VCX - Vicinity Centres

[System]

Centro Retail Australia Shares Begin Trading on ASX After Restructure Deal
By Sarah McDonald - Dec 5, 2011 3:41 PM GMT+1000

Centro Retail Australia shares began trading today after Centro Properties Group (CNP) shareholders and lenders agreed to a plan to wipe out A$2.9 billion ($3 billion) of debt, allowing the creation of the new entity.

More: http://www.bloomberg.com/news/2011-...egin-trading-in-sydney-after-restructure.html

For all previous discussion, please refer to the CNP thread: https://www.aussiestockforums.com/forums/showthread.php?t=5134

 

[PinguPingu]

Re: CRF - Centro Retail Australia

All time high today, but still seems to be stuck in closing auction

 

[skc]

Re: CRF - Centro Retail Australia

All time high today, but still seems to be stuck in closing auction

They released an announcement late in the day so they missed the closing auction.

Will resume tomorrow as per usual.

 

[System]

Re: CRF - Centro Retail Australia

On January 25, 2013, Centro Retail Australia (CRF) changed its name to Federation Centres (FDC).

 

[VSntchr]

Re: FDC - Federation Centres

Wow - the market really has an issue with the new CEO. Or perhaps the uncertainty around why the sudden change up is causing the sell down. Second day of selling now down to $2.77 from $3.00.

 

[skc]

Re: FDC - Federation Centres

Wow - the market really has an issue with the new CEO. Or perhaps the uncertainty around why the sudden change up is causing the sell down. Second day of selling now down to $2.77 from $3.00.

It's all very odd isn't it.

Or may be they don't like the stupid new name "Vicinity Centres".

Or may be this from 17 June is coming back to fore.

The future Federation Centres distribution policy is under review and will be advised to the market at the time of the 2015 Full Year results announcement.

Or may be the market is just being wrong as it always is.

 

[VSntchr]

Re: FDC - Federation Centres

It's all very odd isn't it.

Or may be they don't like the stupid new name "Vicinity Centres".

Or may be this from 17 June is coming back to fore.



Or may be the market is just being wrong as it always is.

Or maybe they got a whiff they I had a pair on with ABP. Was my last pair before reporting season...always nice to end on a huge loss

 

[skc]

Re: FDC - Federation Centres

Or maybe they got a whiff they I had a pair on with ABP. Was my last pair before reporting season...always nice to end on a huge loss

That's tough. Almost as bad as a REIT takeover loss! Not sure what drug ABP is on today. I have a small short at current price but it feels like one of those broker upgrade moves.

 

[VSntchr]

Re: FDC - Federation Centres

That's tough. Almost as bad as a REIT takeover loss! Not sure what drug ABP is on today. I have a small short at current price but it feels like one of those broker upgrade moves.

Yeah I agree.
Perhaps Credit Suisse (who put the note out on FDC today) are shuffling over.

The ascent has been capped at resistance so not a bad R:R short here...also FDC appears to have some strong depth support at 280-281 for the last couple of hours. Regardless, the damage has been done.

 

[nulla nulla]

Re: FDC - Federation Centres

I got on at $2.77 for my super and $2.81 for the personal portfolio. I'll ride this whether it dips further or recovers from here, target price around $3.01.

It is the same infrastructure as was promoted as the basis of the take-over/merger with Novion only now the CEO will be from Novion and not Federation Centres. I can't remember how the new FDC board was to be made up following the merger but it is starting to look like a reverse take over and now the shake-out of old FDC management has started.

Turnover has been fairly solid with a lot of support around the $2.80 mark.

 

[SilverRanger]

Re: FDC - Federation Centres

Or maybe they got a whiff they I had a pair on with ABP. Was my last pair before reporting season...always nice to end on a huge loss

FDC/ABP! Ouch that's probably the unluckiest REIT combo of the year! I too was too naive to think there was no big deal (in fact logical) in having the bigger firm's CEO running the merged company, and decided to hold on and see what happens, big mistake!

 

[System]

On November 2nd, 2015, Federation Centres (FDC) changed its name and ASX code to Vicinity Centres (VCX).

 

[nulla nulla]

Todays announcement, in respect of Human Resources Management changes, could be seen as indicative of the new board and CEO consolidating their grip on the control of the new merged company and the direction in which it is likely to go.

It is like watching the structure and management of the old CFX versus the structure and management of the old FDC and who is going to come out in control as against who thought they were going to come out in control.

To me it looks like CFX (NVN) has merged with and taken over FDC (even though the merger/acquisition originated with FDC). Given their respective track records (debt gearing levels, etc), this may not be such a bad thing.

Disclaimer: I have bought back into VCX today at $2.84.

 

[nulla nulla]

There hasn't been a lot of recent activity in this thread so I though it may be worthwhile throwing up a long term chart as well as a table comparing the share information over the past three or so years.

Disclaimer: The table information is taken from the A-REIT Tables posted previously. Accordingly if there were any errors in those tables then they have been repeated in this table.

 

[eskys]

VCX ex dividend yesterday, went down to 1.757. Now trading at 1.82, up 5 cents.

Real estate down in the sectors chart last night....SGP up as well...hard to work the market out.

REAL ESTATE

224.9

-1.99

-0.88

223.1

226.45

 

[eskys]

Why isn't this one coming down? I've been waiting for the cows to come home but....

I thought with high interest rates, it isn't going to be good for Reits. Are they holding waiting for some unsuspecting prey? (note the plural, 'they')

 

[rcw1]

Good evening
No posts since 25 August 2023.
Tagged this one, ... for mine, watching closely. Kindly conduct your own due diligence and have a pleasant night.

Dividend

Latest news
Property investor Realside has struck a deal to buy Maddington Central, a shopping centre located 17 kilometres from Perth’s central business district, from listed landlord Vicinity Centres for $107 million. Now, it’s seeking equity backers to come in on the investment.

Street Talk understands potential investors have been told Realside has secured the investment in an off-market trade at a small premium to the $97 million book value. However, the acquisition price is a 40 per cent-plus discount to the land and replacement value, while also being lower than Vicinity’s $122 million peak valuation for the asset (14/04/24 AFR).

 

[Rosscoe62]

The REITs are now coming into play with money starting to roll into a lot of these. The 18.6 year property/share cycle discussed under Skate’s thread is now evolving predictably.

One, that I’m holding is VCX.

It’s not a ‘blow the lights out’ type stock like ZIP (held) which is rapidly growing by the minute however VCX is showing lovely momentum at a steady pace, particularly since July.

The REITs typically perform very well in the later stages of the cycle described previously.

They tend to gather pace under the right conditions.

Like CHC (discussed previously), this one should grind along nicely in months to come and outperform.

 

[rcw1]

The REITs are now coming into play with money starting to roll into a lot of these. The 18.6 year property/share cycle discussed under Skate’s thread is now evolving predictably.

One, that I’m holding is VCX.

It’s not a ‘blow the lights out’ type stock like ZIP (held) which is rapidly growing by the minute however VCX is showing lovely momentum at a steady pace, particularly since July.

The REITs typically perform very well in the later stages of the cycle described previously.

They tend to gather pace under the right conditions.

Like CHC (discussed previously), this one should grind along nicely in months to come and outperform.

View attachment 184162

Some more gains and retrace ... back to resistance ...
Not holding
Daily

Hourly