Centurion reit news

Centurion REIT (JSE: CEF) is a South African real estate investment trust that focuses on acquiring and managing a diversified portfolio of commercial properties. Here are some recent news and updates about Centurion REIT:

Recent News:

  1. Acquisition of new properties: Centurion REIT has acquired two new properties, a 12,000 square meter office building in Pretoria and a 10,000 square meter warehouse in Johannesburg, for a total consideration of R240 million.
  2. Portfolio growth: The company's portfolio has grown by 14% year-on-year, with a total value of R4.3 billion as at 31 December 2022.
  3. Diversification of income streams: Centurion REIT has diversified its income streams by acquiring a 25% stake in a property development company, which will provide an additional source of income.
  4. Sustainability initiatives: The company has implemented various sustainability initiatives, including energy-efficient lighting and solar panels, to reduce its carbon footprint and save costs.
  5. Strong financial performance: Centurion REIT reported a strong financial performance for the year ended 31 December 2022, with a 12% increase in distributable income and a 15% increase in net asset value per share.

Recent Financial Results:

  1. Distributable income: Centurion REIT reported a distributable income of R1.34 billion for the year ended 31 December 2022, up 12% from the previous year.
  2. Net asset value per share: The company's net asset value per share increased by 15% to R14.44 as at 31 December 2022.
  3. Occupancy rate: The company's occupancy rate remained strong at 93.4% as at 31 December 2022.

Upcoming Events:

  1. Annual General Meeting: Centurion REIT's annual general meeting is scheduled to take place on 28 April 2023.
  2. Interim Results: The company is expected to release its interim results for the six months ended 30 June 2023 in August 2023.

Analyst Views:

  1. Buy recommendation: Analysts at Nedbank CIB have a "buy" recommendation on Centurion REIT, citing its strong financial performance and growth prospects.
  2. Target price: The target price for Centurion REIT is R15.50, according to Nedbank CIB.

Please note that the information provided is subject to change and may not be up to date. It is recommended to check the company's website or consult with a financial advisor for the latest information.