Vicinity Centres (VCX) - Research

$2.550 0.02 (0.78%)

VCX General Information +

ASX Code VCX
Website http://www.vicinity.com.au
GICS Sub-Industry Retail REITs
Market Cap ($M) 9,590
Current Price $2.550
Day High $2.600
Day Low $2.550
Last Close $2.570
Price Movement $0.02 ( 0.78% )
Prices as at 16:40, 20 Sep 2019
+Security prices are delayed by at least 20 minutes and are indicative only.

Recommendation


Vicinity Centres (VCX)
BUY
below
HOLD
up to
SELL
above
Current Price
$2.550 as at 16:40, 20 Sep 2019

Price at review
$2.550 on 12 Sep 19

Business Risk

Share Price Risk

VCX Related Research

VCX Company Overview

Business Description

Vicinity Centres (VCX, formerly Federation Centres) is a vertically integrated Australian Real Estate Trust specialising in the ownership and management of 110 Australian shopping centres. It provides a full suite of property services including property investment, retail development, property management, leasing and fund administration. As at 31 December 2017, the Company has over $26.1bn in retail assets under management.

VCX Financial Summary

Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2021 F 713.99 18.89 4.90% 13.50 16.40 6.43% 0.0%
2020 F 680.73 18.01 0.30% 14.16 16.70 6.55% 0.0%
2019 A 689.30 17.96 -1.10% 14.60 15.90 6.07% 0.0%

VCX Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2019 A 2020 F 2021 F 2019 A 2020 F 2021 F 2019 A 2020 F 2021 F
BWP Trust (BWP) $2,492M -0.1188 0.2142 0.0213 24.4486 20.1349 19.7154 5.07% 4.84% 4.86%
Scentre (SCG) $21,002M 0.1349 0.0097 0.0300 15.9660 15.8127 15.3517 5.61% 5.72% 5.89%
Shopping Centres Australasia Property (SCP) $2,404M 0.2807 -0.0318 0.0155 14.9219 15.4122 15.1765 5.70% 5.85% 5.98%
Unibail-Rodamco-Westfield (URW) $3,334M 0.0000 3.7088 0.0179 53.8223 11.4279 11.2272 4.19% 7.93% 8.07%
Vicinity Centres (VCX) $9,666M -0.0740 0.1559 0.0329 16.5593 14.3255 13.8694 6.19% 6.24% 6.27%

VCX Market Comparison

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.54 15.90 0.83 1.71
Market 0.64 17.80 1.26 1.32
Sector 0.71 18.10 1.09 1.24

VCX Directors

Name Position Start Date
Mr Grant Lewis Kelley Chief Executive Officer, Managing Director 1 Jan 2018
Mr Trevor Gerber Non-Executive Director 11 Jun 2015
Mr Timothy (Tim) Edward Douglas Hammon Non-Executive Director 15 Dec 2011
Ms Janette A Kendall Non-Executive Director 1 Dec 2017
Mr Clive Robert Appleton Non-Executive Director 1 Sep 2018
Mr David Mark Thurin Non-Executive Director 11 Jun 2015
Ms Wai Foon Tang Non-Executive Director 30 May 2014
Ms Karen Lee Collett Penrose Non-Executive Director 11 Jun 2015
Mr Peter Algernon Franc Hay Non-Executive Director, Non-Executive Chairman 11 Jun 2015
Mr Peter Kahan Non-Executive Director, Non-Executive Chairman 11 Jun 2015

VCX Management

Name Position
Carolyn Reynolds Company Secretary
Rohan Abeyewardene Company Secretary

VCX Substantial Shareholders

Holding Name
682,861,296 (17.64%) The Gendel Group Pty Ltd and its associates
326,513,518 (8.51%) The Vanguard Group Inc.
269,126,539 (7.08%) BNP Paribas Nominees Pty Ltd
268,556,599 (6.94%) BlackRock Group
234,217,711 (6.11%) State Street Corporation and subsidiaries

VCX Calendar of Events

Date Event
12 August 2020 Report (Annual)
12 August 2020 Report (Prelim)
12 August 2020 Report (Interim)
14 February 2020 Report (Interim)

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