Highlights

  • FY26 operating Earnings reached AUD 181.9 million, equivalent to 25.5 cents per security.
  • Portfolio occupancy stood at 99.9%, with a weighted average Lease expiry of 9.2 years.
  • The REIT reported AUD 572 million of investments and AUD 324 million of divestments during FY26.
  • FY27 guidance is 25.5 cents per security for both operating earnings and distributions.

Charter Hall Long WALE REIT invests in diversified commercial property leased principally to major corporate and government tenants, with an emphasis on long-term rental arrangements. Charter Hall Long WALE REIT (ASX:CLW) shares closed at AUD 3.55 on 10 November 2026. Its FY26 results, covering the year ended 30 June 2026, highlighted earnings growth, active portfolio transactions and a refinancing programme intended to support the trust’s funding position.

FY26 Earnings and Distributions

Charter Hall Long WALE REIT (ASX:CLW) recorded FY26 operating earnings of AUD 181.9 million, or 25.5 cents per security, with per-security earnings rising 2.0% from the previous corresponding period. Distributions also totalled 25.5 cents per security. Statutory earnings were AUD 275.9 million, with statutory profit differing from operating earnings.

Average annual net property income growth was 3.1% during FY26. The REIT reported net tangible Assets of AUD 4.71 per security, an increase of 2.6% from 30 June 2025. Property revaluations contributed to this change: independent valuations covering the full portfolio generated a net uplift of AUD 188 million, or 3.2%.

Property Portfolio and Leasing Profile

At 30 June 2026, the portfolio comprised 505 properties valued at approximately AUD 6.1 billion on the company’s stated pro forma basis. Charter Hall Long WALE REIT (ASX:CLW) reported 99.9% stabilised occupancy and a weighted average lease expiry of 9.2 years.

Portfolio management remained active in FY26. The REIT divested AUD 324 million of assets at an average Yield of 4.7% and invested AUD 572 million at an average yield of 7.4%. The resulting AUD 248 million of net transaction activity was associated with acquisitions carrying an average lease term of 13.5 years. The REIT also reached practical completion of a cold-storage expansion at a Perth distribution centre, with the lease term across the Facility resetting to 12 years.

Charter Hall Long WALE REIT (ASX:CLW) stated that 51% of its leases were triple-net arrangements and that 54% of rent reviews were linked to the consumer price index.

Debt Refinancing and FY27 Guidance

During FY26, the trust completed a comprehensive AUD 2.0 billion balance-sheet Debt refinancing. The new secured funding platform reduced average Credit margins by 20 basis points to 1.2% and extended weighted average debt Maturity to 4.1 years. Balance-sheet gearing was reported at 27.5% on the company’s specified adjusted basis, within its 25%–35% target range.

Charter Hall Long WALE REIT (ASX:CLW) forecast an average 85% of debt hedged during FY27, limiting immediate sensitivity to movements in floating interest rates. Nevertheless, refinancing requirements, asset valuations, borrowing costs and tenant credit quality remain material considerations.

For FY27, management provided guidance of 25.5 cents per security for operating earnings and 25.5 cents per security for distributions, subject to available information and unforeseen events. Performance against these figures will depend on rental collections, property transactions, funding costs and Portfolio Management during the financial year.

Key Insights

The FY26 results show growth in per-security operating earnings alongside high reported occupancy and a long lease profile. Portfolio recycling and debt refinancing were central developments, while FY27 guidance holds operating earnings and distributions at 25.5 cents per security.