Results for HY21 out on Thursday 4th of Feb, next week as you...

Results for HY21 out on Thursday 4th of Feb, next week as you say

https://centuria.com.au/office-reit/investor-centre/

They should provide guidance going forward; did so last year.

Bought more today. What I am not buying is this whole death of the office and everyone working from home narrative that the media is spinning.

What I do know, is that despite the pandemic, they did not do a CR, they collected >90% of rent due (up to 96% at last update), cost of debt is 2.2% and gearing is around 35%. NTA hasn’t suffered much, though I do take valuations with a grain of salt given similar properties out there are limited to provide a comparison. The current, and predicted going forward, rise in house prices should be a tailwind one would think though, and rent tends to be negotiated on NTA rather than the SP.

Sure, the rents may soften a little going forward for a while, and therefore so would the dividend paid out, and the SP may drift lower. These are the risks we are being compensated for at 8.5% pa at current SP, paid quarterly in cash.

As an income stock, particularly given how low current official interest rates are, I like it and will be adding more if it continues to show weakness.