Australia's Vicinity Centres rises as HY funds from ops beat analyst view

Vicinity Centres

15/02/2023 03:46

** Shares of Vicinity Centres  VCX.AX  rise as much as 4% to
A$2.09, on track for their best day since Nov. 24, 2022
    ** Stock sees fourth consecutive session of gains
    ** Retail investment firm says HY funds from operations
(FFO) is A$357.1 mln ($247.93 mln)
    ** Posts HY net profit from ordinary activities after tax
attributable of A$176.3 mln vs A$650.2 mln 
    ** Jefferies says co's HY FFO was a 24.1% beat to its
estimate
    ** Brokerage says interim distribution of 5.75 AU cents per
security was 5.5% ahead of its estimate
    ** It, however, cuts price target on the stock by 4% to
A$1.92, retains "hold" rating 
    ** Stock hits highest since Feb. 6
    ** One of thirteen analysts rate the stock "buy", eight
"hold" and four "sell"; their median PT is A$2.0 – Refinitiv
data
($1 = 1.4403 Australian dollars)
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))