Vicinity targets “fortress-style” assets amid strong FY25 Q1 results
Vicinity Centres, at its AGM today, highlighted its strategic portfolio enhancements, robust occupancy levels and positive leasing metrics.
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Do’s and Don’ts in real estate
The companies that present opportunities and pitfalls in the current real estate sector within Australia.
Read MoreCorporate Chatter: TWE, COH, VCX
A veritable plethora of earnings reports through the ASX today, from which we have sifted those by Treasury Wine Estates, Cochlear and Vicinity Centres for your consideration.
Read MoreBridge Street Bites: PGH, VCX, DOW
Another full news day on the ASX with the reporting season picking up steam. Here’s the latest from some local industrial companies: Pact Group, Vicinity Centres and Downer EDI.
Read MoreVCX – Credit Suisse rates the stock as Neutral
The Neutral rating and target price of $1.97 are retained.
Read MoreMall Owner Still in the Vicinity of Confident
Vicinity Centres, the country’s second biggest shopping mall group, has reaffirmed its confidence in the Australian consumer in its updated guidance for FY 2021-22.
Read MoreProfit Briefs: COL, SUL, BAP, VCX
With peak reporting season upon us, here are snippets from the results announced yesterday by some local retailers: Coles, Super Retail Group, Bapcor and mall owner-operator Vicinity Centres.
Read MoreVCX – Credit Suisse rates the stock as Neutral
The analysts underlying earnings estimates are unchanged and the Neutral rating and $1.69 target are unchanged.
Read MoreVCX – Macquarie rates the stock as Upgrade to Outperform
Macquarie assesses current pricing provides an opportunity and upgrades to Outperform from Neutral. Target edges down to $1.64 from $1.65.
Read MoreSales Rebound Can’t Fully Offset Reduced Traffic for Vicinity
Despite the solid rebound in retail sales, the continuing shortfall in the numbers of shoppers, tourists and CBD office workers has seen Vicinity Centres knock another half a billion dollars off the value of its centres.
Read MoreNot all real estate is the same
Diversification is important when investing in Australian real estate investment trusts (A-REITs). Different subsectors of the A-REIT market perform differently. This has been particularly borne out since March this year when COVID-19 hit.
Read MoreVicinity Centres Trims Writedown On Retail Pickup
A pick up in shopping activity in May and June has seen Vicinity Centres, the country’s second-largest shopping centre landlord, trim the final size of its already announced plan to write down the value of its shopping centres at June 30.
Read MoreVicinity Centres In $1.4b Raising As Retail Pain Hits Home
The strains in retailing caused by the COVID-19 pandemic slamming retail sales in April and May has seen Vicinity Centres, one of the biggest shopping mall operators in the country heading for a $2 billion-plus loss for the final six months of its June 30 financial year in what will be the start of a round of huge write-downs for the sector.
Read MoreDo Less Risky Stock Market Exposures Really Exist?
With a sense of raw panic descending on global stock markets, the question is whether there are any truly safe havens in terms of remaining exposed to equities?
Read MoreVicinity Centres Offloads More Malls
Shopping mall landlord Vicinity Centres has continued to get rid of unwanted shopping centres as it looks to polish its portfolio amid the continuing retail malaise.
Read MoreVCX – Credit Suisse rates the stock as Neutral
FY19 results were at the lower end of guidance and the outlook for FY20 is better than Credit Suisse expected as asset sales are no longer proceeding.
Read More“Challenging”: Vicinity Centres Confirm Retail Recession
The decision by shopping centre operator, Vicinity to flog off more of its malls isn’t surprising given the sale late last year of 11 malls had no real impact on its weak returns which plunged more than 70% in the year to June and saw it cut its final distribution.
Read MoreOffice Remains The Key Pick In A-REITs
The outlook for the A-REIT sector is relatively benign, as brokers note portfolio fundamentals are healthy and gearing is generally low.
Read MoreRestructuring Vicinity To Setup New Fund With Keppel
Shopping centre group, Vicinity will get rid of another $1 billion of marginal Australian shopping malls to a joint venture it is setting up with Singapore investor, Keppel Capital to manage a new wholesale property fund – Vicinity Keppel Australia Retail Fund (VKF).
Read MoreVicinity Flags Shopping Centre Sales
Even though retail sales rose 0.4% in April which was a little stronger than expected, retail property investment trust Vicinity Centres Re is going ahead with plans to sell around $1 billion of its underperforming businesses.
Read MoreVicinity Flags Portfolio Shake-Up
Securities in Vicinity Centres (VCX) (the recently merged Federation and Novion shopping centre group) were left unmoved by the group’s update yesterday which revealed plans to recycle up to $1 billion in surplus assets in the next year or so.
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