CENTURIA INDUSTRIAL REIT (CIP)
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CIP

CIP - CENTURIA INDUSTRIAL REIT

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 9.94
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

$2.95

24 Mar
2025

-0.030

OPEN

$3.00

-1.01%

HIGH

$3.03

996,549

LOW

$2.95

TARGET
$3.384 14.7% upside
OTHER COMPANIES IN THE SAME SECTOR
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FNARENA'S MARKET CONSENSUS FORECASTS
CIP: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 7.6 17.7 xxx
DPS (cps) xxx 16.0 16.3 xxx
EPS Growth xxx N/A 100.0% xxx
DPS Growth xxx 0.0% 1.9% xxx
PE Ratio xxx N/A 16.7 xxx
Dividend Yield xxx N/A 5.5% xxx
Div Pay Ratio(%) xxx 211.1% 92.4% xxx

Dividend yield today if purchased 3 years ago: 4.08%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.37

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: 30/12 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx7.6
DPS All xxxxxxxxxxxxxxx16.0
Sales/Revenue xxxxxxxxxxxxxxx224.8 M
Book Value Per Share xxxxxxxxxxxxxxx387.1
Net Operating Cash Flow xxxxxxxxxxxxxxx95.5 M
Net Profit Margin xxxxxxxxxxxxxxx21.42 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx1.94 %
Return on Invested Capital xxxxxxxxxxxxxxx1.27 %
Return on Assets xxxxxxxxxxxxxxx1.24 %
Return on Equity xxxxxxxxxxxxxxx1.94 %
Return on Total Capital xxxxxxxxxxxxxxx3.54 %
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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx1,335 M
Total Debt xxxxxxxxxxxxxxx1,335 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx17 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 201920202021202220232024
Capex xxxxxxxxxxxxxxx0.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.00 %
Cost of Goods Sold xxxxxxxxxxxxxxx74 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx17 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx3,715 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

0.7

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

26/02/2025

3

Equal-weight

$3.31

12.20%

Centuria Industrial REIT posted first half earnings (FFO) of 8.9 cents, in line with Morgan Stanley's forecast. Guidance has been reiterated for FY25 FFO of 17.5 cents.

Key to the results was the fall in occupancy to 96.6% from 97.2% in September 2024, and the broker suspects a slowdown in the December quarter with deals done only attracting spreads of around 30%.

Still, Morgan Stanley suggests it would be premature to call out any trends. Equal-weight rating and $3.31 target retained. Industry view: In-Line. 

FORECAST
Morgan Stanley forecasts a full year FY25 EPS of 18.00 cents.
Morgan Stanley forecasts a full year FY26 EPS of 18.00 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
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

Jarden

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Moelis

03/03/2025

1

Buy

$3.72

26.10%

Centuria Industrial REIT delivered a first half result that was in line with Moelis. The company has re-affirmed FY25 guidance for 17.5 cents in FFO and 16.3 cents as a distribution.

The broker notes more than 50% leasing spreads reflect continued success in releasing by the company and, with a portfolio that remains around -20-25% under rented, anticipates more than 5% comparable net operating income growth to FY27.

Market conditions remain favourable although softer leasing in Melbourne's north and western markets mean incentives are starting to increase modestly.

Buy rated with $3.72 target price.

FORECAST
Moelis forecasts a full year FY25 dividend of 16.30 cents and EPS of 17.50 cents.
Moelis forecasts a full year FY26 dividend of 16.50 cents and EPS of 18.00 cents.
Access Extra Coverage Research History >

CIP STOCK CHART

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