Stocks of the Hour: Suncorp, Centuria Capital & Auckland Airport

Company News

by Lauren Evans

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Suncorp’s (ASX:SUN) estimated natural hazard costs for the full year has increased to around $1.1 billion from $1.07 billion, following the flood recovery in Queensland and NSW. The company’s net retained loss from these events remains unchanged at $75 million. As of March 14, Suncorp had received more than 34,000 claims, with over 80 per cent of them related to home damage. Shares are trading 0.1 per cent lower at $11.02.

Centuria Capital (ASX:CNI) has announced a healthcare partnership through a joint venture sponsored by Morgan Stanley Real Estate Investing. It will be named the Centuria Prime Partnership, seeded with three healthcare real estate assets collectively worth $210 million, and will comprise a 90 per cent investment from Morgan Stanley and 10 per cent from Centuria. Shares are trading flat at $2.96.

Meanwhile, total passenger volumes at Auckland Airport (ASX:AIA) were 1.2 per cent lower in January compared to the prior year period, and were down 73 per cent compared to pre-Covid numbers in January 2019. In February, total passenger volumes decreased by 19.9 per cent compared to the prior year period, and were down 78.8 per cent compared to pre-Covid numbers in February 2019. Shares are trading are trading 0.9 per cent higher at $6.90.

 

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