Charter Hall Long WALE REIT has released its 2026 Annual Report, outlining its performance and activities for the financial year ended 30 June 2026. The report highlights leadership and governance by its responsible entity, Charter Hall WALE Limit...
Charter Hall Long WALE REIT Director Increases Stake via DRP Participation
Aug 18, 2026
Charter Hall Long WALE REIT has disclosed a change in director David Harrison’s interests in the trust’s securities, reflecting both direct and indirect holdings. The update details his involvement through the Harrison Family Trust and...
Charter Hall Long WALE REIT Seeks Quotation for New Stapled Securities
Aug 14, 2026
Charter Hall Long WALE REIT is an Australian real estate investment trust listed on the ASX under the code CLW. It invests in property assets backed by long weighted average lease expiries, providing stable, income-focused exposure to commercial r...
Charter Hall Long WALE REIT lifts earnings and reshapes portfolio with long-lease, defensive assets
Aug 13, 2026
Charter Hall Long WALE REIT reported full‑year 2026 operating earnings of $181.9 million, or 25.5 cents per security, up 2.0% year on year, with matching distributions and statutory earnings of $275.9 million. Net tangible assets rose 2.6% t...
Charter Hall Long WALE REIT profit more than doubles on valuation gains
Aug 13, 2026
Charter Hall Long WALE REIT reported a 128.3% jump in statutory profit to $275.9 million for the year to 30 June 2026, driven largely by $150.7 million in net fair value gains on investment properties, while total revenue rose 5.8% to $194.3 milli...
Charter Hall Long WALE REIT Sets June 2026 Distribution and AMIT Fund Payment
Aug 11, 2026
Charter Hall Long WALE REIT has declared its 30 June 2026 quarterly distribution, confirming a total cash payout of 6.375 cents per stapled security, payable on 14 August 2026. The responsible entity has also confirmed the trust’s status as ...
BlackRock exits substantial holder position in Charter Hall Long WALE REIT
Jul 26, 2026
BlackRock Group has notified Charter Hall Long WALE REIT that it has ceased to be a substantial holder in the trust, filing a formal notice of ceasing substantial shareholding under section 671B of the Corporations Act 2001. The change, authorised...
BlackRock Ceases to Be Substantial Holder in Charter Hall Long WALE REIT
Jul 21, 2026
BlackRock Group has lodged a Form 605 notice stating it has ceased to be a substantial holder in Charter Hall Long WALE REIT, marking a change in the REIT’s institutional investor base. The filing, signed by an authorised BlackRock signatory...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.