Shares to tumble at the opening; Wall Street drops on geopolitical tensions; Judo Bank seeks $75 million hybrids, South32 flags 33 per cent drop in coal output; Oil prices and bond yields pare gains.
Centuria Industrial REIT affirmed its funds from operations guidance for fiscal 2024 of 17¢ per unit and distribution guidance of 16¢, reflecting an annualised distribution yield of 5.4 per cent, to be paid in equal quarterly instalments.
“Strong tailwinds across the industrial sector continued to drive rental growth throughout the first quarter of FY24. This sustained tenant demand, coupled with limited supply, has seen the company’s re-leasing spreads accelerate to new highs of almost 50 per cent above prior passing rents,” said Jesse Curtis, the company’s fund manager.