Dexus is a high-quality company, but soft tenant demand and increasing new supply are risks.
We attended the investor day held by narrow moat-rated Dexus Property Group in Sydney on 25 October, with the key takeaway being the further strengthening Sydney office market. It is a strong positive, first, because 60% of Dexus’ office portfolio is aligned to Sydney. We have upgraded our medium-term assumptions around reletting, resulting in an increase in our fair value estimate to AUD 8.80 per security from AUD 8.40 per security. The positive Sydney conditions are already captured in the sha...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.
We have operations in 27 countries.
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