Centuria Industrial REIT (ASX:CIP) Announces HY25 Results
Financial Performance
Centuria Industrial REIT reported total revenue of $128.9m for the half-year, up 11.5% from HY24. Funds from operations (FFO) per unit increased to 8.9c, with distributions per unit at 8.15c, reflecting a distribution yield of 5.8%.
Operational Performance
The REIT achieved a 6.4% like-for-like NOI growth and secured over 79,000sqm of leasing, maintaining a portfolio occupancy rate of 96.6%. Additionally, $60m of development commencements were made during the period, progressing the future development pipeline.
Capital Management
Centuria executed $200m in interest rate hedging at attractive pricing and refinanced $100m of forward debt. The gearing ratio stands at 33.5%, at the lower end of the target range, with no debt maturities until FY26.
Outlook and Guidance
Centuria reiterated its FY25 FFO guidance of 17.5c per unit and distributions of 16.3c per unit, maintaining a payout ratio of 93%.
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