Interest rate moves to affect each Australian REIT differently - MS

Centuria Office REIT

18/12/2023 03:37

** Analysts at Morgan Stanley expect interest rate movements
to affect different property developers differently reflection
variations in hedging profiles and gearing
    ** Says Mirvac Group  MGR.AX  could have more to gain if
interest rates in the country decline as it has the highest cost
of debt
    ** Adds firms like Charter Hall Long WALE REIT  CLW.AX  and
Centuria Office REIT  COF.AX  have reported gearing over 30% and
any easing in cost of debt could benefit these stocks
    ** MGR shares currently down 2.6%
    ** Australia's real estate index  .AXRE  currently down 1.4%
    

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))