VCX – Credit Suisse rates the stock as Neutral

Promted by the declaration of a second half dividend of 6.6 cents, Credit Suisse increases forecast FY21-FY23 DPS by 5.5-5.6% to reflect a higher assumed payout ratio.

Management indicated the payout was towards the lower end of its 95-100% adjusted funds from operations (AFFO) payout policy. As a result, the broker assumes a dividend payout to 95% of estimated AFFO over the forecast period.

The analysts underlying earnings estimates are unchanged and the Neutral rating and $1.69 target are unchanged.

Sector: Real Estate.


Target price is $1.69.Current Price is $1.64. Difference: $0.05 – (brackets indicate current price is over target). If VCX meets the Credit Suisse target it will return approximately 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).



About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →