Highlights

  • Consensus rating of Buy from 10 analysts: 6 Buy or equivalent, 4 Hold, 0 Sell or equivalent.
  • Mean price target of A$3.34 against a share price of A$2.80 on 8 October 2026, an implied upside of 19.2%.
  • Analyst targets range from A$3.00 to A$3.79.
  • Like-for-like net Operating Income grew 5.2%.

Centuria Industrial REIT (ASX:CIP) carries a consensus analyst rating of Buy. Of the 10 analyst recommendations recorded, 6 are Buy or equivalent, 4 are Hold and 0 are Sell or equivalent. The mean price target is A$3.34, with targets ranging from A$3.00 to A$3.79, against a current share price of A$2.80 (8 October 2026). Centuria Industrial REIT is described as Australia's largest domestic pure-play industrial REIT, with 83 Assets valued at $3.9 billion.

Company name

Centuria Industrial REIT

Ticker

(ASX:CIP)

Exchange

ASX (Australian Securities Exchange)

Current share price

A$2.80

Price date

8 October 2026

Number of analysts

10

Rating consensus

Buy

Consensus price target (mean)

A$3.34

Highest target

A$3.79

Lowest target

A$3.00

Implied upside/downside to mean target

Implied upside of 19.2%

Latest developments

Centuria Industrial REIT (ASX:CIP) announced its FY26 financial results for the period ended 30 June 2026 on 11 August 2026. Like-for-like net operating income grew 5.2%. Funds From Operations (FFO) were $114.1 million, up 4% on a cents per unit basis, equating to 18.2 cents per unit, with distributions of 16.8 cents per unit, in line with guidance. Net tangible assets were $4.01 per unit. Gearing was 34.9%, 54% of Debt was hedged, $775 million was refinanced with margins reduced by 10 to 20 basis points, and the REIT had $457 million of cash and undrawn debt with a weighted average debt expiry of 3.6 years.

The portfolio comprises 83 assets worth $3.9 billion, with a WALE of 7.0 years and occupancy of 95.2%. The REIT completed $200 million of divestments at an average 17% premium to book value, leased 226,200 square metres, achieved re-leasing spreads of 30% and recorded a $116 million valuation gain at a 5.8% weighted average Capitalisation rate. It identified a pathway to more than 250 MW of power capacity across the existing portfolio for potential data centre use.

FY27 guidance is for FFO of 18.8 to 19.2 cents per unit, up to 5.5% above FY26, and distributions of 17.3 cents per unit, 3% above FY26.

Risks and what to watch

Only 54% of debt is hedged, leaving the remainder exposed to Interest Rate movements, and gearing is 34.9%. Valuations, leasing spreads and capitalisation rates affect results. The data centre power capacity is described as a pathway and conversion would depend on approvals, Demand and capital. FY27 guidance is a range and depends on leasing and financing costs.

Next milestones

Items to watch include delivery of FY27 guidance of 18.8 to 19.2 cents of FFO per unit and 17.3 cents of distributions per unit, progress on data centre opportunities, hedging levels, further divestments, and the half-year result.