14 stories mentioning ASX:CNIUpdated 6d ago
Every FINWIRES story that references ASX:CNI, newest first.
Centuria Capital Group (ASX:CNI) has an average rating of overweight and mean price target of AU$2.19, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Centuria Capital Group (ASX:CNI) noted the recent report issued by SQM Research and clarified that the only balance sheet exposure of Centuria Capital to the Bathla Group is a direct AU$4.5 million loan facility to a Bathla Group entity, according to a Thursday Australian bourse filing.It noted that it is not a unitholder of the Centuria Bass Credit Fund, which is operated and managed by entities associated with Centuria Bass Credit and currently has six loan facilities to Bathla Group.Two of these facilities are construction loan facilities, one of which has ongoing construction exposure, and that project is substantially complete. The remaining loans are residual stock loans or land loans, all of which continue to accrue interest.Centuria Capital said it plans to engage constructively with SQM Research regarding these matters and seek appropriate clarification and correction where required.Its shares fell 1% in recent trading on Thursday.
Centuria Capital Group's (ASX:CNI) proposed sale of certain energy infrastructure assets and operational rights for embedded networks to Energy Bay Kappa Fund is under a phase one review by the Australian Competition and Consumer Commission (ACCC), the regulator said Friday.Centuria Capital's subsidiaries currently operate embedded network infrastructure at some of their sites, but unlike Energy Bay, they do not operate such infrastructure owned by third parties or at properties that are owned and occupied by third parties, the ACCC said.The regulator opened a consultation on the proposed deal with responses due by July 17.
Centuria Capital Group (ASX:CNI) agreed to acquire a 50% interest in the office assets located at 680 George Street and 50 Goulburn Street in Sydney, New South Wales, for AU$454 million, according to a Wednesday filing with the Australian bourse.The price represents an acquisition at about 60% below estimated replacement cost, the filing said.The transaction will be held through a newly established single-asset closed-end unlisted fund called the Centuria Sydney CBD Prime Office Fund, per the filing.The company's shares added about 1% in recent Wednesday trade.
Centuria Capital Group (ASX:CNI) opened the retail component of the entitlement offer, which is expected to raise about AU$35 million, according to a Friday filing with the Australian bourse.The retail entitlement offer is being conducted on the same terms as the recently completed institutional component, which raised roughly AU$65 million at an issue price of AU$2 per security, the filing said.The offer provides eligible retail securityholders with an opportunity to participate in the retail entitlement offer on a pro rata basis, per the filing.
Centuria Capital Group (ASX:CNI) is undertaking a AU$300 million equity raising to support its ResetData growth pipeline and strengthen its balance sheet, with the transaction expected to be only modestly dilutive to fiscal year 2027 earnings, Jefferies said in a Monday note.The equity raising includes a AU$200 million institutional placement and a 1-for-17 entitlement offer, with about 150 million new securities to be issued at AU$2 each.Jefferies said using the proceeds to repay debt would lift the company's pro forma net asset value by about 2% to AU$1.81 per security, while reducing operating gearing to 3% and look-through gearing to 32%.The firm noted ResetData's development pipeline has grown to 23 megawatts following the addition of 10 megawatts under heads of agreement and master services agreements, while its AI-F1 facility has 1.1 megawatts of live capacity and is 33% utilized.It highlighted that 16 megawatts of the expansion pipeline is under non-binding heads of agreement, including 13 megawatts expiring June 30, with the company seeking extensions but no certainty of conversion to binding contracts.The firm added that the capital raise will support the company's AU$18.3 billion funds platform and fully owned Centuria Bass, with a focus on larger unlisted real estate funds and institutional co-investment opportunities.The firm sees the equity raise cutting fiscal year 2027 earnings by under 1%, excluding any upside from reinvesting into ResetData's expansion pipeline and growth opportunities.Jefferies maintained a buy rating on Centuria Capital while raising the price target to AU$2.66 from AU$2.50.
Centuria Capital Group (ASX:CNI) completed an institutional placement and the institutional component of an entitlement offer to raise about AU$265 million in total, according to a Tuesday filing with the Australian bourse.The institutional placement generated about AU$200 million, while the institutional component of a 1-for-17 accelerated entitlement offer generated about AU$65 million, per the filing.The company said the retail component of the entitlement offer will open on June 26 and is expected to raise an additional AU$35 million, completing an aggregate equity raise of AU$300 million.Centuria will issue roughly 133 million securities under the placement and the institutional component of the entitlement offer at a price of AU$2 per security.The company's shares resumed ASX trading as of market open on Tuesday and were down nearly 8% in recent morning activity.
Centuria Capital Group (ASX:CNI) launched a AU$300 million fully underwritten equity raising initiative, according to a Monday filing with the Australian bourse.The equity raise includes an institutional placement to generate AU$200 million, and a 1-for-17 accelerated, non-renounceable pro rata entitlement offer to generate AU$100 million, per the filing.The company said it expects to issue about 150 million new shares under the equity raise at a price of AU$2 each.Centuria will use the proceeds to accelerate growth across its ResetData business and its real estate equity and credit funds management platforms.The company also reaffirmed its fiscal 2026 operating earnings guidance of AU$0.136 per security.
Centuria Capital Group (ASX:CNI) declared a dividend of AU$0.052 per share for the six months ending June 30, according to a Friday Australian bourse filing.The dividend will be paid on Aug. 27 to holders of record as of June 29, the filing said.The company paid the same dividend in the prior corresponding period, an earlier filing showed.The company's shares rose 2% in recent Friday trade.
Centuria Capital (ASX:CNI) said Australian Retirement Trust became a substantial holder in the company on June 16 with a stake of around 5.07% or 43.1 million shares, according to a Thursday Australian bourse filing.
Centuria Capital Group's (ASX:CNI) investor day lacked details regarding the long-term financing of its Sovereign AI subsidiary, ResetData, but was reflective of the 35% stock price surge over the last month, Jefferies said in a Tuesday note.The day centered on demonstrating the value of being an Nvidia Cloud Partner, demystifying common thinking around its sovereign AI supercomputer and AI Factory called AI-F1, and how the Centuria Industrial REIT (ASX:CIP) property portfolio can aid in the scale-up.The company also focused on ResetData's growth strategy rather than specific capital expenditure figures, with management expecting a payback period of two to three years on its NVIDIA chip investments.To secure high margins, ResetData maintained that it is avoiding being "the lowest cost producer," focusing on premium, differentiated services bolstered by local sovereign data status and strategic partnerships, Jefferies said.Additionally, the company plans to utilize its property portfolio to bring major new data centers online in Clayton and Thomastown in Victoria by 2029 to 2030.Jefferies reaffirmed its buy rating and AU$2.50 price target on Centuria Capital Group.Centuria Capital Group shares fell 3% in morning trade on Wednesday.
Centuria Capital Group's (ASX:CNI) current AU$1.9 billion market capital fails to capture the growth potential of its Sovereign AI subsidiary, ResetData, Jefferies said in a Monday note.Although ResetData currently operates at a loss and is not expected to break even until fiscal 2029, a planned capacity expansion to 13 megawatts from 1.1 megawatts could change its financial profile, the financial services firm said.The expansion is expected to generate roughly AU$147 million in annualized revenue and AU$63 million in earnings before interest, taxes, depreciation, and amortization.Applying the valuation framework from global Neocloud peers yields a potential enterprise value for ResetData of between AU$404 million and AU$5.3 billion.However, the figures rely on a range of assumptions and do not explain how the company will fund the required capital for growth, according to Jefferies.The company currently owns only 50% of the business, but it retains a five-year call option to secure full ownership by 2029.Jefferies reaffirmed its buy rating and AU$2.50 price target on Centuria Capital Group.Centuria Capital Group shares fell nearly 1% in midday trade Tuesday.
Centuria Capital Group (ASX:CNI) said the voting power of First Sentier Group and its related bodies corporate or associates was 5.02% in the firm as of Wednesday, and it became a substantial holder, according to a Friday Australian bourse filing.First Sentier holds 42.7 million ordinary shares in the firm.
Centuria Capital Group's (ASX:CNI) World Square purchase appears to be "at odds" with the market's preference for prime-grade assets, and also marks a doubling-down on secondary office space at a time when the company's listed satellite is trading close to an all-time low, Jefferies said in a May 11 note.The company's purchase of a 21-year-old office asset in a sub-optimal part of the central business district that is roughly 88% occupied represents Centuria Capital assuming a large counter-cyclical view on the Sydney office market, the equity research firm said."Convincing listed equity investors of the upside potential, and that it is the right move at this point in the office & rate cycles has been been met with a level of skepticism," Jefferies said.It added that despite this, the acquisition and associated capital raising would result in an estimated 4% accretion to its fiscal 2027 operating earnings per security forecast for the company.Centuria Capital likely has its work cut out to lease up the 12% of existing vacancy "in a very challenged mid-town market," but the vendor has issued a two-year rental guarantee over this income, which will help underwrite the targeted 7.5% annual distribution yield in the near term, Jefferies said.Jefferies maintained a buy rating on the company with a price target of AU$2.50.Centuria Capital Group's shares were down 1% in recent Tuesday trade.
