Dexus (DXS) falls with lower tenancy
FY21 Result: An inline full year result today however the quality was lower than expected i.e they benefitted more from lower interest & trading profits. Office occupancy slipped lower, down 0.20% to 95.2% from the Q3 which is obviously a negative trend. Guidance for dividend growth of 2% was as expected however it seems clear that the earnings outlook is a fairly muted one for the country’s largest office landlord. Shares are trading down 1.96% nearing the close.
MM are now more neutral DXS around $10.50
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