Centuria Office REIT (COF) $1.76
COF +7.98%: A slight beat on a number of key metrics at their 1H23 results today led to a reasonable pop in the share price which shows how bearish the market is towards office assets, and property more generally.
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Undervalued
Morningstar Quantitative Rating as of 30 OCT 2026.
Quantitative Equity Rating Methodology – view here
Five-star price 0.93 Fair value 1.11 One-star price 1.33
Morningstar Quantitative Rating as of 30 OCT 2026.
Morningstar Quantitative Rating as of 30 OCT 2026. The slider runs from the five-star price (0.93) to the one-star price (1.33).
| Ratios |
|---|
| Currency (Price/reporting): AUD/AUD |
| Exchange Rate: 1.0000 |
| Price - closing or last bid | 0.88 |
| Price - 12 month high | 1.22 |
| Price - 12 month low | 0.81 |
| Pricing date | 29 OCT 2026 |
| Volume - avg. trading volume for the last ten days | 0.43 |
| Market capitalization | 522.67 |
| 12 Month High price date | 30 OCT 2025 |
| 12 Month Low price date | 6 OCT 2026 |
| Volume - avg. trading volume for the last 3 months | 0.97 |
| Price - 1 Day % Change | 1.16% |
| Price - 13 week price percent change | -4.89% |
| Price - 26 week price percent change | -6.42% |
| Price - 5 Day % Change | 1.74% |
| Price - 52 week price percent change | -28.57% |
| Price - YTD price percent change | -23.91% |
| Price % Change Month To Date | 5.42% |
| EPS excluding extraordinary items - most recent fiscal year | 0.092 |
| EPS excluding extraordinary items - trailing 12 month | 0.092 |
| EPS Normalized - most recent fiscal year | 0.087 |
| Revenue/share - most recent fiscal year | 0.255 |
| Revenue/share - trailing 12 month | 0.255 |
| Book value per share - most recent fiscal year | 1.658 |
| Book value per share - most recent half-year | 1.658 |
| Book value (tangible) per share - most recent fiscal year | 1.658 |
| Book value (tangible) per share - most recent half-year | 1.658 |
| Cash per share - most recent fiscal year | 0.015 |
| Cash per share - most recent half-year | 0.015 |
| Cash Flow per share - most recent fiscal year | 0.074 |
| Cash Flow per share - trailing 12 month | 0.074 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.098 |
| EBITD per share - trailing 12 month | 0.176 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 0.092 |
| EPS Basic excluding extraordinary items - trailing 12 month | 0.092 |
| EPS including extraordinary items - most recent fiscal year | 0.092 |
| EPS including extraordinary items - trailing 12 month | 0.092 |
| Free Cash Flow per share - trailing 12 month | 0.074 |
| P/E excluding extraordinary items, most recent fiscal year | 9.51 |
| P/E Normalized, most recent fiscal year | 10.08 |
| Price to sales - most recent fiscal year | 3.43 |
| Price to Tangible Book - most fiscal year | 0.53 |
| Price to Free Cash Flow per Share - most recent fiscal year | 11.83 |
| Price to Cash Flow per share - trailing 12 month | 11.83 |
| Price to Book - most recent fiscal year | 0.53 |
| P/E excluding extraordinary items high, trailing 12 months | 10.19 |
| P/E excluding extraordinary items low, trailing 12 months | 8.25 |
| Net Debt, LFI | 924.56 |
| Net Debt, LFY | 853.59 |
| Dividend Yield - 5 Year Average | 9.53% |
| Dividend Yield - indicated annual dividend divided by closing price | 11.42% |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 11.23% |
| Free Cash Flow - most recent fiscal year | 44.17 |
| LT debt/equity - most recent fiscal year | 87.10% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 87.10% |
| LT debt/equity - most recent half-year | 91.10% |
| Total debt/total equity - most recent half-year | 91.10% |
| Free Cash Flow - trailing 12 month | 44.17 |
| Payout ratio - trailing 12 month | — |
| Revenue - most recent fiscal year | 152.58 |
| Revenue - trailing 12 month | 152.58 |
| EBITD - most recent fiscal year | 104.88 |
| EBITD - trailing 12 month | 104.88 |
| Earnings before taxes - most recent fiscal year | 55.19 |
| Earnings before taxes - trailing 12 month | 55.19 |
| Net Income available to common - most recent fiscal year | 55.19 |
| Net Income available to common - trailing 12 months | 55.19 |
| Earnings before taxes Normalized - most recent fiscal year | 52.11 |
| Net Income Available to Common, Normalized - most recent fiscal year | — |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 0.09 |
| Net Profit Margin % - 1st historical fiscal year | 36.17% |
| Net Profit Margin % - trailing 12 month | 36.17% |
| Operating margin - 1st historical fiscal year | 56.13% |
| Operating margin - trailing 12 month | 56.13% |
| Pretax margin - trailing 12 month | 36.17% |
| Pretax margin - 1st historical fiscal year | 36.17% |
| Operating Margin - 5 year average | 59.97% |
| Pretax Margin - 5 year average | -13.58% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 42.36% |
| Free Operating Cash Flow/Revenue, TTM | 28.95% |
| Net Profit Margin - 5 year average | -13.58% |
| Return on average assets - most recent fiscal year | 2.83% |
| Return on average assets - trailing 12 month | 2.83% |
| Return on average equity - most recent fiscal year | 5.49% |
| Return on average equity - trailing 12 month | 5.49% |
| Return on average assets - 5 year average | -0.69% |
| Return on average equity - 5 year average | -1.32% |
| Net Income/employee - most recent fiscal year | — |
| Revenue/employee - most recent fiscal year | — |
| Revenue growth rate, 5 year | -1.17% |
| EPS growth rate, 5 year | -9.23% |
| Growth rate% - dividend, 3 year | -10.53% |
| Revenue/share (5 yr growth) | -3.98% |
| Growth rate% - Revenue, 3 year | -2.93% |
| Growth rate% - EPS, 3 year | — |
| Book value per share growth rate, 5 year | -7.63% |
| Capital Spending growth rate, 5 year | — |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | 1.92% |
Financial forecast (AUD, millions except per share)
| Actuals | Estimates | |||||||
| 2026 | 2027 | 2028 | ||||||
| Estimate breakdown | ||||||||
Financials (AUD, millions)
| Period end: | JUN 22 | JUN 23 | JUN 24 | JUN 25 | JUN 26 |
| Fiscal year: | 2022 | 2023 | 2024 | 2025 | 2026 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
COF +7.98%: A slight beat on a number of key metrics at their 1H23 results today led to a reasonable pop in the share price which shows how bearish the market is towards office assets, and property more generally.
COF -8.36%: Sharply lower on downbeat guidance for FY23. The office landlord said that funds from operations (FFO’s) for FY23 would be $0.158 per unit, lower than FY22’s $0.182 per unit. “Prevailing inflation, and subsequent rising interest rates, have impacted our FY23 FFO guidance, though we expect COF to have like-for-like net operating income...
Centuria Office REIT is an externally managed real estate investment vehicle. The trust holds a portfolio of office buildings and passes most of the income generated from leasing out these properties to unitholders. Centuria Office focuseson suburban offices, with nearly the entire portfolio located in major Australian capital cities and rated modern A-grade.The external manager, Centuria Capital Group, receives fees from Centuria Office in exchange for leasing, property management, and development management services, and retains a 19% interest in the trust. Centuria Office REIT was originally called Centuria Metropolitan REIT. It was renamed in 2020 after selling its industrial assets and becoming a pure-play office REIT.
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