CENTURIA INDUSTRIAL REIT (CIP)
Share Price Analysis and Chart

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CIP - CENTURIA INDUSTRIAL REIT

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 8.74
Index: ASX200 | ASX300 | ALL-ORDS

Centuria Industrial is an Australian Real Estate Investment Trust with a portfolio of large industrial properties across Australia. Established in 2002, it became a listed entity in 2012.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.17

22 Jul
2024

-0.020

OPEN

$3.15

-0.63%

HIGH

$3.18

1,548,922

LOW

$3.14

TARGET
$3.458 9.1% upside
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . ASK . BWP . CDP . CDP . CHC . CLW . COF . CQE . CQR . DXC . DXI . DXS . ECF . GDF . GDI . HCW . HDN . NSR . PLG . REP . RFF . RGN . SCG . TGP . URW . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
CIP: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx - 12.5 17.2 xxx
DPS (cps) xxx 16.0 16.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx - 7.5% 0.0% xxx
PE Ratio xxx N/A 18.4 xxx
Dividend Yield xxx N/A 5.0% xxx
Div Pay Ratio(%) xxx N/A 93.0% xxx

Dividend yield today if purchased 3 years ago: 4.22%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.05

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 27/06 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx-12.5
DPS All xxxxxxxxxxxxxxx16.0
Sales/Revenue xxxxxxxxxxxxxxx225.4 M
Book Value Per Share xxxxxxxxxxxxxxx395.5
Net Operating Cash Flow xxxxxxxxxxxxxxx97.6 M
Net Profit Margin xxxxxxxxxxxxxxx-33.98 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx-2.95 %
Return on Invested Capital xxxxxxxxxxxxxxx-1.95 %
Return on Assets xxxxxxxxxxxxxxx-1.90 %
Return on Equity xxxxxxxxxxxxxxx-2.95 %
Return on Total Capital xxxxxxxxxxxxxxx3.75 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-6.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx1,290 M
Total Debt xxxxxxxxxxxxxxx1,290 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx21 M
Price To Book Value xxxxxxxxxxxxxxx0.78

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx0.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.00 %
Cost of Goods Sold xxxxxxxxxxxxxxx73 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx5 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx3,740 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.2

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

16/02/2024

3

Hold

$3.57

12.62%

Ongoing strength in the industrial leasing environment was evident in Centuria Industrial REIT's 1H results, according to Morgans.

Underpinned by strong tenant demand and low vacancy rates in key infill markets, explains the analyst, releasing spreads widened by 51% compared to 30% across FY23.

Impacts from divestments were offset by 6% growth in like-for-like income, observes the broker, resulting in flat funds from operations (FFO) compared to the previous corresponding period.

Management upgraded FY24 FFO to 17.2cpu from 17.0cpu, based upon 6% growth in net operating income. DPS guidance was retained at 16cpu.

The target rises to $3.57 from $3.36. Hold.

FORECAST
Morgans forecasts a full year FY24 dividend of 16.00 cents and EPS of 17.00 cents.
Morgans forecasts a full year FY25 dividend of 17.00 cents and EPS of 18.00 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

(xx/xx/xxxx)

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Moelis

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

21/06/2024

2

Overweight

$3.65

15.14%

Within Jarden's coverage of the Australian REIT sector, weighted-average funds from operations (FFO) growth forecasts are starting to improve for FY25 and FY26 to 3.6% and 7.9%, respectively, from -2.2% in FY24.

The broker believes downside risk to asset values is well reflected in current valuations, and REITs are increasingly moving to offence from defence.

Excluding Goodman Group (which remains the best quality stock in the sector), the analysts see around 18% upside to 12-month target prices.

The broker's target for Centuria Industrial REIT is increased to $3.65 from $3.60 and the Overweight rating is retained. It's felt year-to-date share price weakness is overdone.
Access Stockbroker Research History >

CIP STOCK CHART

FNArena News on CIP

1
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Jul 16 2024 - Feature Stories
2
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