Dexus’ Cashflow to Grow Solidly in Fiscal 2018, but Coming Office Supply Will Weigh on Rents
Narrow moat-rated Dexus Property Group’s fiscal 2017 funds from operations, or FFO, were consistent with expectations, rising 4.2% for the year to AUD 58.9 cents per security, or cps. Our fair value estimate remains at AUD 9.10, with the stock screening as overvalued, currently trading around AUD 9.80. Dexus is particularly well positioned to benefit from the upward pressure on office rents in the Sydney and Melbourne markets over the coming few years.We believe our below-market valuation refle...
Dexus Property Group owns, manages and develops real estate assets and manages real estate funds on behalf of third party investors. Co.'s operating segments include: office, which comprises domestic office space with any associated retail space, as well as car parks and office developments; industrial, which comprises domestic industrial properties, industrial estates and industrial developments; property management, which comprises property management services for third party clients and owned assets; funds management, which comprises funds management of third party client assets; development and trading, which involves its development and inventory: and all other segments.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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