Centuria Industrial REIT

ASX:CIP Stock Report

Market Cap: AU$1.9b

Centuria Industrial REIT Valuation

Is CIP undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CIP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CIP (A$2.97) is trading below our estimate of fair value (A$3.53)

Significantly Below Fair Value: CIP is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CIP?

Key metric: As CIP is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CIP. This is calculated by dividing CIP's market cap by their current earnings.
What is CIP's PE Ratio?
PE Ratio39.2x
EarningsAU$48.15m
Market CapAU$1.89b

Price to Earnings Ratio vs Peers

How does CIP's PE Ratio compare to its peers?

The above table shows the PE ratio for CIP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average51.6x
INA Ingenia Communities Group
145.4x25.6%AU$2.0b
ARF Arena REIT
28.1x6.7%AU$1.6b
CNI Centuria Capital Group
21.7x13.3%AU$1.6b
ASK Abacus Storage King
11.3x-1.7%AU$1.6b
CIP Centuria Industrial REIT
39.2x15.6%AU$1.9b

Price-To-Earnings vs Peers: CIP is good value based on its Price-To-Earnings Ratio (39.2x) compared to the peer average (51.6x).

Price to Earnings Ratio vs Industry

How does CIP's PE Ratio compare vs other companies in the Global Industrial REITs Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CIP 39.2xIndustry Avg. 20.0xNo. of Companies10PE01224364860+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CIP is expensive based on its Price-To-Earnings Ratio (39.2x) compared to the Global Industrial REITs industry average (20x).

Price to Earnings Ratio vs Fair Ratio

What is CIP's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CIP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio39.2x
Fair PE Ratio22.5x

Price-To-Earnings vs Fair Ratio: CIP is expensive based on its Price-To-Earnings Ratio (39.2x) compared to the estimated Fair Price-To-Earnings Ratio (22.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CIP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$2.97
AU$3.56
+19.9%
5.9%AU$3.85AU$3.20n/a10
Nov ’25AU$3.04
AU$3.56
+17.2%
5.9%AU$3.85AU$3.20n/a10
Oct ’25AU$3.21
AU$3.55
+10.5%
6.1%AU$3.81AU$3.20n/a10
Sep ’25AU$3.15
AU$3.44
+9.2%
9.6%AU$3.81AU$2.59n/a11
Aug ’25AU$3.17
AU$3.44
+8.5%
9.6%AU$3.81AU$2.59n/a11
Jul ’25AU$3.02
AU$3.51
+16.1%
9.3%AU$3.81AU$2.59n/a11
Jun ’25AU$3.17
AU$3.50
+10.5%
9.3%AU$3.81AU$2.59n/a11
May ’25AU$3.16
AU$3.51
+10.9%
9.3%AU$3.81AU$2.59n/a12
Apr ’25AU$3.54
AU$3.47
-1.9%
9.1%AU$3.75AU$2.59n/a12
Mar ’25AU$3.37
AU$3.47
+3.0%
9.1%AU$3.75AU$2.59n/a12
Feb ’25AU$3.24
AU$3.40
+5.1%
5.3%AU$3.71AU$3.10n/a11
Jan ’25AU$3.25
AU$3.35
+3.0%
5.4%AU$3.71AU$3.05n/a11
Dec ’24AU$3.04
AU$3.35
+10.1%
5.4%AU$3.71AU$3.05n/a11
Nov ’24AU$2.87
AU$3.33
+16.0%
8.6%AU$3.71AU$2.55AU$3.0411
Oct ’24AU$3.01
AU$3.38
+12.2%
9.0%AU$3.71AU$2.55AU$3.2111
Sep ’24AU$3.06
AU$3.38
+10.3%
9.0%AU$3.71AU$2.55AU$3.1511
Aug ’24AU$3.19
AU$3.36
+5.4%
9.2%AU$3.68AU$2.55AU$3.1711
Jul ’24AU$3.10
AU$3.38
+9.2%
8.9%AU$3.68AU$2.55AU$3.0212
Jun ’24AU$3.17
AU$3.39
+6.8%
9.0%AU$3.68AU$2.55AU$3.1712
May ’24AU$3.13
AU$3.39
+8.3%
9.0%AU$3.68AU$2.55AU$3.1612
Apr ’24AU$3.00
AU$3.46
+15.3%
5.2%AU$3.68AU$3.00AU$3.5411
Mar ’24AU$3.25
AU$3.39
+4.2%
8.8%AU$3.68AU$2.58AU$3.3712
Feb ’24AU$3.43
AU$3.38
-1.4%
8.8%AU$3.68AU$2.58AU$3.2412
Jan ’24AU$3.12
AU$3.26
+4.6%
8.2%AU$3.69AU$2.58AU$3.2512
Dec ’23AU$3.25
AU$3.23
-0.5%
8.4%AU$3.69AU$2.58AU$3.0412
Nov ’23AU$3.02
AU$3.32
+10.0%
9.2%AU$3.70AU$2.58AU$2.8712

Analyst Forecast: Target price is less than 20% higher than the current share price.

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