2359 GMT - Vicinity Centres' bear at Jefferies was impressed with the mall owner's 1H result. Vicinity beat the bank's expectations for funds from operations by 3%. Vicinity now expects funds from operations per security near the top end of its 15.0-15.2 Australian cents guidance range. Jefferies says that moves it in line with its own expectations. "Vicinity delivered a strong operational result for the half, with higher leasing spreads, improved tenant retention and strong sales performance supporting occupancy and leasing," analyst Andrew Dodds says. Jefferies had an underperform call and A$2.20/share price target on Vicinity heading into the 1H result. "We remain cautious on the outlook for discretionary retail, given consumer headwinds." Vicinity is down 1.8% at A$2.525.(david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

February 17, 2026 18:59 ET (23:59 GMT)

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