Shares of Australia’s Centuria Industrial REIT (ASX:CIP) have fallen to A$3.102, down 1.27%, marking their lowest level since July 19th.

The industrial property investment company saw a net loss of A$76.6 million ($49.48 million) for the fiscal year, compared to last year’s profit of A$367.5 million.

Looking ahead, the company’s representatives noted that Australia still has one of the lowest industrial vacancy rates globally.

Centuria Industrial has also provided fiscal year 2024 FFO guidance of 17.0 AU cents per unit along with distribution guidance of 16.0 AU cents per unit.

Brokerage UBS noted that re-leasing spreads significantly increased in the second half of the year, up 37%.

Meanwhile, near-term expiry is minimal.

Despite a constrained supply, the demand from tenants remains strong.

This could potentially result in a prolonged period of rental growth for the company.

The company’s stock had risen by 0.64% this year, as of the last close.

Centuria Industrial is an Australian industrial property investment company.