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Highlights:
- Charter Hall Retail REIT drops 3% as it goes ex-dividend, with a 12.4-cent interim dividend on the way.
- DroneShield sees a 3.5% decline, continuing its downward trend after a soft FY 2024 performance.
- FBR falls 5%, potentially due to profit-taking after impressive share price growth.
The S&P/ASX 200 Index (ASX:XJO) is experiencing a slight decline as it heads into the Christmas break. The benchmark index has dipped marginally to 8,198.9 points, with several ASX-listed companies seeing notable drops in their share prices today. Here’s a closer look at three companies that are falling more than most:
1. Charter Hall Retail REIT (ASX:CQR) – Down 3% to AU$3.15
Charter Hall Retail REIT’s share price is down 3% to AU$3.15, following the company’s shares going ex-dividend this morning. Earlier in December, the property company announced it would pay a 12.4-cent per share interim dividend, representing an attractive 3.8% dividend yield based on yesterday's closing price. Eligible shareholders will receive this dividend on 28 February, but the share price decline is typical of ex-dividend trading, as investors no longer have the right to claim the upcoming payout.
2. DroneShield Ltd (ASX:DRO) – Down 3.5% to 63.2 cents
DroneShield's share price has fallen 3.5% to 63.2 cents, continuing a downward trend that has seen its shares drop 75% since mid-July. While the company had a brief rebound on Monday, its performance in the second half of FY 2024 has been softer than expected, affecting investor sentiment. The high valuation multiples of DroneShield’s shares have made them vulnerable to such declines. However, some analysts are still optimistic about the company’s future prospects. Bell Potter, for instance, maintains a buy rating on the stock with a price target of AU$1.20, suggesting that the current price might present a buying opportunity.
3. FBR Ltd (ASX:FBR) – Down 5% to 3.7 cents
FBR’s share price has dropped by 5% to 3.7 cents, possibly due to profit-taking after the company’s strong performance in recent months. Over the past six months, the robotics company’s shares have surged by approximately 85%, driven by optimism surrounding its successful demonstration of a brick-laying robot. The recent price drop could indicate some investors cashing out after the strong gains. Despite this, there remains significant optimism about FBR’s potential, particularly in the US market, where the company aims to expand its operations.
