Vicinity Centres (ASX: VCX) see valuations fall
Stock
Vicinity Centres (ASX: VCX) $2.55 as at 24/01/2019
Event
Vicinity Centres published revaluations across their property portfolio noting a mixed bag in valuation changes resulting a small fall in value since June of 2018.
The owner & manager of over 100 shopping centres across urban & regional areas across Australia revalued 62 properties noting the significant declines in Neighbourhood & regional shopping centres were offset by a 7.2% rise in value of the company’s outlet DFO branded centres.
In total, the revaluations caused a 0.2% decline in the property portfolio, which leads to a small 1c fall in NTA down to $2.96.
VCX was trading down 2.3% at the time of writing, and the announcement also dragged other shopping centre names lower with Stockland (ASX: SGP) & Charter Hall (ASX: CQR) trading slightly in the red despite the broader property sector trading higher on the day.
Vicinity Centres (ASX: VCX) Chart
Market Matters Take/Outlook
