Centuria Office REIT (AU:COF)
ASX:COF
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Centuria Office REIT
(Sydney:COF)
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Rating:53Neutral
Price Target:
AU$0.94
▼(-0.63% Downside)
Action:Reiterated
Date:10/31/25
Centuria Office REIT's overall stock score is driven by mixed financial performance and valuation concerns. While the company benefits from strong gross profit margins and a high dividend yield, challenges with profitability and rising leverage are significant risks. Technical indicators suggest neutral momentum, with the stock trading near its moving averages.
Positive Factors
Strong gross profit margin
Sustained strong gross margins indicate the portfolio generates healthy property-level spreads after direct costs. For an office REIT this supports recurring distributable income and buffers operating profit against rental volatility, preserving value across multiple leasing cycles.
Negative Factors
Rising leverage
Increasing debt-to-equity raises financial risk for a property trust, making distributions and refinancing more sensitive to interest rate moves or tenant cashflow stress. Elevated leverage limits flexibility for opportunistic investments and increases vulnerability in downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong gross profit margin
Sustained strong gross margins indicate the portfolio generates healthy property-level spreads after direct costs. For an office REIT this supports recurring distributable income and buffers operating profit against rental volatility, preserving value across multiple leasing cycles.
Read all positive factors
Centuria Office REIT (COF) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$558.51M
Dividend Yield8.63%
Average Volume (3M)859.08K
Price to Earnings (P/E)8.8
Beta (1Y)0.46
Revenue Growth3.61%
EPS GrowthN/A
CountryAU
EmployeesN/A
SectorReal Estate
Sector Strength53
IndustryREIT - Office
Share Statistics
EPS (TTM)0.10
Shares Outstanding597,336,900
10 Day Avg. Volume949,986
30 Day Avg. Volume859,083
Financial Highlights & Ratios
PEG Ratio0.39
Price to Book (P/B)0.68
Price to Sales (P/S)4.40
P/FCF Ratio12.67
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.96Price Target Upside1.05% Upside
Rating ConsensusModerate Sell
Number of Analyst Covering5
EPS Forecast (FY)0.11
Revenue Forecast (FY)AU$143.99M
Centuria Office REIT Business Overview & Revenue Model
Company Description
Centuria Office REIT (COF) holds the distinction of being Australia's largest ASX-listed pure-play office REIT and is a constituent of the S&P/ASX300 Index. Its portfolio comprises high-quality properties strategically located in prime office mark...
How the Company Makes Money
COF makes money primarily through rental income generated by leasing office space across its portfolio. Tenants typically pay contracted base rent under lease agreements, which forms the core recurring revenue stream; where applicable, lease struc...
Centuria Office REIT Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
55
Neutral
Cash Flow
60
Neutral
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 157.84M | 153.53M | 161.58M | 167.28M | 167.02M | 161.81M |
| Gross Profit | 145.31M | 142.69M | 99.08M | 106.56M | 109.12M | 109.10M |
| EBITDA | 96.02M | 28.89M | 88.35M | 107.22M | 134.30M | 111.43M |
| Net Income | 62.96M | -19.78M | -168.75M | -91.93M | 115.02M | 76.94M |
Balance Sheet | ||||||
| Total Assets | 2.00B | 1.95B | 1.98B | 2.31B | 2.41B | 2.07B |
| Cash, Cash Equivalents and Short-Term Investments | 11.20M | 8.50M | 17.50M | 17.29M | 26.56M | 15.64M |
| Total Debt | 935.76M | 901.52M | 857.03M | 926.12M | 861.10M | 733.46M |
| Total Liabilities | 976.69M | 955.05M | 901.93M | 994.67M | 918.27M | 793.87M |
| Stockholders Equity | 1.03B | 995.81M | 1.08B | 1.32B | 1.49B | 1.27B |
Cash Flow | ||||||
| Free Cash Flow | 43.92M | 53.27M | 63.79M | 71.65M | 95.31M | 103.97M |
| Operating Cash Flow | 43.92M | 53.27M | 63.79M | 71.65M | 95.31M | 103.97M |
| Investing Cash Flow | -49.73M | -40.71M | 81.21M | -54.53M | -317.89M | 14.14M |
| Financing Cash Flow | -2.33M | -21.55M | -144.91M | -26.39M | 233.50M | -131.27M |
Centuria Office REIT Technical Analysis
Neutral
0.95
Price Trends
0.93
Positive
0.96
Negative
1.04
Negative
Market Momentum
>-0.01
Negative
56.16
Neutral
95.68
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:COF, the sentiment is Neutral. The current price of 0.95 is above the 20-day moving average (MA) of 0.91, above the 50-day MA of 0.93, and below the 200-day MA of 1.04, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 56.16 is Neutral, neither overbought nor oversold. The STOCH value of 95.68 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:COF.
Centuria Office REIT Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | AU$786.76M | 10.66 | 6.84% | 6.09% | -6.09% | 41.37% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
57 Neutral | AU$889.19M | 42.40 | 0.74% | 7.11% | 4.64% | ― | |
54 Neutral | AU$1.18B | 10.82 | 7.18% | 6.12% | 22.59% | ― | |
53 Neutral | AU$558.51M | 8.78 | 6.22% | 8.63% | 3.61% | ― | |
49 Neutral | AU$60.00M | -5.02 | -16.74% | 15.14% | -55.32% | 80.67% | |
46 Neutral | AU$337.39M | 20.06 | 4.91% | 7.69% | 7.90% | 67.59% |
* Real Estate Sector Average
AU:COF
Centuria Office REIT
0.93
-0.21
-18.50%
AU:GDI
GDI Property Group
0.62
-0.01
-1.59%
AU:AOF
Australian Unity Office Fund
0.37
-0.11
-23.96%
AU:CMW
Cromwell Property Group
0.44
0.12
37.50%
AU:DXI
Dexus Industria REIT
2.48
-0.26
-9.59%
AU:ABG
Abacus Property Group
1.01
-0.11
-9.54%
Centuria Office REIT Corporate Events
Centuria Office REIT Declares Quarterly Distribution for June 2026
Jun 4, 2026
Centuria Office REIT has announced a new quarterly distribution for holders of its fully paid ordinary units, relating to the period ending 30 June 2026. The trust declared a cash distribution of AUD 0.02525 per unit, with an ex-date of 29 June 20...
Centuria Office REIT lifts leasing, completes $1bn refinancing as FY26 outlook tweaked
May 11, 2026
Centuria Office REIT reported solid third-quarter operating metrics, securing 5,742sqm of lease terms across 11 transactions and lifting re-leasing spreads by 8.6%, with portfolio occupancy at 90% and a 4.0-year WALE. Leasing momentum was stronges...
Centuria Office REIT locks in $1bn refinancing and cuts debt margins
Mar 31, 2026
Centuria Office REIT has refinanced its entire $1 billion debt book, cutting margins by about 30 basis points and extending its weighted average debt term from 2.6 to 4.3 years. The new facilities push all debt maturities beyond FY29, maintain exi...
Vanguard ceases to be substantial holder in Centuria Office REIT
Mar 25, 2026
Centuria Office REIT has disclosed that Vanguard Group and its controlled entities have ceased to be a substantial holder in the trust as of 20 March 2026. Vanguard’s voting power has fallen to 3.39%, dropping below the substantial holding t...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.