Vicinity is a conservative, well-diversified Australian retail REIT with upside from redevelopment.
Narrow-moat-rated Vicinity Centres' fiscal 2018 earnings on a funds from operations, or FFO, basis of AUD 18.2 cents per security, or cps, were in line with guidance. Our fair value estimate increases 5% to AUD 2.85 from AUD 2.70 as we raise long-term rental growth projects as a further AUD 1.9 billion of lower growth assets are planned to be sold over the year to June 2019. This is a very significant sales program, representing 11.5% of the portfolio by value. Gearing will fall materially from ...Vicinity Centres is engaged in property investment, property management, property development, leasing and funds management.Co.'s operating segments include: Property Investment, which is involved in investment in retail property; and Strategic Partnerships, which is involved in property management, development, leasing and management of wholesale property funds. Co.'s portfolio is comprised of Australian retail assets. As of June 30 2016, Co. had 91 retail assets under management. Co. had an ownership interest in 81 of these assets.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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