For income-focused investors, high quality dividend paying stocks could fit their need. One of the best long term dividend stocks which could also have the potential for capital growth is
Cromwell Property Group (ASX: CMW)
Cromwell Property Group (ASX: CMW) announced its half-year results for the period ending December 31, 2024. A key highlight was the completion of the sale of the European Platform, strengthening Cromwell’s position as an Australian-based investment manager with improved liquidity and a lower gearing ratio of 29.1%, down from 38.9% in June 2024. The Group reported an operating profit of $55.1 million (2.10 cents per security), though adjusted funds from operations (AFFO) stood at $36.9 million (1.41 cps). Despite a strong income stream from high-occupancy assets, Cromwell reported a statutory loss of $28.6 million (1.09 cps), largely due to a $99.0 million devaluation of its investment portfolio.
The Investment Portfolio consists of eight assets valued at $2.1 billion, with a high occupancy rate of 95.8% and a weighted average lease expiry of 5.1 years. Rental income remains stable, with key tenants including Qantas and government entities, which contribute over 60% of total portfolio revenue. Leasing activity was strong, with 16,000 sqm of new or renegotiated leases, representing 6.5% of net lettable area.
The Funds Management business, managing $2.2 billion across Australia and New Zealand, remained stable, with a slight 2.6% profit increase from the prior period. Cromwell Direct Property Fund valuations declined by 5% to $470.0 million, while investors in the Cromwell Riverpark Trust voted to extend the investment term by two years.
Cromwell plans to focus on active asset management, capital deployment, and exploring platform acquisitions to enhance its scale and diversification. CEO Jonathan Callaghan emphasized the importance of stable growth and prudent capital management as the Group enters its next phase.
(Source: Company's Report)
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