CENTURIA OFFICE REIT (COF)
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COF

COF - CENTURIA OFFICE REIT

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 11.66
Index: ALL-ORDS

Centuria Office is a real estate investment trust with assets consisting solely of commercial office properties. It has been listed since 2014.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.935

30 Apr
2026

0.000

OPEN

$0.93

0.000

HIGH

$0.94

893,818

LOW

$0.93

TARGET
$0.99 5.9% upside
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . ASK . BWP . CDP . CDP . CHC . CIP . CLW . CQE . CQR . DGT . DXC . DXI . DXS . GDF . GDI . HCW . HDN . NSR . PLG . REP . RFF . RGN . SCG . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
COF: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 3.3 11.1 xxx
DPS (cps) xxx 10.1 10.1 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx - 15.8% - 0.5% xxx
PE Ratio xxx N/A 8.4 xxx
Dividend Yield xxx N/A 10.8% xxx
Div Pay Ratio(%) xxx N/A 90.8% xxx

Dividend yield today if purchased 3 years ago: 7.01%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 10.86

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 29/09 - (franking ex-div 2.53c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-3.3
DPS All xxxxxxxxxxxxxxx10.1
Sales/Revenue xxxxxxxxxxxxxxx154.3 M
Book Value Per Share xxxxxxxxxxxxxxx166.7
Net Operating Cash Flow xxxxxxxxxxxxxxx50.9 M
Net Profit Margin xxxxxxxxxxxxxxx-12.82 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-1.91 %
Return on Invested Capital xxxxxxxxxxxxxxx-1.03 %
Return on Assets xxxxxxxxxxxxxxx-1.01 %
Return on Equity xxxxxxxxxxxxxxx-1.91 %
Return on Total Capital xxxxxxxxxxxxxxx4.04 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-12.3 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx902 M
Total Debt xxxxxxxxxxxxxxx902 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx9 M
Price To Book Value xxxxxxxxxxxxxxx0.67

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx0.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.00 %
Cost of Goods Sold xxxxxxxxxxxxxxx62 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx15 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1,936 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.3

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgans

06/02/2026

3

Hold

$0.90

(25/03/2026)

-3.74%

Centuria Office REIT announced 1H26 funds from operations of $33.4m with a distribution of 5.1c, which met Morgans' expectations.

The analyst views distribution challenges ahead for the REIT given high gearing and existing distributions that are too excessive, notably when facing higher interest rates.

Management reiterated FY26 guidance for funds from operations at 11-11.5c and a distribution (dividend) of 10.1c, which equates to a 9.5% yield.

The REIT's portfolio is valued at $2bn across 19 CBD fringe office assets with an average age of 18 years. Morgans retains a Hold rating and lowers its target to $1.05 from $1.20.

FORECAST
Morgans forecasts a full year FY26 dividend of 10.10 cents and EPS of 11.20 cents.
Morgans forecasts a full year FY27 dividend of 10.10 cents and EPS of 11.20 cents.

Bell Potter

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

xx/xx/xxxx

4

xxxxxxxxxxx

$xx.xx

xx.xx%

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Moelis

05/02/2026

1

Buy

$1.57

67.91%

Centuria Office REIT delivered strong first half leasing, which Moelis believes has de-risked near-term earnings, although cash cover remains tight.

The broker highlights 29k sqm, or 10.7% of net leasable assets, was leased in 1H26, reducing remaining FY26 expiries to 3.9% of income, while vacancy edged up to 9.4%.

Like-for-like net operating income appears to have stabilised, but rising debt and interest costs are expected to erode much of the benefit from rental growth.

Forecast changes reflect stronger 1H26 leasing, the sale of 9 Help St Chatswood, and higher interest rate assumptions, with  forecast FY28 net profit after tax cut by -7.6%.

Moelis retains a Buy rating with the target price reduced to $1.57 from $1.61.

FORECAST
Moelis forecasts a full year FY26 dividend of 10.10 cents and EPS of 11.50 cents.
Moelis forecasts a full year FY27 dividend of 10.10 cents and EPS of 11.90 cents.
Access Extra Coverage Research History >

COF STOCK CHART

FNArena News on COF

Latest REITs News

1
Australian Listed Real Estate Tables – 06-06-2022

Jun 06 2022 - Weekly Reports
2
Australian Listed Real Estate Tables – 30-05-2022

May 30 2022 - Weekly Reports
3
Australian Listed Real Estate Tables – 23-05-2022

May 23 2022 - Weekly Reports
4
Australian Listed Real Estate Tables – 16-05-2022

May 16 2022 - Weekly Reports
5
Australian Listed Real Estate Tables – 09-05-2022

May 09 2022 - Weekly Reports
6
Australian Listed Real Estate Tables – 03-05-2022

May 03 2022 - Weekly Reports
7
Australian Listed Real Estate Tables – 26-04-2022

Apr 26 2022 - Weekly Reports
8
Australian Listed Real Estate Tables – 19-04-2022

Apr 19 2022 - Weekly Reports
9
Australian Listed Real Estate Tables – 11-04-2022

Apr 11 2022 - Weekly Reports
10
Australian Listed Real Estate Tables – 04-04-2022

Apr 04 2022 - Weekly Reports