Vicinity Centres (VCX) - Research

$2.510
Prices as at 16:40, 18 Apr 2019

VCX Current Share Price+

Current Price $2.510
Open $2.520
High $2.530
Low $2.500
Last Close $2.510
Volume 8285126
Price Movement - ( No change )
  • +Security prices are delayed by at least 20 minutes and are indicative only.

VCX General Information

Vicinity Centres
VCX
http://www.vicinity.com.au
Retail REITs
9,616
3,800
Vicinity Centres
(VCX)
BUY
below
HOLD
up to
SELL
above
Current Price
$2.510 as at 16:40, 18 Apr 2019
Price at review
$2.510 on 25 Feb 19
Max Portfolio Weighting
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 (%)
2020 F 709.01 18.47 1.70% 13.59 15.80 6.29% 0.0%
2019 F 700.74 18.16 -0.10% 13.82 15.80 6.29% 0.0%
2018 A 708.70 18.17 1.00% 14.44 16.30 6.21% 0.0%

VCX Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2018 A 2019 F 2020 F 2018 A 2019 F 2020 F 2018 A 2019 F 2020 F
BWP Trust (BWP) $2,325M 0.0286 0.0639 0.0209 20.0999 18.8935 18.5072 4.92% 5.01% 5.12%
Scentre (SCG) $20,789M 0.1349 0.0319 0.0286 15.8044 15.3153 14.8896 5.67% 5.78% 5.89%
Shopping Centres Australasia Property (SCP) $2,360M -0.0872 0.2052 0.0270 18.8889 15.6730 15.2603 5.45% 5.76% 5.91%
Unibail-Rodamco-Westfield (URW) $3,988M 0.0000 3.7863 0.0522 63.1198 13.1852 12.5308 3.58% 6.88% 7.19%
Vicinity Centres (VCX) $9,575M -0.7191 0.0000 0.0000 15.0358 0.0000 0.0000 6.47% 0.00% 0.00%

VCX Market Comparison

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.28 15.00 0.80 0.00
Market 0.67 14.50 1.21 1.11
Sector 0.85 15.90 1.07 1.22

VCX Directors

Name Position Start Date
Mr Grant Lewis Kelley Chief Executive Officer, Managing Director 1 Jan 2018
Mr Peter Algernon Franc Hay Non-Executive Chairman, Non-Executive Director 11 Jun 2015
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 Kahan Non-Executive Director 11 Jun 2015

VCX Management

Name Position
Richard Jamieson Chief Financial Officer
Michael O'Brien Chief Investment Officer
Carolyn Reynolds Company Secretary
Jacqueline Jovanovski Company Secretary
Rohan Abeyewardene Company Secretary

VCX Substantial Shareholders

Holding Name
682,861,296 (17.64%) The Gendel Group Pty Ltd and its associates
344,450,895 (8.90%) BNP Paribas Nominees Pty Ltd
294,495,326 (7.61%) Vanguard Investments Australia Ltd
268,556,599 (6.94%) BlackRock Group

VCX Calendar of Events

Date Event
14 February 2020 Report (Interim)
14 August 2019 Report (Annual)
14 August 2019 Report (Prelim)

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