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Centuria Industrial REIT

ASX:CIP
Snowflake Description

Proven track record and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CIP
ASX
A$800M
Market Cap
  1. Home
  2. AU
  3. Real Estate
Company description

Centuria Industrial REIT (ASX: CIP) offers investors a chance to invest in industrial property via a listed property trust. The last earnings update was 74 days ago. More info.


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CIP Share Price and Events
7 Day Returns
-1.6%
ASX:CIP
-1.6%
AU REITs
-0%
AU Market
1 Year Returns
22.4%
ASX:CIP
18.9%
AU REITs
4.9%
AU Market
CIP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Centuria Industrial REIT (CIP) -1.6% -0.3% 7.5% 22.4% 14.5% 38.2%
AU REITs -1.6% -1.8% 5.9% 18.9% 17.5% 61%
AU Market -0% 1.5% 6.5% 4.9% 18.2% 4.8%
1 Year Return vs Industry and Market
  • CIP outperformed the REITs industry which returned 18.9% over the past year.
  • CIP outperformed the Market in Australia which returned 4.9% over the past year.
Price Volatility
CIP
Industry
5yr Volatility vs Market

CIP Value

 Is Centuria Industrial REIT undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Centuria Industrial REIT to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Centuria Industrial REIT.

ASX:CIP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.3%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ASX:CIP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.54
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.538 (1 + (1- 30%) (56.7%))
0.834
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.83
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (0.834 * 5.96%)
7.28%

Discounted Cash Flow Calculation for ASX:CIP using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Centuria Industrial REIT is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ASX:CIP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 7.28%)
2019 41.15 Analyst x2 38.36
2020 50.10 Analyst x2 43.53
2021 51.75 Analyst x2 41.91
2022 53.28 Est @ 2.96% 40.23
2023 54.76 Est @ 2.77% 38.53
2024 56.20 Est @ 2.63% 36.86
2025 57.62 Est @ 2.54% 35.23
2026 59.05 Est @ 2.47% 33.65
2027 60.48 Est @ 2.42% 32.13
2028 61.92 Est @ 2.39% 30.66
Present value of next 10 years cash flows A$371.10
ASX:CIP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= A$61.92 × (1 + 2.31%) ÷ (7.28% – 2.31%)
A$1,275.01
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$1,275.01 ÷ (1 + 7.28%)10
A$631.39
ASX:CIP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$371.10 + A$631.39
A$1,002.49
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$1,002.49 / 266.76
A$3.76
ASX:CIP Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$3.76
Current discount Discount to share price of A$3.00
= -1 x (A$3.00 - A$3.76) / A$3.76
20.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Centuria Industrial REIT is available for.
Intrinsic value
20%
Share price is A$3 vs Future cash flow value of A$3.76
Current Discount Checks
For Centuria Industrial REIT to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Centuria Industrial REIT's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Centuria Industrial REIT's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Centuria Industrial REIT's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Centuria Industrial REIT's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:CIP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$0.38
ASX:CIP Share Price ** ASX (2019-04-18) in AUD A$3
Australia REITs Industry PE Ratio Median Figure of 38 Publicly-Listed REITs Companies 10.95x
Australia Market PE Ratio Median Figure of 545 Publicly-Listed Companies 16.18x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Centuria Industrial REIT.

ASX:CIP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:CIP Share Price ÷ EPS (both in AUD)

= 3 ÷ 0.38

7.82x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Centuria Industrial REIT is good value based on earnings compared to the AU REITs industry average.
  • Centuria Industrial REIT is good value based on earnings compared to the Australia market.
Price based on expected Growth
Does Centuria Industrial REIT's expected growth come at a high price?
Raw Data
ASX:CIP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.82x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-10.3%per year
Australia REITs Industry PEG Ratio Median Figure of 33 Publicly-Listed REITs Companies 0.79x
Australia Market PEG Ratio Median Figure of 360 Publicly-Listed Companies 1.37x

*Line of best fit is calculated by linear regression .

ASX:CIP PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.82x ÷ -10.3%

-0.76x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Centuria Industrial REIT earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Centuria Industrial REIT's assets?
Raw Data
ASX:CIP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$2.70
ASX:CIP Share Price * ASX (2019-04-18) in AUD A$3
Australia REITs Industry PB Ratio Median Figure of 42 Publicly-Listed REITs Companies 1.09x
Australia Market PB Ratio Median Figure of 1,676 Publicly-Listed Companies 1.67x
ASX:CIP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:CIP Share Price ÷ Book Value per Share (both in AUD)

= 3 ÷ 2.70

1.11x

* Primary Listing of Centuria Industrial REIT.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Centuria Industrial REIT is overvalued based on assets compared to the AU REITs industry average.
X
Value checks
We assess Centuria Industrial REIT's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Centuria Industrial REIT has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CIP Future Performance

 How is Centuria Industrial REIT expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-10.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Centuria Industrial REIT expected to grow at an attractive rate?
  • Centuria Industrial REIT's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Centuria Industrial REIT's earnings are expected to decrease over the next 1-3 years, this is below the Australia market average.
  • Centuria Industrial REIT's revenue growth is positive but not above the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:CIP Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:CIP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -10.3%
ASX:CIP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 2.6%
Australia REITs Industry Earnings Growth Rate Market Cap Weighted Average -4.5%
Australia REITs Industry Revenue Growth Rate Market Cap Weighted Average 0.1%
Australia Market Earnings Growth Rate Market Cap Weighted Average 6.5%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ASX:CIP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:CIP Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-06-30 63
2021-06-30 97 53 66 1
2020-06-30 94 52 64 1
2019-06-30 91 45 79 1
ASX:CIP Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 92 47 95
2018-09-30 92 46 97
2018-06-30 92 44 99
2018-03-31 88 43 84
2017-12-31 85 41 69
2017-09-30 83 42 60
2017-06-30 81 42 51
2017-03-31 82 43 65
2016-12-31 83 43 80
2016-09-30 79 41 65
2016-06-30 75 39 50
2016-03-31 68 36 40

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Centuria Industrial REIT's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Centuria Industrial REIT's revenue is expected to grow by 2.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ASX:CIP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Centuria Industrial REIT Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:CIP Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-06-30 0.24 0.24 0.24 1.00
2021-06-30 0.25 0.32 0.19 3.00
2020-06-30 0.24 0.30 0.18 3.00
2019-06-30 0.31 0.33 0.27 3.00
ASX:CIP Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 0.38
2018-09-30 0.39
2018-06-30 0.41
2018-03-31 0.36
2017-12-31 0.31
2017-09-30 0.27
2017-06-30 0.24
2017-03-31 0.31
2016-12-31 0.38
2016-09-30 0.32
2016-06-30 0.26
2016-03-31 0.23

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Centuria Industrial REIT is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Centuria Industrial REIT's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Centuria Industrial REIT has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CIP Past Performance

  How has Centuria Industrial REIT performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Centuria Industrial REIT's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Centuria Industrial REIT has delivered over 20% year on year earnings growth in the past 5 years.
  • Centuria Industrial REIT's 1-year earnings growth exceeds its 5-year average (38.1% vs 23.7%)
  • Centuria Industrial REIT's earnings growth has exceeded the AU REITs industry average in the past year (38.1% vs -11.2%).
Earnings and Revenue History
Centuria Industrial REIT's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Centuria Industrial REIT Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:CIP Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 91.78 95.39
2018-09-30 91.90 97.14
2018-06-30 92.03 98.90
2018-03-31 88.41 83.98
2017-12-31 84.79 69.06
2017-09-30 82.83 59.94
2017-06-30 80.86 50.82
2017-03-31 82.16 65.17 0.45
2016-12-31 83.46 79.53 0.90
2016-09-30 79.36 64.66 1.12
2016-06-30 75.26 49.79 1.33
2016-03-31 68.35 40.29 1.03
2015-12-31 61.44 30.79 0.73
2015-09-30 55.88 37.36 0.64
2015-06-30 50.32 43.92 0.55
2015-03-31 45.43 46.02 0.48
2014-12-31 40.54 48.13 0.41
2014-09-30 39.34 45.04 0.56
2014-06-30 38.14 41.94 0.72
2014-03-31 40.01 28.23 0.56
2013-12-31 41.87 14.51 0.40
2013-09-30 41.38 14.07 1.52
2013-06-30 40.90 13.64 2.65
2013-03-31 37.92 6.93 2.98
2012-12-31 34.95 0.22 3.31
2012-09-30 33.77 -5.49 2.75
2012-06-30 32.60 -11.20 2.19

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Centuria Industrial REIT has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Centuria Industrial REIT used its assets more efficiently than the AU REITs industry average last year based on Return on Assets.
  • Centuria Industrial REIT's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Centuria Industrial REIT's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Centuria Industrial REIT has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CIP Health

 How is Centuria Industrial REIT's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Centuria Industrial REIT's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Centuria Industrial REIT is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Centuria Industrial REIT's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Centuria Industrial REIT's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Centuria Industrial REIT Company Filings, last reported 3 months ago.

ASX:CIP Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 719.60 453.75 25.47
2018-09-30 719.60 453.75 25.47
2018-06-30 647.49 428.00 21.19
2018-03-31 647.49 428.00 21.19
2017-12-31 621.44 434.74 7.54
2017-09-30 621.44 434.74 7.54
2017-06-30 508.96 395.37 8.19
2017-03-31 508.96 395.37 8.19
2016-12-31 510.07 402.02 5.01
2016-09-30 510.07 402.02 5.01
2016-06-30 501.60 400.87 4.45
2016-03-31 501.60 400.87 4.45
2015-12-31 474.03 387.90 5.74
2015-09-30 474.03 387.90 5.74
2015-06-30 356.51 253.31 6.33
2015-03-31 356.51 253.31 6.33
2014-12-31 268.56 228.24 3.04
2014-09-30 268.56 228.24 3.04
2014-06-30 201.92 156.96 5.75
2014-03-31 201.92 156.96 5.75
2013-12-31 182.80 151.56 7.90
2013-09-30 182.80 151.56 7.90
2013-06-30 181.15 158.52 4.82
2013-03-31 181.15 158.52 4.82
2012-12-31 96.85 199.77 1.58
2012-09-30 96.85 199.77 1.58
2012-06-30 92.21 251.79 9.10
  • Centuria Industrial REIT's level of debt (63.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (82.8% vs 63.1% today).
  • Debt is not well covered by operating cash flow (10.4%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.4x coverage).
X
Financial health checks
We assess Centuria Industrial REIT's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Centuria Industrial REIT has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CIP Dividends

 What is Centuria Industrial REIT's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.13%
Current annual income from Centuria Industrial REIT dividends. Estimated to be 6.27% next year.
If you bought A$2,000 of Centuria Industrial REIT shares you are expected to receive A$123 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Centuria Industrial REIT's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.52%).
  • Centuria Industrial REIT's dividend is above the markets top 25% of dividend payers in Australia (5.81%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ASX:CIP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Australia REITs Industry Average Dividend Yield Market Cap Weighted Average of 40 Stocks 4.7%
Australia Market Average Dividend Yield Market Cap Weighted Average of 417 Stocks 4.3%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.6%
Australia Bottom 25% Dividend Yield 25th Percentile 2.5%
Australia Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ASX:CIP Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2022-06-30 0.19 1.00
2021-06-30 0.19 3.00
2020-06-30 0.19 3.00
2019-06-30 0.18 3.00
ASX:CIP Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-03-21 0.184 6.083
2019-02-05 0.184 6.354
2018-06-21 0.194 7.093
2018-03-23 0.194 7.689
2017-08-14 0.205 8.093
2016-08-17 0.216 8.567
2015-08-19 0.210 8.306
2015-01-27 0.203 7.978
2014-12-22 0.203 8.001
2014-09-23 0.192 8.253
2014-06-18 0.186 8.082
2014-03-19 0.186 8.467
2013-12-17 0.186 9.033
2013-09-19 0.186 8.914
2013-08-12 0.180 8.587
2013-02-26 0.180 8.877
2013-02-11 0.180 9.426
2012-12-13 0.160 9.695

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Centuria Industrial REIT has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Centuria Industrial REIT only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Centuria Industrial REIT's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1x coverage).
X
Income/ dividend checks
We assess Centuria Industrial REIT's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Centuria Industrial REIT afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Centuria Industrial REIT has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CIP Management

 What is the CEO of Centuria Industrial REIT's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • Centuria Industrial REIT has no CEO, or we have no data on them.
Management Team

Anna Kovarik

TITLE
General Counsel & Company Secretary of Centuria Property Funds No. 2 Limited

Jason Huljich

TITLE
Head of Real Estate and Funds Management of Centuria Property Funds No. 2 Limited

Scott Creelman

TITLE
Financial Controller Property Funds of of Centuria Property Funds No. 2 Limited

Ross Lees

TITLE
Fund Manager
Board of Directors Tenure

Average tenure of the Centuria Industrial REIT board of directors in years:

1.7
Average Tenure
  • The average tenure for the Centuria Industrial REIT board of directors is less than 3 years, this suggests a new board.
Board of Directors

Peter Done

TITLE
Chairman of the Board of Centuria Property Funds No. 2 Limited

John Collins

TITLE
Independent Non-Executive Director of Centuria Property Funds No. 2 Limited
AGE
49
TENURE
1.8 yrs

Matthew Hardy

TITLE
Independent Non-Executive Director of Centuria Property Funds No. 2 Limited
TENURE
1.8 yrs

Nick Collishaw

TITLE
Independent Non-Executive Director of Centuria Property Funds No. 2 Limited
AGE
57
TENURE
1.5 yrs

Roger Dobson

TITLE
Independent Non-Executive Director of Centuria Property Funds No. 2 Limited
TENURE
1.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
19. Dec 18 Sell Centuria Property Funds No. 2 Limited Company 24. Oct 18 18. Dec 18 -11,139,916 A$2.83 A$-30,805,118
19. Dec 18 Buy Centuria Property Funds No. 2 Limited Company 24. Oct 18 18. Dec 18 6,135,067 A$2.77 A$16,871,718
19. Dec 18 Buy Centuria Life Limited Company 18. Dec 18 18. Dec 18 74,982 A$2.77 A$207,700
X
Management checks
We assess Centuria Industrial REIT's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Centuria Industrial REIT has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CIP News

Simply Wall St News

Should You Be Impressed By Centuria Industrial REIT's (ASX:CIP) ROE?

We'll use ROE to examine Centuria Industrial REIT (ASX:CIP), by way of a worked example. … Our data shows Centuria Industrial REIT has a return on equity of 15% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Centuria Industrial REIT (ASX:CIP) Potentially Underrated?

I've been keeping an eye on Centuria Industrial REIT (ASX:CIP) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe CIP has a lot to offer. … is a company with a

Simply Wall St -

Why Centuria Industrial REIT (ASX:CIP) May Not Be As Efficient As Its Industry

and want to begin learning the link between Centuria Industrial REIT (ASX:CIP)’s return fundamentals and stock market performance. … With an ROE of 11.11%, Centuria Industrial REIT (ASX:CIP) returned in-line to its own industry which delivered 13.18% over the past year. … But what is more interesting is whether CIP can sustain or improve on this level of return

Simply Wall St -

Are You Backing The Right Horse With Centuria Industrial REIT (ASX:CIP)?

Centuria Industrial REIT (ASX:CIP), a AU$627.47M small-cap, operates in the real estate industry which is the most prevalent industry in the global economy, and as an asset class, it has continued to play a crucial role in the portfolios of various investors. … In this article, I’ll take you through the real estate sector growth expectations, as well as evaluate whether Centuria Industrial REIT is lagging or leading its competitors in the industry. … Centuria Industrial REIT lags the pack with its negative growth rate of -18.54% over the past year, which indicates the company will be growing at a slower pace than its REIT peers.

Simply Wall St -

Three Real Estate Stocks Trading At A Massive Discount

Centuria Industrial REIT and Aventus Retail Property Fund are real estate stocks on my list that are potentially undervalued, which means their current share prices are trading well-below what the companies are actually worth. … Centuria Industrial REIT (ASX:CIP) Centuria Industrial REIT is a real estate investment trust externally managed by Centuria Property Funds No. … ASX:CIP PE PEG Gauge May 13th 18 Aventus Retail Property Fund (ASX:AVN) Aventus Property Group (APG) is a specialist fund and asset manager of Large Format Retail (LFR) centres in Australia.

Simply Wall St -

Does Centuria Industrial REIT (ASX:CIP) Have A Place In Your Portfolio?

Over the past 5 years, Centuria Industrial REIT (ASX:CIP) has returned an average of 8.00% per year to shareholders in terms of dividend yield. … See our latest analysis for Centuria Industrial REIT 5 questions I ask before picking a dividend stock Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Is its annual yield among the top 25% of dividend-paying companies? … Relative to peers, Centuria Industrial REIT generates a yield of 7.70%, which is high for REITs stocks.Next Steps: Keeping in mind the dividend characteristics above, Centuria Industrial REIT is definitely worth considering for investors looking to build a dedicated income portfolio.

Simply Wall St -

Why Centuria Industrial REIT (ASX:CIP) May Not Be As Efficient As Its Industry

Check out our latest analysis for Centuria Industrial REIT Peeling the layers of ROE – trisecting a company’s profitability Firstly, Return on Equity, or ROE, is simply the percentage of last years’ earning against the book value of shareholders’ equity. … For now, let’s just look at the cost of equity number for Centuria Industrial REIT, which is 8.55%. … While Centuria Industrial REIT exhibits a weak ROE against its peers, its returns are sufficient enough to cover its cost of equity.

Simply Wall St -

Is There Now An Opportunity In Centuria Industrial REIT (ASX:CIP)?

Centuria Industrial REIT (ASX:CIP), a reits company based in Australia, saw its share price hover around a small range of A$2.4 to A$2.57 over the last few weeks. … Let’s take a look at Centuria Industrial REIT’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … What’s more interesting is that, Centuria Industrial REIT’s share price is quite stable, which could mean two things: firstly, it may take the share price a while to move to its intrinsic value, and secondly, there may be less chances to buy low in the future once it reaches that value.

Simply Wall St -

Should You Buy Centuria Industrial REIT (ASX:CIP)?

The biggest risks I see are around the sustainability of its future growth, the opportunity cost of investing in the stock accounting for the returns I could have gotten in other peers, and its cash-to-debt management. … A consensus of AU equity real estate investment trusts (reits) analysts covering the stock indicates that its revenue level is expected to decline by -4.33% by 2021, negatively impacting earnings, with a bottom-line annual growth rate of -5.05%, on average, over the same time period. … At 248.01 million shares, that's a AU$607.63M market cap - which is too low for a company that has has a 5-year free cash flow cumulative average growth rate (CAGR) of 21.37% (source: analyst consensus).

Simply Wall St -

March Undervalued Real Estate Stocks To Invest In

Currently, Centuria Industrial REIT and Charter Hall Long WALE REIT are real estate companies I've identified as potentially undervalued, meaning their share price is below what these companies are actually worth. … Centuria Industrial REIT (ASX:CIP) Centuria Industrial REIT is a real estate investment trust externally managed by Centuria Property Funds No. … ASX:CIP PE PEG Gauge Mar 25th 18 Charter Hall Long WALE REIT (ASX:CLW) Charter Hall Long WALE REIT is an Australian Real Estate Investment Trust (“REIT”) listed on the ASX (ASX: CLW) and invests in high quality Australasian real estate assets that are predominantly leased to corporate and government tenants on long term leases.

Simply Wall St -

CIP Company Info

Description

Centuria Industrial REIT (ASX: CIP) offers investors a chance to invest in industrial property via a listed property trust. CIP is Australia’s largest ASX listed income focused industrial investment vehicle and is included in the S&P ASX300 index. CIP owns a portfolio of 37 high quality industrial assets with a value of $1 billion, the properties are located in key metropolitan locations throughout Australia.

Details
Name: Centuria Industrial REIT
CIP
Exchange: ASX
Founded: 2002
A$800,271,000
266,757,000
Website: http://www.centuria.com.au/industrial-reit/home/
Address: Centuria Industrial REIT
Level 39,
Suite 39.01,
North Sydney,
New South Wales, 2060,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX CIP Ordinary Units Australian Securities Exchange AU AUD 13. Dec 2012
ASX CIP NPV Australian Securities Exchange AU AUD 27. Jan 2017
Number of employees
Current staff
Staff numbers
0
Centuria Industrial REIT employees.
Industry
Industrial REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/20 10:34
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/02/07
Last earnings filing: 2019/02/05
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.