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This REIT now offers investors a 6% yield

Credit: GotCredit

Charter Hall Long WALE REIT (ASX: CLW) released its FY 2018 results today and here are the highlights:

  • FY 18 Earnings Per Share (EPS) and Distributions Per Share (DPS) of 26.4 cents (a 3.9% annual growth)
  • Net Tangible Assets increased to $4.05 per unit
  • Weighted Average Lease Expiry (WALE) of 10.8 years
  • 100% occupancy

The REIT’s distributions are at an effective 6.2% yield to its current share price of $4.25 which is higher than some of its peers.

Its longer WALE also provides investors with more certainty but perhaps less upside compared to other REITs such as Mirvac Group (ASX: MGR), GPT Group (ASX: GPT) and DEXUS Property Group (ASX: DXS).

Despite its high yield, Charter Hall Long WALE REIT is not our number 1 dividend pick. Read this FREE REPORT to find out more on our #1 dividend share recommendation now.

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Motley Fool contributor Kevin Gandiya has no position in any of the stocks mentioned.

You can find Kevin on Twitter @KevinGandiya.

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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