Jefferies sees new partnership of Australia's Centuria 'positively'

Centuria Industrial Reit

08/12/2022 23:51

** Analysts at Jefferies view real estate co Centuria
Industrial Reit's  CIP.AX  partnership with Morgan Stanley Real
Estate Investing (MSREI) "positively"
    ** CIP has announced the divestment of its 49.6% interest
across 8 assets with MSREI for A$181 mln ($122.50 mln)
    ** Brokerage increases PT for CIP to A$3.32 from A$3.19,
however lowers rating from "buy" to "hold" 
    ** Jefferies says partnership allows CIP to reduce net debt
to A$1.20 bln ($812.40 mln) from A$1.35 bln, improving gearing &
credit metrics for co 
    ** 4 of eleven analysts rate the stock "buy" or higher, 6
"hold" and 1 "sell"; their median PT is A$3.33 - Refinitiv Data
    ** Shares of co are down 23.6% YTD as of last close 
($1 = 1.4775 Australian dollars)
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))