CIP - Morgan Stanley rates the stock as Overweight
PUBLISHED
2021-08-06
Content
On the back of a reported funds from operations of $91.4m for FY21, Centuria Industrial REIT is guiding to a minimum 18.1 cents funds from operations per share and 17.3 cents dividend per share for FY22.
Morgan Stanley notes guidance is a slight miss on the broker's forecast, but highlights Centuria Industrial historically updates guidance throughout the year following acquisitions and that FY22 is shaping up to be another active year for acquisitions.
The Overweight rating and target price of $3.90 are retained. Industry view: In-line.
Sector: Real Estate.
Target price is $3.90.Current Price is $3.86. Difference: $0.04 - (brackets indicate current price is over target). If CIP meets the Morgan Stanley target it will return approximately 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).