Charter Hall Long WALE REIT (AU:CLW) has released an update.
Charter Hall Long WALE REIT reports its FY24 results with operating earnings of $188.0 million and distributions of 26 cents per security, despite a statutory loss of $510.9 million. The REIT has reduced debt through the sale of $762.2 million in assets, leading to a strengthened balance sheet with gearing metrics improved and a portfolio occupancy rate of 99.9%. Valuations have dipped with a net decrease of $626 million, but the REIT maintains a robust capital position with significant headroom to debt covenants.
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