Australia's Charter Hall Group rises on $844.32 million property mandate

Charter Hall

09/04/2026 02:19

** Shares of Charter Hall Group CHC.AX  rise 1.8% to A$19.81

** Property investment and funds management co says it has been appointed to manage an A$1.2 billion ($844.32 million) diversified direct property mandate with an existing institutional client

** Citi says that although details on the mandate are scarce, it sees the announcement as positive and supportive of earnings growth

**  Brokerage retains its "Buy" call, not expecting a significant re-pricing of co's assets, and says the recent sell-down already reflects any potential near-term downside

** Attributes stock's underperformance compared to the REIT index to concerns from higher bond yields and what it means for the outlook for valuations and fund flows

** YTD, shares down 19.2% vs the real estate sub-index's .AXRE 13.9% loss

($1 = 1.4213 Australian dollars)

(Reporting by Shruti Agarwal in Bengaluru)

((Shruti.Agarwal@thomsonreuters.com))