Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James and team, I’m on the road so need to keep communication brief. Would appreciate your views on DBI, the reasons for the sharp drops over the last few days and whether this sell off might continue. Thank you for your valuable insights as always Adel
Hi Adel,
DBI has extended its recent pullback to ~12% this week following its 2H result which overall was solid:
However, earnings per security (EPS) came in at 8.7c, a healthy lift on the 7.4c delivered a year ago but just shy of the street’s 9c expectation. Looking further ahead, DBI guided to distribution growth of 6.5%, underpinned by rising revenue and flat cost growth.
The pullback towards $4.40 feels overdone and an ideal buying opportunity to us, especially for income with the stock forecast to yield 5.5% part-franked over the coming 12-months just when the RBA are expected to cut interest rates.
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