ARENA REIT (ARF)
Share Price Analysis and Chart

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ARF - ARENA REIT

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: N/A
Index: ASX200 | ASX300 | ALL-ORDS

Arena REIT is an Australian real estate investment trust with a portfolio of properties focussed on childcare, healthcare, education and government tenanted facilities. It has been listed since 2013.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.48

22 Sep
2023

-0.010

OPEN

$3.42

-0.29%

HIGH

$3.48

832,177

LOW

$3.41

TARGET
$4.20 20.7% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ASK . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DXC . DXI . DXS . ECF . GDF . GDI . HCW . HDN . NPR . NSR . PLG . REP . RFF . RGN . SCG . TGP . URW . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
ARF: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx 20.8 17.7 xxx
DPS (cps) xxx 16.8 17.4 xxx
EPS Growth xxx - 76.3% - 15.0% xxx
DPS Growth xxx 5.0% 3.3% xxx
PE Ratio xxx N/A 19.7 xxx
Dividend Yield xxx N/A 5.0% xxx
Div Pay Ratio(%) xxx 80.7% 98.0% xxx

Dividend yield today if purchased 3 years ago: 6.06%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.83

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 29/06 - ex-div 4.2c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2023 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx20.8
DPS All xxxxxxxxxxxxxxx16.8
Sales/Revenue xxxxxxxxxxxxxxx93.2 M
Book Value Per Share xxxxxxxxxxxxxxx342.0
Net Operating Cash Flow xxxxxxxxxxxxxxx59.9 M
Net Profit Margin xxxxxxxxxxxxxxx77.91 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx6.13 %
Return on Invested Capital xxxxxxxxxxxxxxx4.79 %
Return on Assets xxxxxxxxxxxxxxx4.71 %
Return on Equity xxxxxxxxxxxxxxx6.13 %
Return on Total Capital xxxxxxxxxxxxxxx5.65 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-56.1 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx341 M
Total Debt xxxxxxxxxxxxxxx341 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx16 M
Price To Book Value xxxxxxxxxxxxxxx1.10

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx71.3 M
Capex % of Sales xxxxxxxxxxxxxxx76.50 %
Cost of Goods Sold xxxxxxxxxxxxxxx1 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx7 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1,535 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.5

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

11/08/2023

3

Equal-weight

$4.36

25.29%

Morgan Stanley assesses a sound FY23 result for Arena REIT, and a slight miss on FY24 guidance was probably due to consensus underestimating future interest expenses.

The REIT reported FY23 profit of $60m, while FY24 dividend guidance is for 17.4cpu compared to the brokers 17.3cpu forecast.

Thanks to CPI linkages, observes the analyst, there was a FY23 rent increase of 6.8%. It's noted around 85% of rent reviews are indexed to CPI in FY24.

The Equal-Weight rating and target price of $4.36 are retained. Industry view: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY24 dividend of 17.30 cents and EPS of 17.60 cents.
Morgan Stanley forecasts a full year FY25 dividend of 17.80 cents and EPS of 17.90 cents.
Access Stockbroker Research History >

ARF STOCK CHART

FNArena News on ARF

1
Rudi’s Views: August 2023 – Winners & Losers

Sep 13 2023 - Rudi's View
2
Rudi’s View: Outlook Negative, With Plenty Of Silver Linings

Sep 06 2023 - Rudi's View
3
Australian Broker Call *Extra* Edition – Aug 16, 2023

Aug 16 2023 - Daily Market Reports
4
FNArena Corporate Results Monitor – 11-08-2023

Aug 11 2023 - Australia
5
Australian Broker Call *Extra* Edition – Aug 11, 2023

Aug 11 2023 - Daily Market Reports

Latest REITs News

1
Australian Listed Real Estate Tables – 18-09-2023

Sep 18 2023 - Weekly Reports
2
Australian Listed Real Estate Tables – 11-09-2023

Sep 11 2023 - Weekly Reports
3
Australian Listed Real Estate Tables – 04-09-2023

Sep 04 2023 - Weekly Reports
4
Australian Listed Real Estate Tables – 28-08-2023

Aug 28 2023 - Weekly Reports
5
Australian Listed Real Estate Tables – 22-08-2023

Aug 22 2023 - Weekly Reports
6
Australian Listed Real Estate Tables – 14-08-2023

Aug 14 2023 - Weekly Reports
7
Australian Listed Real Estate Tables – 07-08-2023

Aug 07 2023 - Weekly Reports
8
Australian Listed Real Estate Tables – 31-07-2023

Jul 31 2023 - Weekly Reports
9
Australian Listed Real Estate Tables – 24-07-2023

Jul 24 2023 - Weekly Reports
10
Australian Listed Real Estate Tables – 17-07-2023

Jul 17 2023 - Weekly Reports