0056 GMT - The case for investing in Australian REITs continues to improve, Morgans says. Lower interest rates are providing a tailwind. Also, the supply outlook is benign as construction costs rarely justify additional new developments at current rents, analyst Liam Schofield says. "The positive spread (between debt costs and cap rates), along with a supportive macro, is driving investor interest," Morgans says. "This resurgent demand underpins net tangible assets, whilst earnings growth generally supports distribution growth." Morgans raises its price target on Centuria Industrial REIT by 15% to A$3.75/share and HMC Capital by 16% to A$4.85/share, among other changes. Today, Centuria Industrial REIT is unchanged at A$3.35 and HMC Capital is up 1.4% at A$3.58. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

September 09, 2025 20:56 ET (00:56 GMT)

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