Stock Analysis

• The interim distribution was 9.58 cents per security and the final 9.83 cents, a total of 19.41 cents, up 4.1 per cent.

• Its propertyInvestmentportfolio was $3.2 billion at the result date, withBalance Sheetgearing of 14.2% and $1.0 billion of investment capacity.

• Leasing of 226,200 square metres equated to around 18% of the portfolio's space, described as near-record volume.

• In FY26, 51% of leases were triple net, where tenants bear most property outgoings, and all had annual rent increases, with 54% of reviews linked to the consumer price index.

• It manages listed vehicles, including Centuria Industrial REIT and Centuria Office REIT, and a range of unlisted funds, and it has a privateCreditarm, Centuria Bass Credit, with AUM of $2.6 billion (FY25: $2.3 billion).

• The group's convenience net lease portfolio had a weighted average lease expiry (WALE) of 10.4 years and represented 49% of portfolio income.

• Look-through gearing of 33.4% includes Dexus's share ofDebtin its managed funds and joint ventures, which gives a fuller picture than headline gearing.