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Charter Hall Retail sets guidance for fiscal FY'18 earnings

Charter Hall Retail REIT is anticipating its fiscal full-year 2018 per-unit earnings to be in the range of 30.40 Australian cents to 30.60 cents, with the distribution payout ratio expected to remain between 90% and 95%.

The forecast does not put into account any unforeseen changes to operating conditions and is based on the successful completion of asset sales and acquisitions.

CEO Greg Chubb said the company will continue to focus on convenience-based nondiscretionary retail uses, as the trust has carried out its portfolio repositioning strategy, which started 18 months prior.

The real estate investment trust also noted that it contracted to sell 11 lower-growth properties worth A$229.8 million at an average yield of 6.9% during the six months ended Dec. 31, 2017. In this first fiscal half, it also enhanced the quality of its portfolio and delivered on a disciplined investment strategy to lift the properties' earnings.

It highlighted the acquisitions of the Salamander Bay Centre in New South Wales for A$174.5 million and the Highfields Village shopping center in Queensland to realize this strategy, as well as the redevelopment and expansion of two properties.