Dexus’s Portfolio Of Assets Witnessed A Rise In Valuations: A Quick Look

Dexus Property Group

On December 14, 2018, Dexus (ASX: DXS) came forward and issued a press release which contains information related to the valuation about the assets. As per the press release which was issued by the company, the valuation (as at December 31, 2018) has been carried out for 108 assets of Dexus which consists of 62 industrial properties as well as 46 office properties. The independent valuations which have been carried out externally have figured out a rise of approximately 3.1% as compared to the prior book values for six months to December 31, 2018. The press release which was issued by the company also stated that the NTA or net tangible asset backing on the per security basis might witness a rise of 40 cents because of the independent valuations. The information related to the weighted average capitalization rate was also mentioned by the company.  [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]

The company stated that, throughout the entire portfolio, weighted average capitalization rate has witnessed a decline of 16 bps or basis points in the span of previous six months and stood at 5.36%. From June 30, 2018 to December 31, 2018, with regards to office portfolio, the weighted average capitalization rate has witnessed a decline of 15 bps to 5.22% from 5.37%. However, with regards to the industrial portfolio, from June 30, 2018 to December 31, 2018, the weighted average capitalization rate encountered a fall of 26 bps to 6.14% from 6.40%. As per the press release issued by the company, the MLC centre in the Sydney area witnessed a rise of $27.8 million due to higher levels of the market rents as well as because the fall of 12.5 bps was witnessed with respect to office tower component’s capitalization rate. The development activity which is about to complete at 100 Mount Street which is situated in the North Sydney encountered the rise of $33.1 million on the back of fall in the capitalization rate in the property by 12.5 bps as well as because of leasing activities.

However, the press release which was issued by Dexus also stated that the information regarding the valuations of the specific individual property would be seen when the company announces half-yearly result which is anticipated to be on February 6, 2019.

We will now have a look at the performance of Dexus. The stock price of Dexus managed to close the session on December 14, 2018 on the positive note and settled at A$11.090 per share. The stock price of the company witnessed the rise of A$0.110 per share or 1.002% on the intraday basis. However, the market capitalization of the company stood at $11.17 billion. The stock price of the company is trading towards the higher range, and the company has an annual dividend yield of 4.35%. From the past few months, the stock has been delivering positive returns. In the previous six and three months, the returns were 14.26% and 1.57%, respectively. However, in the past one month, the stock delivered 7.12% return.


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