Centuria Industrial REIT (AU:CIP) has released an update.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Centuria Industrial REIT (CIP), Australia’s largest domestic pure-play industrial REIT, has reported a slight increase in Funds From Operations (FFO) to $109.3 million, with distributions and net tangible assets per unit aligning with FY24 guidance. Amid strong leasing activity, the company achieved a 43% average re-leasing spread across its portfolio and completed strategic divestments totaling $120 million, exceeding book values by 4%. Looking ahead, CIP anticipates further earnings growth, leveraging urban infill industrial market demand and long-term lease opportunities.
For further insights into AU:CIP stock, check out TipRanks’ Stock Analysis page.