Arena REIT's (ASX:ARF) fiscal first-half operating earnings of AU$0.097 per security beat expectations, and was up from AU$0.092 a year earlier, according to a Wednesday report by Jarden Research.

The company also reaffirmed its fiscal 2026 dividend per security guidance of AU$0.1925, Jarden noted.

The "solid" result was due to rent reviews and inflation-linked rent increases, Jarden said.

Jarden believes that the company's development strategy continues to be accretive.

The investment firm reaffirmed a buy rating and price target of AU$4.45 on Arena REIT.

Shares of the real estate investment firm rose nearly 1% in recent Wednesday trade.