Viva has successfully acquired two properties following due diligence and the other $45m of acquisitions announced back in June have now settled. It is Viva’s intention to grow through acquisition, the broker notes.
The broker thus expects more of the same and highlights a robust acquisition pipeline. A plan to refinance debt is also underway. Buy and $2.72 target retained.
Sector: Real Estate.
Target price is $2.72.Current Price is $2.14. Difference: $0.58 – (brackets indicate current price is over target). If VVR meets the Deutsche Bank target it will return approximately 21% (excluding dividends, fees and charges – negative figures indicate an expected loss).