Dexus (ASX:DXS) reported a 2.1% decrease in the book value of 172 of its 176 assets to about AU$267.6 million for the six months to Dec. 31, according to a Wednesday filing with the Australian bourse.

The draft external independent valuations reflected the 3.2% decrease in the value of its 29 office properties driven by higher capitalization rates and discount rates, the filing said.

Dexus said final valuations will be confirmed, and specific property details will be included in its half-year results to be released on Feb. 18, 2025.

The real estate group's shares rose almost 1% in recent Wednesday trade.

Price (AUD): $6.74, Change: $+0.05, Percent Change: +0.82%