Australia's Centuria Industrial falls after FY loss

Centuria Industrial Reit

14/08/2023 04:38

** Shares of Australia's Centuria Industrial REIT  CIP.AX  
fall as much as 1.27% to A$3.102, lowest since July 19
    ** FY net loss attributable A$76.6 mln ($49.48 million),
versus a profit of A$367.5 mln a year earlier
    ** "Looking ahead, Australia still holds one of the lowest
industrial vacancy rates globally" - CIP 
    ** CIP provides FY24 FFO guidance of 17.0 AU cpu and
distribution guidance of 16.0 AU cpu 
    ** Re-leasing spreads lift materially reflecting +37% in
second half of this year, although near-term expiry is minimal -
Brokerage UBS in a note
    ** Tenant demand remains resilient and, with a constrained
supply of new industrial space, rental growth is expected to be
prolonged - co 
    ** Stock had risen 0.64% this year, as of last close
($1 = 1.5480 Australian dollars)

 (Reporting by Aishwarya Nair in Bengaluru)
 ((Aishwarya.Nair@thomsonreuters.com; +91-9167838937 Twitter: https://twitter.com/Aishwaryartrs
 ;))