0037 GMT - Charter Hall Long WALE REIT's relatively high gearing compared with peers doesn't shift Citi's bullish view of its stock. Citi instead focuses on its 7% discount to net tangible assets. That's especially attractive, "with asset values having bottomed and debt costs now becoming a tailwind given the ongoing reduction in market interest costs," analyst Suraj Nebhani says. The REIT completed some A$229 million of acquisitions in July. These were only partly offset by A$55 million of asset sales, meaning that gearing rose to more than 40%. Citi retains a buy call and A$4.40/share price target on Charter Hall Long WALE REIT, which is up 2.7% at A$4.385. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
August 06, 2025 20:37 ET (00:37 GMT)
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