CQR - Charter Hall Retail REIT

[Joe Blow]

Charter Hall Retail REIT (CQR) was previously known as Macquarie Countrywide Trust (MCW).

For previous discussion of this company please see the MCW thread, which can be found here: https://www.aussiestockforums.com/forums/showthread.php?t=10513

 

[nulla nulla]

Hi Joe

Is it worthwhile (or possible) to transfer some of the more recent posts from the MCW thread to this thread to maintain the coninuity of the posts?

best regards

nulla

 

[Joe Blow]

Hi Joe

Is it worthwhile (or possible) to transfer some of the more recent posts from the MCW thread to this thread to maintain the coninuity of the posts?

best regards

nulla

Hi Nulla,

There were really only a few posts made this year in the MCW thread so I'll just quote the most recent ones here to bring people up to date. You might like to post a chart and a brief update after that and hopefully that will provide enough information for those interested in CQR.

I agree that the yield at the present share price level is very attractive for someone simply looking to park some spare funds. However, in my opinion the share price is likely to remain volitile for some time, until some real signs of recovery occur in the USA in respect of a lowering unemployment and an increase in home building/financing.
Macquarie Country Wide property portfolio is predominantly the smaller shopping malls the likes of which Westfield and Centro considered too small to invest in.

These malls have been hardest hit by shop vacancies and incentives to existing tennants due to the economic downturn and the resultant drop in retail spending by the US citizens.
However, when the US starts to show recovery in this area the share price will rise acordingly. In the meantime the share price is likely to rise and fall and provide some trading opportunities as well as lower entry prices for the investor looking to maximise their yield returns.

hello,

they have sold a heap of the US properties though Nulla,

they held them far too long, also continued to sell aussie assets

pathetic that the staff have simply moved over to charter hall, yes i have told them

thankyou
robots

The recent $0.535 - $0.54 level is starting to look like a level of support. It could be worth testing with a modest buy to see if it can trade up to the February March resistance level of $0.59. Maybe $0.565 - $0.57 would be more realistic as it appears to be breaking out of the oversold area.

It seems odd that Charter Hall released an update in April for the period ending 31 December 2009 (As they did with CQO). I would have expected they would have provided an update for the quarter ending 31/03/2010.

 

[nulla nulla]

This is the most recent chart I posted on 16 April 2010 on the old site. I believe it may have gained a little ground since then.

 

[knightofsx33]

I consider charter hall as a very honest company since they slashed earnings, I expect profits to return and the sp to rally from today's lows to a more reasonable level. i am patiently waiting for something good to happen and I hope everything goes well for the financial industry as a whole not for my personal profits but for the wellbeing of the society.

 

[buysellmestuffed]

I can't get much info on this stock ,REIT was valued at 72 c a share , they sold 85% of there american shopping centres worth 15c a share for the american assets , they got back 220 million from the proceeds so i'm thinking 72-15 = 57c a share but they still own 15 shopping centres over there and apparently there doing well and got back 220 mill in cash with no debt to service .

I think they have another div to pay about 1.6 - 2 c on june 24th 2010 .

Thats about what i think i know , i can't get a valuation or balance sheet on there affairs or if that dividend is going to be paid and how much , does anyone have more info than that .??

And yes i own the stock .

Is it a good REIT if not what is better

 

[drsmith]

Thats about what i think i know , i can't get a valuation or balance sheet on there affairs or if that dividend is going to be paid and how much , does anyone have more info than that .??

http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=CQR

You might have to do a search for past company announcements to get to the latest 6-monthly/annual report.

 

[buysellmestuffed]

Thats where i got all the information from , but its not up to date , even though its fresh
I know it will come out in due time but that dosn't help my decision making now . I sent them an email requesting the information but i suppose its esier to delete it than answer it .

I suppose i will have to ring them , i would have thought that the information regarding there dividend would have been posted somewhere seeing as it's on the 24th june 2010.

 

[drsmith]

Core earnings for the full year to 30 June 2010 is forecast to be apprixomately 6.5 cents per unit, with distributions for the full year to reflect a payout ratio in the range of 75% to 85%.

http://www.asx.com.au/asxpdf/20100415/pdf/31psf7fg5rgfnw.pdf

The statement is a bit wishy washy because they don't want to point out in big, bold text that the distribution is being reduced nor do they want to commit themselves to an actual amount.

As the interim distribution was 3 cps that means the final is expected to be in the range 1.9 cps to 2.5 cps. Anticiapte it being at the lower end of that range and you are less likely to be dissapointed.

 

[buysellmestuffed]

Thats where i got all the information from , but its not up to date , even though its fresh
I know it will come out in due time but that dosn't help my decision making now . I sent them an email requesting the information but i suppose its esier to delete it than answer it .

I suppose i will have to ring them , i would have thought that the information regarding there dividend would have been posted somewhere seeing as it's on the 24th june 2010.

Thanks DOC for your help.

The email reply came through.


Thank you for your email.

We have not given guidance on the June distribution as of yet, except for stating that we
forecast core earnings for the full year FY10 to be 6.5cpu and that distributions for the
full year will reflect a payout ratio between 75% and 85% of core earnings. Note this
includes the 3.0cpu already paid.

The net tangible assets per unit were $0.72 as at 31 December 2009. This was $0.77 at 30
June 2009 and we will next report NTA for 30 June 2010 at our full year results in August
this year.

Kind regards,
Ben

 

[Tysonboss1]

Hi so-cynical,

I couldn't answer your question on the old MCW thread because it is shut.

But the answer is yes and no.

Yes I still hold some CQR, But No I sold 100% of my MCW prior to the re-badging.

I sold out at about 60c from memory, then rebought a small parcel at 55c. It currently only makes up less than 2% of my portfolio.

 

[mattyhammer]

What a crock of rubbish!! I got squeezed out today by some dodgy broker selling out at $2.72 one minute before close this arvo. I had my stop loss set at market at $2.75. The price dropped from $2.96 to $2.72 in one trade, then some lucky buggers jumped on my unfortunate sell being activated at $2.68, then it closed at $2.94 about 40 seconds later. Something dodgy going on I reckon. Not happy Jan!!!

 

[Tysonboss1]

What a crock of rubbish!! I got squeezed out today by some dodgy broker selling out at $2.72 one minute before close this arvo. I had my stop loss set at market at $2.75. The price dropped from $2.96 to $2.72 in one trade, then some lucky buggers jumped on my unfortunate sell being activated at $2.68, then it closed at $2.94 about 40 seconds later. Something dodgy going on I reckon. Not happy Jan!!!

Don't have a stop loss if you don't want to sell.

I don't personally use stop losses, I have never seen the need for them.

 

[nulla nulla]

In recent months CQR appears to have found a sideways channel in the range $2.80 to $3.15 (on the pre-consolidation scale, this would be $0.56 - $0.63). Not a huge spread but enough for some quick trades on tight margins.