Winston’s Weekly: Contrasting performances from Charter Hall & Dexus
Winston Sammut, the Director Property of Euree Asset Management, gives his weekly take on the REITs sector.
Read MoreTag: DXS
Dexus crashes as office property slumps
Property manager and investor, Dexus (ASX:DXS), saw its shares suffer their worst day of trading in three years on Tuesday as the realities of the office property downturn caught up with the company.
Read MoreProperty giant Dexus grapples with substantial losses
Dexus (ASX:DXS), the prominent property giant, finds itself in the red once again, recording a loss exceeding half a billion dollars for the six months leading up to December. This adds to the substantial loss of over $700 million incurred during the financial year ending June 30, 2023.
Read MoreTough times ahead for Mirvac
The year 2023-24 is turning out to be quite challenging for property developer and investor Mirvac, as the company faced a loss for the period ending on June 30.
Read MoreLower returns expected for property investors
Dexus revealed that adjusted funds from operations witnessed a decline of over 3%, amounting to $555 million for the fiscal year ending on June 30.
Read MoreDo’s and Don’ts in real estate
The companies that present opportunities and pitfalls in the current real estate sector within Australia.
Read MoreReal estate gap causes concerns
20 Jul 2023 – Australia's largest landlords have recently downgraded the values of their office block portfolios, but investors are seeking deeper discounts amid a significant gap between public and private valuations.
Read MoreDexus lowers property book values by $1bn
21 Jun 2023 – In a significant development for the office and industrial property sector, Dexus, a prominent Australian real estate group, has announced a reduction in the book value of numerous properties.
Read MoreDexus cuts valuations: ASX 0.22% lower at noon
21 Jun 2023 – Office and industrial property group, Dexus (ASX:DXS), has reduced the book value of its office and industrial properties by approximately $1 billion (6% reduction) due to higher capitalization rates and discount rates as indicated by an independent expert’s report. Despite rental growth offsetting some impact, the office portfolio decreased by about 7.7%, while the industrial portfolio decreased by about 0.2% on prior book values.
Read MoreDexus (ASX:DXS) Releases Half-Yearly Result
Leading real estate investment trust Dexus (ASX: DXS) has today released results for the half year ended 31 December 2022.
Read MoreAMP – Dexus Deal Consummated at Last
AMP has sold its real estate and domestic infrastructure equity business to Dexus FM in a deal valued at about $250 million, and is still looking to offload other parts of its shrunken empire.
Read MoreDXS – Credit Suisse rates the stock as Outperform
Outperform rating retained. Target price rises to $11.48 from $11.26.
Read MoreTuesday Trade Talk: ANN, DXS
Tuesday saw personal protective group Ansell confirm weaker guidance given a couple of weeks ago, while the news from property trust Dexus mixed the good with the bad.
Read MoreDXS – Macquarie rates the stock as Outperform
Outperform retained, target rises to $11.93 from $11.90.
Read MoreDXS – Macquarie rates the stock as Outperform
Rating is upgraded to Outperform from Neutral and the target is raised to $11.67 from $11.11.
Read MoreStockland, Dexus Ready to Build on Solid First Half
More signs of recovery in the property sector from sector leaders Stockland and Dexus, with both companies confirming previous guidance on earnings and dividend payouts.
Read MoreAll Hands on Dexus
Dexus is continuing its recent hectic pace of deals and bids in the property sector as it builds diversity into its portfolio and away from CBD office buildings.
Read MoreDexus Lifts Guidance, Payout
Dexus has lifted its full-year guidance and now expects a 3% growth in distributions per security for the year to June instead of the previous guidance for flat outcome.
Read MoreDXS – Macquarie rates the stock as Outperform
Outperform retained with a target of $10.60.
Read MoreDexus Merger a Potential Fly in the Ares Ointment for AMP
Dexus yesterday finally revealed a proposal that could see AMP forced to alter or even abandon plans to sell a stake in AMP Capital to US investment group Ares.
Read MoreDexus Still Flailing in the Face of Property Weakness
Continued weakness in property values thanks to the pandemic have seen Dexus’ earnings more than halve in the half year to December.
Read MoreUpbeat Dexus Promises Distribution, Defies Bearish Outlook
Dexus, has seemingly shrugged off the impact of the pandemic with a series of new leases and a further push into funds management (which is aimed at offsetting over time the concentration on CBD office buildings) by selling off unwanted existing assets.
Read More“Limited Valuation Support”: Analysts Downgrade Dexus
Dexus Property Group share price fell yesterday as investors bailed out in the wake of analysts at Morgan Stanley downgrading the securities to an underweight rating from overweight.
Read MoreDXS – Citi rates the stock as Neutral
FY20 results were below Citi’s estimates. The FY20 distribution was revised up to 50.3c to be in line with free cash flow.
Read MoreDexus Hangs On To Distribution Despite Downgrade
In contrast to the gloomy news from Vicinity, the shopping mall operator, CBD owner, and manager, Dexus says it has a clear picture about the year to June and can provide guidance on its distribution for the year to June.
Read MoreDXS – Citi rates the stock as Downgrade to Neutral from Buy
Falling market rents have caused Citi to lower office income forecasts. While Sydney and Melbourne entered the pandemic restrictions in a strong position, with rents near historical highs and vacancies at their lows, economic conditions have deteriorated.
Read MoreOffice Assets Put Dexus In The Box Seat
Strong cash flow, positive leasing spreads and lower debt costs are delivering superior returns for Dexus Property, which is currently enjoying a robust outlook for office and industrial assets.
Read MoreDXS – UBS rates the stock as Buy
The company has marginally upgraded guidance at the first half result, which was broadly in line with expectations.
Read MoreIs Dexus A Buying Opportunity?
Real Estate Investment Trusts (REITs) have performed well during 2019. With some looking quite expensive here, Dexus (ASX:DXS) is a stock which not only looks to be reasonable value here, but has a trading profile that indicates further upside.
Read MoreDXS – Deutsche Bank rates the stock as Hold
Dexus management announced it has externally revalued 109 of its 114 assets, resulting in an estimated $250m valuation uplift, or a 1.6% increase to its December 2018 book value.
Read MoreNews Shorts: Bega, MinRes, Dexus
Bega Cheese was “dressed” to win yesterday, a burst of enthusiasm for Mineral Resources ran out of puff, while Securities in Dexus went into a trading halt on reports it was looking to raise around $1 billion.
Read MoreDXS – Macquarie rates the stock as Neutral
Dexus and DWPF have exercised their rights to acquire the remainder of MLC tower, taking ownership to 50% each.
Read MoreDXS – UBS rates the stock as Neutral
The company delivered first-half results that were ahead of expectations, largely because of a positive skew in trading profits.
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