Australia's Centuria Office eyes best day in over 2 years after distribution beat

Centuria Office REIT

02/02/2023 01:24

** Centuria Office REIT  COF.AX  rises as much as 7.4% to
A$1.75 - set for best day since November 2020 if gains hold
    ** COF hits highest level since August 2022
    ** COF's funds from operations (FFO) per weighted average
unit distribution of 8.1 AU cents slightly ahead of estimates -
Jefferies
    ** Brokerage says property investor maintained its full-year
guidance for FFO per unit and distribution, both in line with
consensus
    ** Jefferies flags higher debt costs for co in the second
half, which are expected to offset strong leasing momentum
    ** Analysts at brokerage UBS highlight that leasing outcomes
acted as positive for co in this half, say co remains exposed to
higher interest rates
    ** UBS says first-half FFO a slight beat on its estimates
    ** Four of nine analysts rate the stock "buy" or higher,
four "hold" and one "sell"; their median PT is A$1.90 –
Refinitiv data
    ** Stock fell 34.6% in 2022
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))