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 (the Trust) is an Australia-based managed investment scheme. The principal activity of the Trust is investment in commercial office property within Australia. The Trust offers investors an opportunity to invest in commercial property through a real estate investment trust. The primary objective as a real estate investment trust is to generate sustainable and quality income streams, by executing initiatives to create value across a portfolio of quality Australian office assets. It derives approximately 80% of its income from government, multinational corporations, and listed company tenants. Its property portfolio includes 8 Central Ave, Eveleigh, 201 Pacific Hwy, St Leonards, 9 Help St, Chatswood, 2 Phillip Law St, Canberra, 60 Marcus Clarke St, Canberra, 54 Marcus Clarke St, Canberra, 825 Ann St, Fortitude Valley, 154 Melbourne St, South Brisbane, 818 Bourke St, Docklands, 101 Moray, South Melbourne, 1 Richmond Rd, Keswick, 235 William St, Northbridge, and others.
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