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Property Stocks Down Under 1 June 2022: Dexus (ASX:DXS)
Dexus: Your best bet in the office space
Since we began Property Stocks Down Under in February 2022, we’ve haven’t been too keen on REITs with exposure to office space and neither have investors. But Dexus (ASX: DXS), Australia’s biggest owner of office towers has been a standout performer, sitting over 25% ahead of its 2020 lows. And we think investors have been right to send the company’s share price higher. It owns an impressive portfolio of office assets along with a funds management business that includes two other ASX-listed REITs. And it’s about to boost its portfolio with a substantial development pipeline (including a majority stake in the Atlassian Tower) and the addition of Collimate Capital.
Click here to read the previous edition of Emerging Stocks Down Under published 25 May 2022.