DXS +1.12%: One of our contrarian ‘income’ calls has been around property – and the deep value that’s on offer in a sector that is priced for some fairly dire outcomes, with Office front and centre. The call is yet to really work however the sector is starting to (tentatively) move higher. No new company specific news on DXS today, however the stock is starting to edge higher. We own from ~$8.02 and have picked up 1 dividend – a frustrating position to date but better times ahead we suspect – looks good technically.
MM is bullish & long DXS in the Income Portfolio
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