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Centuria Industrial REIT CIP

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Stock XASX Rating as of
A$3.26 −0.07 (2.10%)
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As of Delayed Price Closed

Company Report

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Centuria Industrial REIT: Debt Costs to Keep a Lid on Medium-Term FFO Growth

Adrian Atkins

Centuria Industrial REIT is an externally managed Australian real estate investment trust. It owns a portfolio of 89 industrial properties, including distribution centers, manufacturing facilities, and data centers. About 83% of the portfolio by value is in urban infill areas of the major cities, with good prospects for rental growth and potentially redevelopment over the long term for higher and better use, including multistory industrial, mixed use, residential, healthcare, or bulky goods retail.

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Price vs Fair Value

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CIP is trading at a 683% premium.
Price
A$3.26
Fair Value
A$8.40
Uncertainty
High
1-Star Price
A$2.38
5-Star Price
A$2.20
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Revenue growth is underpinned by long leases with fixed or CPI-linked rent reviews.

Bears

Higher interest rates are likely to offset the trust's revenue growth.

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Trading Information

Previous Close Price
A$3.33
Day Range
A$3.26–3.30
52-Week Range
A$2.79–3.59
Bid/Ask
A$3.23 / A$3.28
Market Cap
A$2.07 Bil
Volume/Avg
4.0 Mil / 1.5 Mil

Key Statistics

Price/Earnings (Normalized)
24.68
Price/Sales
9.36
Dividend Yield (Trailing)
4.93%
Dividend Yield (Forward)
4.93%
Total Yield
4.93%

Company Profile

Centuria Industrial REIT owns a AUD 4 billion portfolio of industrial properties, including distribution centers, manufacturing facilities, and data centers. Melbourne and Sydney are its biggest markets at more than a third of portfolio value each, followed by Brisbane, Perth and Adelaide. The trust is externally managed by Centuria Capital Group (ASX: CNI).
Sector
Real Estate
Industry
REIT - Industrial
Stock Style Box
Small Core
Total Number of Employees
—
Website
https://www.centuria.com.au

Competitors

Valuation

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Metric
CIP
GMG
BWP
Price/Earnings (Normalized)
 24.6832.6317.89
Price/Book Value
 0.843.890.99
Price/Sales
 9.3635.4514.29
Price/Cash Flow
 21.7057.3319.28
Price/Earnings
CIP
GMG
BWP

Financial Strength

Metric
CIP
GMG
BWP
Quick Ratio
 0.591.420.30
Current Ratio
 1.711.770.48
Interest Coverage
 1.91−1.528.05
Quick Ratio
CIP
GMG
BWP

Profitability

Metric
CIP
GMG
BWP
Return on Assets (Normalized)
 1.57%8.67%3.75%
Return on Equity (Normalized)
 2.46%11.58%4.76%
Return on Invested Capital (Normalized)
 2.93%9.57%4.66%
Return on Assets
CIP
GMG
BWP

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