Centuria Metropolitan REIT
Centuria Metropolitan (CMA) listed in Dec-14, with the charter to invest in established suburban and fringe CBD office markets, and industrial properties. It acquired four properties subsequent to listing, allowing it to be at a more sustainable scale.
The REIT's property portfolio has good metrics, with occupancy at 96.7% and average lease expiry of 4.8 years. For FY16, CMA is forecasting underlying earnings of 17.9cps, and a distribution of 17.0cps. At the current security price of $2.02, this represents a yield of 8.4%.