Stocks of the Hour: Vicinity Centres, Ingenia Communities & Codan

Company News

by Lauren Evans

Vicinity Centres (ASX:VCX) reported on a challenging September quarter with no earnings guidance provided for FY22 following a significant impact in NSW and Victoria during lockdowns. Overall, the real estate investment trust said it has seen positive initial signs on reopening in both states. Shares in Vicinity Centres (ASX:VCX) are trading 2.4 per cent lower at $1.73.

Property giant Ingenia Communities (ASX:INA) has exchanged contracts to acquire the Victorian BIG4 Beacon Resort for $37 million. Settlement of the transaction is expected to occur at the end of November. Shares in Ingenia Communities (ASX:INA) are trading 1.9 per cent lower at $6.27.

Metal detection and mining technology company Codan (ASX:CDA) has appointed Alf Ianniello from Detmold as chief executive officer and managing director. Alf will start in January next year and replace Donald McGurk, who will retire at that time. Shares in Codan (ASX:CDA) are trading 0.3 per cent lower at $10.36.

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