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Property Stocks Down Under 23 March 2022: Dexus Industria REIT (ASX:DXI)
Dexus Industria REIT: Has any REIT been on a bigger shopping spree?
Most investors would know Dexus (ASX:DXS) on account of its office assets but it also invests in industrial properties, some under its own wing but other sit in the Dexus Industria REIT (ASX: DXI). DXI is one of the few REITS exposed to the eCommerce space as well as one of the few to engage in M&A activity with its peers last year. It acquired APN Industrial REIT in a deal that took its portfolio from 39 assets worth $1.1bn to 93 assets worth $1.8bn. Despite the deal, its shares are only up 17% in the last 12 months indicating investors aren’t placing as much value on the recent acquisitions.
Click here to read the previous edition of Emerging Stocks Down Under published 16 March 2022.
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