Dexus Convenience Retail REIT (ASX:DXC) Portfolio Valuation Update
Valuation Results
Dexus Convenience Retail REIT (ASX:DXC) reports an estimated net valuation uplift of approximately $5.4 million for the six months ending 31 December 2024. This represents a 0.8% increase in book values after external valuations of 38 out of 91 assets. The uplift is estimated to raise the Net Tangible Asset (NTA) backing by around four cents per security.
Capitalisation Rate and Future Outlook
The weighted average capitalisation rate across the portfolio increased by six basis points to 6.41% during the same period. Jason Weate, DXC Fund Manager, stated, “The defensive nature of DXC’s portfolio has supported valuation outcomes, with embedded rental growth offsetting moderate capitalisation rate expansion.” He added that the valuation growth reflects a recovery in fuel and convenience transaction volumes, aligning with historical averages.
Upcoming Financial Reports
Further details on final valuations will be disclosed in DXC’s HY25 results, scheduled for release on 10 February 2025.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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