Centurion Accommodation REIT 1Q 2026: No Low Leverage Means No Sanctuary Left | 🦖EP1592
Centurion Accommodation REIT 1Q 2026: No Low Leverage Means No Sanctuary Left | 🦖EP1592
The market sees a clean 7.4% projected yield, but the balance sheet sees a REIT that nearly doubled its net debt in one quarter and is now leaning on master leases to keep the income line looking smooth. A 31% aggregate leverage ratio, S$659 million of net debt and a financing cost that quietly steps up from 3.57% to 3.79% once you include the real fees is not a small technicality, it is a fundamental shift in who carries the risk. My stance is simple: when a “low‑leverage sanctuary” REIT rewrites its capital structure this quickly, I treat the headline beat as a red flag, not a comfort blanket.
📺 YouTube: https://youtu.be/AIzU9lhZ6Ds
📩 Substack: https://investingiguana.com/p/careit-1q-2026-debt-hits-31-while
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