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Centuria Industrial REIT CIP

Morningstar Rating
A$3.16 +0.05 (1.61%)
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Company Report

Market Conditions Strong for Centuria Industrial, but Interest Rates Continue to Weigh on Earnings

Centuria Industrial REIT is an externally managed Australian real estate investment trust. It owns a portfolio of 88 industrial properties, including distribution centers, manufacturing facilities, and data centers. About 82% 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.

Price vs Fair Value

CIP is trading at a 355% premium.
Price
A$3.16
Fair Value
A$1.40
Uncertainty
High
1-Star Price
A$5.17
5-Star Price
A$4.80
Economic Moat
Qdkn
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$3.11
Day Range
A$3.133.18
52-Week Range
A$2.793.59
Bid/Ask
A$3.14 / A$3.17
Market Cap
A$2.01 Bil
Volume/Avg
1.2 Mil / 1.3 Mil

Key Statistics

Price/Earnings (Normalized)
27.49
Price/Sales
8.82
Dividend Yield (Trailing)
5.06%
Dividend Yield (Forward)
5.06%
Total Yield
5.06%

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
Mid Value
Total Number of Employees

Competitors

Valuation

Metric
CIP
BWP
GOZ
Price/Earnings (Normalized)
27.4931.1836.37
Price/Book Value
0.810.950.60
Price/Sales
8.8214.125.49
Price/Cash Flow
21.3119.6811.35
Price/Earnings
CIP
BWP
GOZ

Financial Strength

Metric
CIP
BWP
GOZ
Quick Ratio
0.790.300.64
Current Ratio
1.350.850.70
Interest Coverage
0.56−0.11−2.04
Quick Ratio
CIP
BWP
GOZ

Profitability

Metric
CIP
BWP
GOZ
Return on Assets (Normalized)
−0.48%−0.71%−4.66%
Return on Equity (Normalized)
−0.74%−0.87%−7.96%
Return on Invested Capital (Normalized)
0.69%−0.08%−3.27%
Return on Assets
CIP
BWP
GOZ
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