Stockland, 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.
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Dexus
We own, manage and create high quality workplaces across the office, industrial, retail and healthcare sectors. Our spaces are located where our customers need to be, covering the central business districts of Sydney, Melbourne, Brisbane and Perth.
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News
All 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.
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Dexus 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.
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Dexus 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.
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Dexus 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.
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Analyst Views
DXS – Macquarie rates the stock as Outperform
Rating is upgraded to Outperform from Neutral and the target is raised to $11.67 from $11.11.
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DXS – Morgan Stanley rates the stock as Overweight
Overweight rating with a target of $11.70.
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DXS – Macquarie rates the stock as Outperform
Outperform retained with a target of $10.60.
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DXS – 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.
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DXS – 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.
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