New Risk • Aug 04
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. Cash payout ratio: 130% Dividend yield: 11% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 130% Earnings are forecast to decline by an average of 6.0% per year for the foreseeable future. Aankondiging • Jul 30
Centuria Office REIT to Report Fiscal Year 2026 Results on Aug 04, 2026 Centuria Office REIT announced that they will report fiscal year 2026 results on Aug 04, 2026 Upcoming Dividend • Jun 25
Upcoming dividend of AU$0.025 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 14 August 2026. Trailing yield: 11%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (5.4%). Declared Dividend • Jun 08
Dividend of AU$0.025 announced Shareholders will receive a dividend of AU$0.025. Ex-date: 29th June 2026 Payment date: 14th August 2026 Dividend yield will be 13%, which is higher than the industry average of 5.8%. Buy Or Sell Opportunity • May 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.1% to €0.53. The fair value is estimated to be €0.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.0% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 6.0% per annum. Earnings are also forecast to decline by 8.5% per annum over the same time period. Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. Independent Non-Executive Director of Centuria Property Funds Limited Elizabeth McDonald was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Jan 28
Centuria Office REIT to Report First Half, 2026 Results on Feb 04, 2026 Centuria Office REIT announced that they will report first half, 2026 results on Feb 04, 2026 Aankondiging • Dec 05
Centuria Office Reit Announces the Distribution for the Quarter Ending December 31, 2025, Payable on January 30, 2026 Centuria Office REIT announced the distribution for the quarter ending December 31, 2025, payable on January 30, 2026. For the period, the company reported dividend of AUD 2.525 cents per unit with record date of December 31, 2025 and ex-date of December 30, 2025. Aankondiging • Jul 24
Centuria Office REIT to Report Fiscal Year 2025 Results on Aug 15, 2025 Centuria Office REIT announced that they will report fiscal year 2025 results on Aug 15, 2025 Aankondiging • Jun 06
Centuria Office REIT Announces Distribution for the Quarter Ending 30 June 2025, Payable on 19 August 2025 Centuria Office REIT confirmed that the distribution for the quarter ending 30 June 2025 will be 2.525 cents per unit. The Ex-distribution date is 27 June 2025, and the Record date is 30 June 2025. The Distribution payment date is 19 August 2025. COF's Distribution Reinvestment Plan (DRP) will remain suspended for the June 2025 quarter distribution. Aankondiging • Mar 07
Centuria Office REIT Confirms Distribution for the Quarter Ending 31 March 2025, Distribution Payment Date is 30 April 2025 Centuria Office REIT confirms that the distribution for the quarter ending 31 March 2025 will be 2.525 cents per unit. COF's Distribution Reinvestment Plan (DRP) will remain suspended for the March 2025 quarter distribution.
Ex-distribution date is 28 March 2025, Record date is 31 March 2025 and Distribution payment date is 30 April 2025. Upcoming Dividend • Sep 23
Upcoming dividend of AU$0.025 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 28 October 2024. Trailing yield: 9.8%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (5.0%). Declared Dividend • Sep 09
Fourth quarter dividend of AU$0.025 announced Shareholders will receive a dividend of AU$0.025. Ex-date: 27th September 2024 Payment date: 28th October 2024 Dividend yield will be 12%, which is higher than the industry average of 5.8%. Aankondiging • Aug 17
Centuria Office REIT Provides Distribution Guidance for the Fiscal Year 2025 Centuria Office REIT provided distribution guidance for the fiscal year 2025. The company expects distribution guidance of $0.101 per unit, with distributions expected to be paid in quarterly installments. Reported Earnings • Aug 15
Full year 2024 earnings released: AU$0.28 loss per share (vs AU$0.15 loss in FY 2023) Full year 2024 results: AU$0.28 loss per share (further deteriorated from AU$0.15 loss in FY 2023). Revenue: AU$161.6m (down 3.4% from FY 2023). Net loss: AU$168.7m (loss widened 84% from FY 2023). Revenue is forecast to decline by 3.0% p.a. on average during the next 3 years, while revenues in the Office REITs industry in Europe are expected to remain flat. Aankondiging • Jul 22
Centuria Office REIT to Report Fiscal Year 2024 Results on Aug 15, 2024 Centuria Office REIT announced that they will report fiscal year 2024 results on Aug 15, 2024 Declared Dividend • Jun 10
Dividend of AU$0.03 announced Shareholders will receive a dividend of AU$0.03. Ex-date: 27th June 2024 Payment date: 16th August 2024 Dividend yield will be 12%, which is higher than the industry average of 5.8%. Aankondiging • Jun 08
Centuria Office Reit Announces Distribution for the Quarter Ending 30 June 2024, Payable on August 16, 2024 Centuria Office REIT announced that the distribution for the quarter ending 30 June 2024 will be 3.00 cents per unit. Ex-distribution date is June 27, 2024. Record date is June 28, 2024. Distribution payment date is August 16, 2024. Aankondiging • Jun 06
An undisclosed buyer agreed to acquire 555 Coronation Drive office building in Toowong, Brisbane from Centuria Office REIT (ASX:COF) for AUD 37.5 million. An undisclosed buyer agreed to acquire 555 Coronation Drive office building in Toowong, Brisbane from Centuria Office REIT (ASX:COF) for AUD 37.3 million on June 5, 2024. A cash consideration of AUD 37.5 million will be paid by the buyer. Completion is expected during June 2024. Upcoming Dividend • Mar 20
Upcoming dividend of AU$0.03 per share Eligible shareholders must have bought the stock before 27 March 2024. Payment date: 30 April 2024. Trailing yield: 9.6%. Within top quartile of German dividend payers (5.0%). Higher than average of industry peers (5.7%). Declared Dividend • Mar 11
Dividend of AU$0.03 announced Shareholders will receive a dividend of AU$0.03. Ex-date: 27th March 2024 Payment date: 30th April 2024 Dividend yield will be 12%, which is higher than the industry average of 5.8%. Aankondiging • Mar 08
Centuria Office REIT Declares Distribution for the Quarter Ending 31 March 2024, Payable on 30 April 2024 Centuria Office REIT confirms that the distribution for the quarter ending 31 March 2024 will be 3.00 cents per unit. Ex-distribution date is 27 March 2024. Record date is 28 March 2024. Distribution payment date is 30 April 2024. Reported Earnings • Feb 18
First half 2024 earnings released: FFO per share: AU$0.07 (vs AU$0.084 in 1H 2023) First half 2024 results: FFO per share: AU$0.07 (down from AU$0.084 in 1H 2023). Revenue: AU$84.9m (up 1.3% from 1H 2023). Funds from operations (FFO): AU$41.8m (down 14% from 1H 2023). FFO margin: 49% (down from 58% in 1H 2023). Revenue is expected to decline by 2.1% p.a. on average during the next 3 years, while revenues in the Office REITs industry in Europe are expected to grow by 1.3%. Aankondiging • Jan 29
Centuria Office REIT to Report First Half, 2024 Results on Feb 16, 2024 Centuria Office REIT announced that they will report first half, 2024 results on Feb 16, 2024 Upcoming Dividend • Dec 21
Upcoming dividend of AU$0.03 per share at 8.9% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 31 January 2024. Trailing yield: 8.9%. Within top quartile of German dividend payers (5.1%). Higher than average of industry peers (5.5%). Aankondiging • Dec 05
Centuria Office REIT Declares Distribution for the Quarter Ending 31 December 2023, Payable on 31 January 2024 Centuria Office REIT confirmed that the distribution for the quarter ending 31 December 2023 will be 3.00 cents per unit. Ex-distribution date: 28 December 2023. Record date: 29 December 2023. Distribution payment date: 31 January 2024. Upcoming Dividend • Sep 21
Upcoming dividend of AU$0.03 per share at 9.8% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 27 October 2023. Trailing yield: 9.8%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (5.9%). Aankondiging • Sep 08
Centuria Office REIT Declares Distribution for the Quarter Ending 30 September 2023, Payable on 27 October 2023 Centuria Office REIT confirmed that the distribution for the quarter ending 30 September 2023 will be 3.00 cents per unit. Ex-distribution date: 28 September 2023. Record date: Record date. Distribution payment date: 27 October 2023. New Risk • Aug 17
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. Cash payout ratio: 115% Dividend yield: 10% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.9x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 115% Reported Earnings • Aug 17
Full year 2023 earnings released: AU$0.15 loss per share (vs AU$0.20 profit in FY 2022) Full year 2023 results: AU$0.15 loss per share (down from AU$0.20 profit in FY 2022). Revenue: AU$170.1m (down 6.1% from FY 2022). Net loss: AU$91.9m (down 180% from profit in FY 2022). Revenue is expected to decline by 6.0% p.a. on average during the next 2 years, while revenues in the Office REITs industry in Europe are expected to grow by 1.4%. Upcoming Dividend • Jun 22
Upcoming dividend of AU$0.035 per share at 12% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 18 August 2023. Trailing yield: 12%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (5.8%). Aankondiging • Jun 17
Centuria Office REIT Announces Distribution for the Quarter Ending June 30, 2023, Payable on August 18, 2023 Centuria Office REIT confirms that the distribution for the quarter ending 30 June 2023 will be 3.525 cents per unit. Ex-distribution date is June 29, 2023. Record date is June 30, 2023. Distribution payment date is August 18, 2023. Buying Opportunity • Feb 04
Now 21% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be €1.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to decline by 5.9% in 2 years. Earnings is forecast to grow by 157% in the next 2 years. Reported Earnings • Feb 03
First half 2023 earnings released: AU$0.029 loss per share (vs AU$0.11 profit in 1H 2022) First half 2023 results: AU$0.029 loss per share (down from AU$0.11 profit in 1H 2022). Revenue: AU$83.8m (down 3.4% from 1H 2022). Net loss: AU$17.4m (down 127% from profit in 1H 2022). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the REITs industry in Europe. Aankondiging • Feb 02
Centuria Office REIT Provides Distribution Guidance for the Financial Year 2023 Centuria Office REIT announced the 2023 financial year distribution guidance is 14.1 cpu which will be paid in equal quarterly instalments. Buying Opportunity • Jan 20
Now 21% undervalued Over the last 90 days, the stock is up 12%. The fair value is estimated to be €1.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to decline by 2.2% per annum. Earnings is also forecast to decline by 3.0% per annum over the same time period. Aankondiging • Jan 17
Centuria Office REIT to Report First Half, 2023 Results on Feb 02, 2023 Centuria Office REIT announced that they will report first half, 2023 results on Feb 02, 2023 Upcoming Dividend • Dec 22
Upcoming dividend of AU$0.035 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 31 January 2023. Trailing yield: 10%. Within top quartile of German dividend payers (5.1%). Higher than average of industry peers (5.7%). Upcoming Dividend • Sep 22
Upcoming dividend of AU$0.035 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 28 October 2022. Trailing yield: 11%. Within top quartile of German dividend payers (5.1%). Higher than average of industry peers (5.4%). Recent Insider Transactions • Aug 06
Independent Non-Executive Director recently bought €69k worth of stock On the 4th of August, Peter Done bought around 60k shares on-market at roughly €1.15 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €188k more in shares than they have sold in the last 12 months. Reported Earnings • Aug 03
Full year 2022 earnings released: FFO: AU$167.0m per share (vs AU$0.20 in FY 2021) Full year 2022 results: FFO: AU$167.0m per share. Revenue: AU$167.0m (up 3.2% from FY 2021). Funds from operations (FFO): AU$104.9m (up 2.6% from FY 2021). FFO margin: 63% (in line with FY 2021). Over the next year, revenue is forecast to decline by 16% while the reits industry in Germany is not expected to grow. Upcoming Dividend • Jun 22
Upcoming dividend of AU$0.042 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 05 August 2022. Trailing yield: 9.4%. Within top quartile of German dividend payers (4.4%). Higher than average of industry peers (4.7%). Board Change • Mar 17
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 2 highly experienced directors. Independent Non-Executive Director of Centuria Property Fund Limited John Collins was the last director to join the board, commencing their role in 2015. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 
