Centuria Industrial REIT reaffirms guidance after strong Q3
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The news: Property investor Centuria Industrial REIT has reaffirmed its full-year guidance after reporting strong leasing activity across its portfolio.
The numbers: The landlord leased over 23,000 square metres across six deals during the quarter, taking its total year to date to 102,000 sqm. Positive re-leasing spreads averaged 41% year-to-date, reflecting robust rental growth.
The group also reaffirmed its full year guidance for funds from operations (FFO) of 17.5 cents per unit, and distribution of 16 cents a unit.
Centuria Industrial securities were down nearly 1% to $3.02 in early trading on the ASX.
The context: Centuria Industrial fund manager Grant Nichols said the portfolio, which has a weighting to infill markets, is well positioned to capitalise on macroeconomic tailwinds and supply-demand imbalances.
What they said: “Throughout the start of 2025, there has been increased investment demand for Australian industrial real estate, particularly in Sydney, where CIP has a 30% portfolio weighting,” he said.
The source: ASX
