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Charter Hall Retail REIT ( (AU:CQR) ) just unveiled an update.
Charter Hall Retail REIT has announced a strategic move to transfer its joint venture investments and four wholly-owned assets into the Charter Hall Convenience Retail Fund (CCRF), a newly established wholesale pooled fund. This transaction, which includes a $294 million asset sale and a $385 million foundation investment, aims to reduce the company’s gearing and enhance its earnings growth potential. By becoming the largest investor in CCRF, Charter Hall Retail REIT positions itself to benefit from the fund’s growth to a projected $2.5 billion portfolio, aligning with its strategy to focus on high-performing assets and long-term earnings growth.
The most recent analyst rating on (AU:CQR) stock is a Hold with a A$4.10 price target. To see the full list of analyst forecasts on Charter Hall Retail REIT stock, see the AU:CQR Stock Forecast page.
More about Charter Hall Retail REIT
Charter Hall Retail REIT operates in the real estate investment trust (REIT) industry, focusing on retail properties. It primarily invests in convenience shopping centers and net-lease retail assets across metropolitan areas in Australia. The company is known for partnering with wholesale investors, particularly in the convenience retail sector.
Average Trading Volume: 1,400,974
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$2.27B
For a thorough assessment of CQR stock, go to TipRanks’ Stock Analysis page.