Australia's Vicinity Centres at more than 7-month peak on strong FFO outlook

Vicinity Centres

06/05/2025 01:41

** Vicinity Centres VCX.AX rises as much as 2.1% to A$2.410, highest since September 20, 2024

** Property co expects FY25 funds from operations (FFO) per security to be around top end of 14.5-14.8 Au cents guidance

** Sees adjusted FFO to be at top end of 12.3-12.6 Au cents guidance

** Citi says strong operational update, with leasing spreads up 3.5%, indicates continued landlord negotiating power

** Leasing spreads refer to the difference in rent between new leases and expiring leases

** Brokerage maintains "neutral" at PT of A$2.40

** VCX gains 12.4% this year, as of last close

 (Reporting by Roshan Thomas in Bengaluru)

 ((Roshan.Thomas@thomsonreuters.com))