FY24 guidance was reaffirmed during the release of Centuria Industrial REIT's 1Q results. Management noted ongoing strength in industrial markets and confirmed the sale of two Victorian assets for $70m in line with June-2023 book value.

While retaining an Equal-weight rating, Morgan Stanley believes the REIT could be more resilient than peers, even as cap rates expand, due to the ongoing positive trends for industrial rents.

Target $3.30. Equal-weight. Industry view: In-Line. 

Sector: Real Estate.

Target price is $3.30.Current Price is $2.93. Difference: $0.37 - (brackets indicate current price is over target). If CIP meets the Morgan Stanley target it will return approximately 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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