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Centuria Industrial REIT - Stock Quote CIP

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Morningstar's Centuria Industrial REIT Stock Analysis

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Capital Allocation


Initiating Coverage on Centuria Industrial REIT; Shares Overvalued

Adrian Atkins Senior Equity Analyst

Analyst Note

| Adrian Atkins |

We initiate coverage of Centuria Industrial REIT with an AUD 3.40 fair value estimate and no-moat, medium uncertainty, and Standard capital allocation ratings. Industrial property markets are currently hot and relatively strong rental growth is likely as leases expire, particularly in Sydney. But, with a modest distribution yield of 4.4% and expectations for low-single-digit percentage growth in distributions, we think the buoyant market fundamentals are priced in.

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Centuria Industrial REIT's Company Profile

Business Description

Centuria Industrial REIT owns a AUD 4 billion portfolio of industrial properties, including distribution centres, manufacturing facilities, and data centres. 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).

Level 41, Chifley Tower, 2 Chifley Square
Sydney, NSW, 2000, Australia
T +61 289238923
Sector Real Estate
Industry REIT - Industrial
Most Recent Earnings
Fiscal Year End Jun 30, 2022
Stock Type