DXS, TPG, SEK: How did these ASX 50 stocks perform today?

3 min read | May 10, 2022 06:57 PM AEST | By Bhawna Gupta

DXS, TPG, SEK: How did these ASX 50 stocks perform today? — Image source: © Skypixel | Megapixl.com

Highlights

Today, the S&P/ASX 50 Index closed 1.32% or 92.10 points lower at 6,868.70.

Shares of top 50 companies like TPG also closed in red today.

The S&P/ASX 50 Index is created using the S&P Dow Jones Indices market capitalisation weighted and float-adjusted techniques and is typically referred to as the 50 largest firms by market capitalisation.

Market capitalisation is used to rate all firms listed on the Australian Securities Exchange (ASX), but listed investment companies (LICs) and exchange-traded funds (ETFs) are not included. The top 50 ASX equities that meet volume and investment benchmarks are then eligible to be included in the index.

Today (10 May 2022), the S&P/ASX 50 Index closed 1.32% or 92.10 points lower at 6,868.70.

In this article, we will discuss three ASX 50 companies which are in real estate, media & entertainment, and telecommunications sectors.

Dexus (ASX:DXS)

ASX-listed property management group Dexus (ASX:DXS) primarily owns, manages and develops real estate assets and manages real estate funds on behalf of third-party investors.

Recently, the real estate investment company (3 May 2022) shared an update for the March quarter.

Dexus sold AU$2.1 billion worth of assets during the quarter as it continues to recycle funds into higher-yielding possibilities, such as the AU$17.8 billion development pipeline.

Tenant departures at business park assets caused Dexus' industrial portfolio occupancy by income to drop to 97.5% from 98.6% (31 December 2021). With the exception of business parks, occupancy by income was 98.8% (from 99.2% at HY22).

Dexus' shares last traded at AU$10.61 each, down 1.30% on ASX today (10 May 2022).

Also Read: Dexus (ASX:DXS) lifts distribution guidance, shares gain

Source: © Embe2006 | Megapixl.com

TPG Telecom Limited (ASX:TPG)

Australian telecommunication service provider TPG Telecom Limited operates nationwide mobile and fixed networks. Its brands include TPG, iiNet, AAPT, Internode, Vodafone, Lebara and felix.

The company announced yesterday (May 9) that it had signed an agreement to sell its passive mobile tower and rooftop infrastructure (Tower Assets) to OMERS Infrastructure Management Inc for AU$950 million.

The transaction implies a 32.1 times enterprise value/EBITDA multiple, reflecting the important role the Tower Assets will play in supporting the industry's projected growth and densification requirements through 1,237 existing sites, mostly in key metropolitan areas and a committed build-to-suit development programme of 252 new sites.

TPG shares fell 1.40%, closed trading at AU$5.78 per share on ASX today.

Also Read: TPG Telecom (ASX:TPG) to sell its tower asset to repay bank debts

SEEK Limited (ASX:SEK)

SEEK Limited is an online employment marketplace. The company’s business specialises in online job postings and other associated services for employers and job seekers. It also makes investments in early-stage companies and technology in the human capital management industry, as well as in the distribution and delivery of higher education courses.

The business is divided into three segments: SEEK Asia Pacific & Americas (AP&A), SEEK Portfolio Investments, and Corporate Costs.

Shares of SEEK jumped 3.69% today (10 May 2022), and closed trading at AU$25.51 per share on ASX.

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