09/11/2023 09:09

Centuria Capital Group (CNI) $1.24

CNI is the classic high-leverage, high risk play on interest rates, it clearly suffered as they’ve risen over the last 2-years!

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03/11/2023 09:16

Centuria Capital Group (CNI) $1.24

Property Fund Manager CNI has struggled in line with the underperforming sector since 2021, but it added to losses in August after it provided soft guidance and higher interest costs when it reported. CNI are one of the most leveraged ‘plays’ on interest rates given they have less interest rate hedging in place, a double edged sword that has clearly worked against them.

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22/08/2023 09:49

Emerging Companies Portfolio – Amendments

We are reducing BAP & AD8, selling CAJ, buying SFR & CAT and adding to CNI in the Emerging Companies Portfolio.

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18/08/2023 16:41

Centuria Capital (CNI) $1.43

CNI -5.92%: the property fund manager released FY23 results today which were largely in line with expectations, however shares slumped on soft guidance. Operating profit of $115.6m and Operating EPS of 14.5c were preannounced, so no surprises there.

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17/08/2023 09:12

Centuria Capital (CNI) $1.50

We continue to like CNI but importantly its testing excellent risk/reward levels, there’s no change in our view except the price is making the stock more attractive as a potential addition to our Flagship Growth Portfolio. The Industrial real estate manager should benefit if/when bond yields fall but the sector remains under pressure as valuation write-downs come through.

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10/08/2023 09:13

Centuria Capital (CNI) $1.625

Centuria Capital (CNI) has struggled over the past 12 months but the Industrial real estate manager should in theory be a significant beneficiary of falling bond yields as they carry a fairly low level of hedging, but the sector generally has been under pressure as valuation write-downs come through thick and fast, creating headlines and influencing sentiment along the way.

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03/08/2023 09:41

Centuria Capital (CNI) $1.595

Industrial real estate manager Centuria Capital should be a significant beneficiary of falling bond yields as they carry a fairly low level of hedging but the sector is under pressure as valuation write-downs come through thick and fast, often realty checks like these can provide opportunity.

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26/04/2023 09:09

Centuria Capital (CNI) $1.74

At MM, we’re always conscious of highlighting and discussing our weakest portfolio positions - if we look after those the rest will take care of themselves! Our weakest position in the Income Portfolio has been property company Centuria Capital (CNI) which is down ~12% , although it was off more a few weeks ago. Last week, Macquarie initiated coverage of CNI with a BUY equivalent rating and a $1.79 price target. Initiation reports are very in-depth, more so than a typical research piece with this one from Macquarie clocking 45 pages. Here are our thoughts, distilled down from the report.  

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07/02/2023 16:33

Centuria Capital (CNI) $1.86

CNI -5.56% Out with 1H23 results this morning (3mins before mkt open which is ridiculous), and there were some swings and roundabouts in the numbers.

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23/12/2022 09:31

Centuria Capital Group (CNI) $1.74

CNI is a stock we discussed in our recent Portfolio Positioning webinar – Watch Here – and a position we hold in both the Income & Emerging Companies Portfolio. This is at the smaller end of the property spectrum, and they are more leveraged to interest rates given their decision not to ‘pay up’ to hedge interest rate risk like many other property companies have done, however, we are backing them to take advantage of this current downturn.

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