Morgan Stanley believes it would be premature to suggest downside risk for FY23 guidance after media reports that Centuria Industrial REIT's sixth largest tenant has gone into liquidation.

While Scott's Refrigerated Logistics contributes 3% to the REIT's total income, it's said rent payments are up to date and there are protections in place, including around nine months of bank guarantees.

The Equal-weight rating and $3.55 target are retained. Industry View: In-line.

Sector: Real Estate.

Target price is $3.55.Current Price is $3.20. Difference: $0.35 - (brackets indicate current price is over target). If CIP meets the Morgan Stanley target it will return approximately 10% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2023 Acquisdata Pty Ltd., source FN Arena