27/02/2025 17:17

Centuria Capital (CNI) $1.65

CNI –4.35%: Reported inline 1H25 results this morning and highlighted improving conditions across commercial and office real estate while reconfirming guidance.

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22/08/2024 16:49

Centuria Capital Group (CNI) $1.675

CNI +1.82% with its operating profit met analyst expectations, which was reflected by the quiet day after the result.

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10/07/2024 09:14

Centuria Capital (CNI) $1.56

Early in the week, UBS re-cut their numbers on the local property stocks, and with that, they downgraded CNI to sell – should we be concerned? The list of downgrades included cutting CNI/GMG/SCG from Neutral to Sell and ARF/BWP from Buy to Neutral.

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22/05/2024 08:48

Trade Alerts – Emerging Companies Portfolio

We are making a number of changes to the Emerging Companies Portfolio. Selling FCL & GL1, trimming SLX, SFR, CNI & SRG, buying LTR & BWP, and adding to AD8 & C79.

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30/04/2024 09:07

Centuria Capital Group (CNI) $1.755

Property fund manager CNI is a stock we’ve been bullish on for a while, although it’s not delivered for us so far. However, with an interest rate cut on the horizon, if we are correct, the Real Estate Sector is poised to outperform with CNI one of our favourite yield plays in the sector, courtesy of its forecasted ~6% part franked dividend.

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21/03/2024 09:35

Centuria Capital Group (CNI) $1.80

We have discussed CNI a number of times over the last year as the position weighed on portfolio performance. Fortunately, we held our nerve, but prudent portfolio management precluded us from increasing our positions. However, we will review our position if/when we see another ~10% on the upside, although its yield is particularly attractive for our Income Portfolio.

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28/02/2024 09:41

Centuria Capital (CNI) $1.52

The property fund manager reported last week with results that were ‘as expected’ in terms of financial metrics, which we covered here; however, the stock has pulled back sharply after the update. Why? It’s always easier to explain why something happened after the fact, hindsight trading at its best, something many of our competitors are very good at in their hypothetical portfolios!

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20/02/2024 16:45

Centuria Capital (CNI) $1.74

CNI +0.29%: All as expected for the property fund manager today with operating earnings per security in 1H24 of 6.1cps, inline with expectations coming from revenue of $149.6m, down 6% YoY + an interim dividend of 5cps, as we expected. FY24 guidance was maintained which is for Operating EPS of 11.5-12cps and another 5cps of dividends, putting it on a current yield of 5.7%.

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16/02/2024 09:02

Centuria Capital (CNI) $1.79

CNI advanced +4.4% yesterday, testing its 1-year high in the process as investors position themselves for lower rates through 2024/5 – Centuria opts to leave interest rate exposure unhedged, seeing the full benefit from any fall in bond yield, hence we like the exposure given our view on rates over the next 12 months.

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01/02/2024 09:59

Centuria Capital (CNI) $1.73

CNI has rallied strongly since the 3Q of 2023 as investors moved ahead of the central banks with some rate cuts now built into the share price, but we see at least another 15% upside moving into 2024. CNI announced a $71m industrial acquisition for the Last Mile Logistics Partnership (LMLP) under Starwood Capital's $500m mandate, bringing LMLP assets under management (AUM) to $147m.

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