Charter Hall Group
ASX-CHC
Company Overview
With over 30 years' experience in property investment and funds management, we're one of Australia's leading fully integrated property groups. We use our property expertise to access, deploy, manage and invest equity across our core sectors: office, retail, industrial & logistics and social infrastructure. Operating with prudence, we've carefully curated a $41.8 billion plus diverse portfolio of over 1100 high quality, long leased properties. Partnership and financial discipline are at the heart of our approach. Acting in the best interest of customers and communities, we combine insight and inventiveness to unlock hidden value. Taking a long term view, our $6.8 billion development pipeline delivers sustainable, technologically enabled projects for our customers. The impacts of what we do are far-reaching. From helping businesses succeed by supporting their evolving workplace needs, to providing investors with superior returns for a better retirement, we're powered by the drive to go further.
Name
Charter Hall Group
CEO
David William Harrison
Website
www.charterhall.com.au
Sector
Diversified REITs
Year Founded
1991
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Bulls Say
Charter Hall’s investment vehicles are gaining investor inflows due to their scale, strong track records, management expertise, and significant development pipeline.
The funds management property portfolio is high quality, with long lease expiries, defensively positioned sector exposure, and diversified tenant portfolio.
New fund inflows add to Charter Hall’s base fee revenue. Although it is not risk-free, long lock-ins on its funds management vehicles bestow annuity-like characteristics to this revenue.
Bears Say
Low interest rates had encouraged the strong demand for Charter Hall’s property funds in the past. However, record low interest rates during covid are unlikely to return.
Rival REITs are racing to compete in the property funds management sector. Management fees could be squeezed.
Over a third of Charter Hall’s funds management portfolio is office. Office demand has been hurt by structural threats from hybrid working and is also sensitive to business conditions and market sentiment.