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Centuria Office REIT (COF)

FY21 Results - Growing the Fringe

Centuria Office REIT (ASX: COF) reported FY21 Results for the 12 months to 3 June 2021.

Key points from the result include:

  • FFO of 19.9 cpu, up from 18.6 cpu in FY20. Earnings boost from one-off lease surrender payment by Foxtel at Robina QLD location. We estimate additional $9M payment booked.
  • Occupancy improved to 93.1% (from 91.5% at December 2020) with majority of successful leasing at previous Foxtel Robina QLD.
  • Conservative guidance for FY22 earnings of 18.0 cpu, with distributions of 16.6 cpu.
  • Attractive FY22 yield of 6.8%. Core Property maintains BUY rating.
Download our report for the full details.

Published - 17/08/2021

Core Property Rating - BUY

Target - $2.69

This publication is not and should not be construed as, personal financial product advice, an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Any opinion contained in the Report is unsolicited general information (general financial product advice) only. Read more here.