Vicinity Centres

VCX: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$8.84	Hjf	Cfgtfpt

Vicinity Centres Sells Two Assets; FVE Unchanged.

Johannes Faul

Nov 6, 2019

Narrow-moat-rated Vicinity Centres announced it will dispose of two assets and use the proceeds to pay down debt. The immediate effect is a minor reduction in funds from operations, or FFO, guidance for fiscal 2020, as the assets sold were substantially higher yielding than the interest on the debt being paid down. Management had announced in August 2019 that further asset sales would be suspended given unattractive pricing for retail assets and a crowded divestment market.

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