Challenger Diversified Property Group (ASX:CDI) listed on the Australian Securities Exchange (ASX) on 23 October 2006 and offers investors exposure to a diversified portfolio of high quality, well located properties, with stable income returns and potential for capital growth.
CDI is constituted by two trusts, Challenger Diversified Property Trust 1 and Challenger Diversified Property Trust 2, the units in which have been stapled. Challenger Diversified Property Trust 1 holds CDI's 'passive' property assets. Challenger Diversified Property Trust 2 holds 'active' property transactions undertaken on behalf of CDI.
CDI is a traditional A-REIT deriving most of its revenue from rental income from its passive property investments. With sound property fundamentals in place, CDI generates high-yielding earnings. CDI adopts an active investment strategy.
FY13 earnings guidance of 5.25 cents per unit represents a yield of 7.7% on 30 June 2012 Net Tangible Assets (NTA) of 68 cents per unit. CDI's FY13 distribution guidance of 4.35 cents per unit represents a yield of 7.7% (based on 3 August 2012 closing price).
With total assets of A$880 million (as at 30 June 2012), CDI holds investments in 28 office, industrial and retail properties located primarily (94.5%) in Australia. In addition, CDI holds a cumulative 25 year leasehold interest in Sydney's Domain car park. Further details are provided in the Portfolio Summary.
For further details on CDI, please view the Initial Public Offering Product Disclosure Statement and Announcements.