Morningstar favours Australia's Vicinity Centres' improving portfolio

Vicinity Centres

29/10/2024 18:17

** Analysts at Morningstar favour Vicinity Centres'  VCX.AX 
focus on improving portfolio quality in recent years
    ** Brokerage maintains fair value estimate of A$2.15
    ** Morningstar of the view that the commercial real estate
manager's "high-quality" assets are likely to remain
sought-after by tenants even if retail sales growth remains weak
    ** We continue to forecast fiscal 2025 funds from operations
of 14.6 Australian cents per security (cps), around the middle
of reaffirmed guidance of 14.5 Australian cps-14.8 Australian
cps - brokerage
    ** Stock up 6.4% this year, as of last close

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))