Centuria Industrial REIT’s FY21 result was in-line with guidance and Morgans expectations. Management has guided to funds from operations (FFO) of no less than 18.1 cents and DPS of 17.3 cents.
The broker highlights industrial/logistics sectors remain resilient, given the growing shift to e-commerce which has accelerated over the past 18 months.
There has also been a focus on supply-chain resilience on the back of covid (onshoring) and a lack of investment-grade assets, which has led to a strengthening in demand. Morgans retains is Hold rating and lifts its target price to $3.87 from $3.71.
Sector: Real Estate.
Target price is $3.87.Current Price is $3.82. Difference: $0.05 – (brackets indicate current price is over target). If CIP meets the Morgans target it will return approximately 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
