The Centuria Capital (ASX:CNI) share price reaches new all-time high

Centuria’s big month has kept the market’s interest, and its share price has reaped the rewards.
The post The Centuria Capital (ASX:CNI) share price reaches new all-time high appeared first on The Motley Fool Australia. –

Shares in Centuria Capital Group (ASX: CNI) are gaining today. In fact – they’ve reached a new all-time high. Right now, the Centuria share price is $2.97, which is 2.77% higher than its previous close.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is 0.03% higher today, while the All Ordinaries Index (ASX: XAO) has lost 0.01%.

The Centuria share price has also gained an impressive 8% over the last 5 trading days, and 10% over the last 30 days.

Let’s take a look at what Centuria has been up to over the past month.

The month that’s been for Centuria

Primewest takeover

Possibly the biggest news out of Centuria this year has been its takeover of fellow ASX-listed real estate funds management company Primewest.

Centuria announced its plans to takeover Primewest in April. Last month, Centuria told the market it must acquire all outstanding shares in Primewest, as its interest in the company had exceeded 90%.

Primewest officially delisted on 29 June.

The takeover saw Centuria paying $1.51 per share of Primewest. Each lot of $1.51 was made up of 20 cents cash and 0.473 Centuria securities.

Following the takeover, the value of Centuria’s assets under management has increased by 90% to $16.8 billion.

That makes it the fourth largest real estate fund manager on the ASX.

Unlisted capital raise

On 10 June, Centuria announced the company’s unlisted Centuria Government Income Property Fund (CGIPF) was to undertake a $133 million capital raise.

The capital raise was the largest unlisted single asset capital raise that Australia had seen in 15 years.

The cash was to go towards purchasing a high rise building in Melbourne’s Footscray.

The 14-storey office building was to cost the fund $224 million.

Centuria share price snapshot

2021 has been a ripper year for the Centuria share price.

So far, its gained more than 14% year to date. It is also 68% higher than it was this time last year.

The company has a market capitalisation of around $2.2 billion, with approximately 784 million shares outstanding.

The post The Centuria Capital (ASX:CNI) share price reaches new all-time high appeared first on The Motley Fool Australia.

Should you invest $1,000 in Centuria Capital right now?

Before you consider Centuria Capital, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Centuria Capital wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

ASX energy shares in hotseat as OPEC+ struggles to contain crisis

Here are the 5 best performing ASX 200 tech shares from FY21

These ASX shares are the latest to be hit by broker downgrades

ASX 200 up 0.1%: Sydney Airport takeover, Tabcorp demerger, a2 Milk jumps

ASX 200 Weekly Wrap: ASX finishes FY21 on a high

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!