Australia's Charter Hall rises as Citi backs $853 mln east coast property partnership
BUZZ-Australia's Charter Hall rises as Citi backs $853 mln east coast property partnership Updates
** Shares of Charter Hall Group's CHC.AX rise as much as 1.1% to A$18.495
** For the week, CHC gains 1.5% so far, set to snap five-week losing streak
** Citi says CHC's new partnership with Tokyo Tatemono 8804.T and UBS Asset Management highlights strong demand for Australian real estate
** Property investment firm on Wednesday disclosed details of the A$1.2 billion ($853.08 million) partnership to develop a portfolio of assets across Australia's east coast
** Brokerage says agreement supports further FUM growth and fee income opportunities for co
** Adds Citi sees CHC to remain a beneficiary of institutional capital inflow into Australia despite tight conditions
** Brokerage rates stock "buy", price target at A$22
** Six of 10 analysts rate the stock "buy" or higher, three "hold" and one "sell"; their median PT is A$22.80 - LSEG data
** CHC down 24.7% YTD, including session's moves
($1 = 1.4067 Australian dollars)
(Reporting by Paridhi Minda & Subhalakshmi Dey in Bengaluru)
((Paridhi.minda@thomsonreuters.com Subhalakshmi.Dey@thomsonreuters.com;))
Recent news on Charter Hall
See all newsCiti sees upside for Australian real estate sector ahead of property conference
Australia's Charter Hall rises as Citi backs $853 mln east coast property partnership
Citi upbeat on Australia's Charter Hall after $853 million property partnership
Australia's Charter Hall slips, Citi says FY27 outlook appears conservative
Brief: Charter Hall Group Says FY27 Distribution Per Security Guidance Is For 6% Growth Over Fy26