Vicinity Centres Reports Solid Quarterly Growth

Vicinity Centres (AU:VCX) has released an update.

Vicinity Centres continues to demonstrate strong operating metrics with a 1.6% increase in portfolio retail sales and robust occupancy at 99.1%. The company is advancing its investment strategy with the acquisition of Chatswood Chase and the commencement of its major redevelopment, as well as the divestment of three other properties at a premium. Vicinity has reaffirmed its FY24 earnings guidance, targeting the higher end of its forecast range and a full-year distribution payout at the lower end of its 95-100% target range of AFFO.

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