CENTURIA OFFICE REIT (COF)
Share Price Analysis and Chart

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COF

COF - CENTURIA OFFICE REIT

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 8.43
Index: ALL-ORDS

Centuria Office is a real estate investment trust with assets consisting solely of commercial office properties. It has been listed since 2014.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.86

22 Oct
2026

0.010

OPEN

$0.85

1.18%

HIGH

$0.86

361,887

LOW

$0.85

TARGET
$0.89 3.5% upside
OTHER COMPANIES IN THE SAME SECTOR
ABG . ARF . BWP . CDP . CDP . CHC . CIP . CLW . CQE . CQR . DGT . DXC . DXI . DXS . FDC . GDF . GDI . HCW . HDN . PLG . REP . RFF . RGN . SCG . SKG . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
COF: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 9.2 11.2 xxx
DPS (cps) xxx 10.1 9.0 xxx
EPS Growth xxx N/A 20.9% xxx
DPS Growth xxx 0.0% - 10.9% xxx
PE Ratio xxx N/A 7.7 xxx
Dividend Yield xxx N/A 10.4% xxx
Div Pay Ratio(%) xxx 109.3% 80.5% xxx

Dividend yield today if purchased 3 years ago: 9.02%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 11.68

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: 29/09 - (franking ex-div 2.25c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx9.2
DPS All xxxxxxxxxxxxxxx10.1
Sales/Revenue xxxxxxxxxxxxxxx153.2 M
Book Value Per Share xxxxxxxxxxxxxxx165.8
Net Operating Cash Flow xxxxxxxxxxxxxxx44.2 M
Net Profit Margin xxxxxxxxxxxxxxx36.03 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx5.56 %
Return on Invested Capital xxxxxxxxxxxxxxx2.94 %
Return on Assets xxxxxxxxxxxxxxx2.87 %
Return on Equity xxxxxxxxxxxxxxx5.56 %
Return on Total Capital xxxxxxxxxxxxxxx5.46 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-16.2 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx863 M
Total Debt xxxxxxxxxxxxxxx863 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx9 M
Price To Book Value xxxxxxxxxxxxxxx0.54

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx0.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.00 %
Cost of Goods Sold xxxxxxxxxxxxxxx65 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx-14 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1,794 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

-0.6

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

4

xxxx

$xx.xx

xx.xx%

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UBS

05/08/2026

3

Neutral

$0.88

2.33%

Centuria Office REIT's FY26 result was -1% below UBS' forecast, while FY27 funds from operations guidance came in around -3% below expectations but 1% above consensus.

The weaker guidance is attributed to downtime from "key vacancies", the analyst states.

The dividend per unit has been rebased to around 80% of funds from operations, down from 90%, which is considered a positive, but only goes part of the way towards restoring investor interest in the REIT.

Following the sale of 154 Melbourne, FY27/FY28 gearing is expected to decline to around 40%. However, a further circa $225m in asset sales is required to reduce gearing to what UBS views as a more appropriate level of around 32%-33%.

The target price slips by -2% to 88c, with no change to the Neutral rating.

FORECAST
UBS forecasts a full year FY27 dividend of 9.00 cents and EPS of 11.00 cents.
UBS forecasts a full year FY28 dividend of 9.00 cents and EPS of 12.00 cents.

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

(xx/xx/xxxx)

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

4

xxxxxxxxxxx

$xx.xx

xx.xx%

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Moelis

10/08/2026

1

Buy

$1.44

67.44%

Moelis maintains a Buy rating for Centuria Office REIT, with its target price decreased to $1.44 from $1.57 following the release of FY26 earnings.

While the portfolio remains well-leased with a 9.0% vacancy rate and decent like-for-like rent growth, elevated dividend payouts continue driving gearing higher to 43.7%.

The analyst notes a tightening office market is necessary to unlock the deep value of the trust, given shares currently trade at a -67% implied discount to replacement cost.

More conservative assumptions surrounding interest rates, leasing outcomes, and tenant incentives prompted reductions to the broker's estimates for medium-term earnings per share.

With net tangible assets falling to $1.66 per unit, investors must continue waiting for an improved broader market environment to support meaningful rental income uplift, the report concludes.

FORECAST
Moelis forecasts a full year FY27 dividend of 9.00 cents and EPS of 11.30 cents.
Moelis forecasts a full year FY28 dividend of 9.40 cents and EPS of 11.60 cents.
Access Extra Coverage Research History >

COF STOCK CHART

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