Weaker Malls and Geographies Neutralises Vicinity’s Better Assets.
Vicinity’s sales performance weakened during the quarter-ending September, with trailing 12 month specialty sales down 0.4% indicating a significant slowdown on the 0.5% growth for the 12 months to June 2017. Sales across all tenant types remained sluggish, with comparable sales up a meagre 0.2% in the year to September, weighed down by a 3.7% decline in department store sales. This begs the question, can rents across the portfolio rebound and grow annually by 3%-5% as in the past? We think not,...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.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.