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.

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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.

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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.

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