Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi Team With DXS now trading at lowest levels in years, is this a compelling buy (or top up) or just catching falling knife? Dividend is becoming more attractive by the day. Interested in MM's thoughts on this one. Many thanks Alex
Hi Alex,
Dexus like much of the property sector is struggling through 2023 as interest rates rise and investors question portfolio valuations. DXS is currently trading around 8-year lows which is painful for investors holding the stock such as ourselves, fortunately we went long in December hence it could be much, much worse.
We do believe the stock is representing value ~$6.50 but as sector weakness persists its unlikely we will increase our exposure until we see a catalyst to lift the stock/sector – note, we rarely average positions unless it was previously in our plan to accumulate into weakness preferring to either cut or hold.
It’s also important to note the departure of CEO Darren Steinberg, set to leave after 11 years at the top of the property business. His replacement will have a lot of work on their hands given the backdrop of the property market while the company is still working through the integration of the AMP acquisition.
Take a free trial.
No payment details required.
Forgot password? Request a One Time Password or reset your password
One Time Password
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
A link to create a new password will be sent to the email address you have registered to your account.
Hi, this is only available to members. Join today and access the latest views on the latest developments from a professional money manager.
Our Smart Phone App will give you access to much of our content and notifications. Download for free today.
