Register For Our Mailing List

Register to receive our free weekly newsletter including editorials.

Charter Hall

  •   15 February 2021

Charter Hall Retail REIT 1H FY21 Results

15 February 2021 - Charter Hall Retail REIT (ASX:CQR) (CQR or the REIT) today announces its 1H FY21 results for the period ended 31 December 2020.

Key financial results:

  • Operating earnings of $75.2 million up $5 million or 7.1% on 1H FY20 of $70.2 million
  • Operating earnings of 13.17 cents per unit (cpu) down 17.1% on 1H FY20 of 15.88 cpu
  • Statutory profit of $82.8 million, up $16.1 million or 24.1% on 1H FY20 of $66.7 million
  • Net cashflow from operating activities of $75.7 million up $6.5 million or 9.4% on 1H FY20 of $69.2 million
  • Net cashflow from operating activities of 13.26 cpu down 15.4% on 1H FY20 of 15.67 cpu
  • Distribution of 10.7cpu up 7.0% from 10.0 cpu on 2H FY20
  • COVID-19 tenant support of $5.8 million provided during the period down from $10.7 million for 2H FY20
  • Portfolio look-through gearing of 34.6%1 up from 32.3% at 30 June 2020
  • Weighted average debt maturity of 3.8 years, no debt maturing until FY22
  • Moody’s affirmed Baa1 issuer rating with stable outlook
  • Liquidity of $304 million consisting of cash and undrawn debt facilities

Operating highlights:

  • 8.2% Supermarket MAT growth, up from 5.2% at June 2020
  • Supermarkets in turnover increased to 65%2, up from 61% at June 2020
  • Total MAT growth3 of 7.1%, up from 3.9% at June 2020
  • Contribution from major tenants to portfolio income 54.1%, up from 51.4% at June 2020
  • Shopping centre portfolio occupancy of 97.8%, up from 97.3% at June 2020
  • Specialty leasing spreads of +2.5% with 119 specialty lease renewals (+0.6% leasing spread) and 105 new leases (+5.9% leasing spreads)
  • Specialty tenant retention rate normalised to 82%, up from 72% at June 2020
  • Portfolio cap rate of 6.03%, unchanged from June 2020
  • Expansion of bp partnership with acquisition of 70 Long WALE convenience retail properties leased to bp in New Zealand




Most viewed in recent weeks

Super changes, the Budget and 2021 versus 2022

Josh Frydenberg's third budget contained changes to superannuation and other rules but their effective date is expected to be 1 July 2022. Take care not to confuse them with changes due on 1 July 2021.

Noel's share winners and loser plus budget reality check

Among the share success stories is a poor personal experience as Telstra's service needs improving. Plus why the new budget announcements on downsizing and buying a home don't deserve the super hype.

Grantham interview on the coming day of reckoning

Jeremy Grantham has seen it all before, with bubbles every 15 years or so. The higher you go, the longer and greater the fall. You can have a high-priced asset or a high-yielding asset, but not both at the same time.

Whoyagonnacall? 10 unspoken risks buying off-the-plan

All new apartment buildings have defects, and inexperienced owners assume someone else will fix them. But developers and builders will not volunteer to spend time and money unless someone fights them. Part 1

Buffett says stock picking is too hard for most investors

Warren Buffett explained why he believes most investors should not pick stocks but simply own an S&P 500 index fund. "There's a lot more to picking stocks than figuring out what’s going to be a wonderful industry."

Should investors brace for uncomfortably high inflation?

The global recession came quickly and deeply but it has given way to a strong rebound. What are the lessons for investors, how should a portfolio change and what role will inflation play?

Latest Updates

Exchange traded products

ETFs are the Marvel of listed galaxies, even with star WAR

Until 2018, LICs and LITs dominated ETFs, much like the Star Wars franchise was the most lucrative in the world until Marvel came along. Now ETFs are double their rivals, just as Marvel conquered Star Wars.


Four leading tech stocks now look cheap

There are few opportunities to buy tech heavyweights at attractive prices. In Morningstar’s view, four global leaders are trading at decent discounts to their fair values, indicating potential for upside.


Why copper prices are at all-time highs

Known as Dr Copper for the uncanny way its price anticipates future economic activity, copper has hit all-time highs. What are the forces at play and strategies to benefit from the electric metal’s strength?


Baby bust: will infertility shape Australia's future?

In 1961, Australian women had 3.5 children on average but by 2018, this figure stood at just 1.7. Falling fertility creates a shift in demographics and the ratio of retirees to working-age people.

SMSF strategies

The Ultimate SMSF EOFY Checklist 2021

The end of FY2021 means rules and regulations to check for members of public super funds and SMSFs. Take advantage of opportunities but also avoid a knock on the door. Here are 25 items to check.


How long will the bad inflation news last?

The answer to whether the US inflation increase will prove temporary or permanent depends on the rates of growth of the quantity of money. It needs to be brought down to about 0.3% a month, and that's a problem.


The ‘cosmic’ forces leading the US to Modern Monetary Theory

If the world’s largest economy adopted a true MMT framework, the investment implications would be enormous. Economic growth would be materially greater but inflation and interest rates would also be much higher.



© 2021 Morningstar, Inc. All rights reserved.

The data, research and opinions provided here are for information purposes; are not an offer to buy or sell a security; and are not warranted to be correct, complete or accurate. Morningstar, its affiliates, and third-party content providers are not responsible for any investment decisions, damages or losses resulting from, or related to, the data and analyses or their use. Any general advice or ‘regulated financial advice’ under New Zealand law has been prepared by Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or Morningstar Research Ltd, subsidiaries of Morningstar, Inc, without reference to your objectives, financial situation or needs. For more information refer to our Financial Services Guide (AU) and Financial Advice Provider Disclosure Statement (NZ). You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Articles are current as at date of publication.
This website contains information and opinions provided by third parties. Inclusion of this information does not necessarily represent Morningstar’s positions, strategies or opinions and should not be considered an endorsement by Morningstar.

Website Development by Master Publisher.