Australia's Centuria Industrial Reit climbs to near 1-year high on upbeat results

Centuria Industrial Reit

07/02/2024 24:46

** Shares of Centuria Industrial Reit  CIP.AX  rise as much
as 1.5% to A$3.360, their highest since Feb 24, 2023 
    ** The real estate investment trust posts HY net profit
attributable of A$12.2 mln ($7.96 mln) versus a loss of A$45.6
mln for the corresponding period 
    ** Co says HY total revenue and other income came in at
A$115.1 mln vs A$113.2 mln a year ago
    ** Co upgrades FY24 funds from operations forecast to 17.2
AU cents per unit from 17.0 AU cents
    ** Jefferies retains "buy" rating for CIP, sets price target
to A$3.61
    ** Stock up about 151% YTD, it rose ~4% last year

   ($1 = 1.5323 Australian dollars)

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))