Core Property has initiated coverage of Centuria Capital Group (ASX: CNI) with a BUY recommendation and a price target of $2.20 per security.
Centuria Capital Group is a vertically integrated fund manager with $21.2 billion of Assets Under Management, including $20.4 billion in real estate funds.
Centuria manages both listed and unlisted funds across multiple sectors including office, industrial, retail as well as healthcare, agriculture and credit funds, providing diverse opportunities for the funds management platform across the investment cycle.
At current price levels, we consider CNI provides an attractive value proposition with the potential for relatively high returns, based on the delivery of organic AUM growth.