2320 GMT - Dexus has faced headwinds in its office portfolio for several periods and now challenges are emerging in logistics as well. "Logistics is slowing down in terms of occupancy, negative comparable growth and rising incentives," Jarden analyst Lou Pirenc says following Dexus's 1H result. That will add a new brake on earnings momentum, the bank says. Dexus's shares have risen some 16% since a low in January. "We believe the 11.2% discount to net tangible assets and 4.7% distribution yield will need stronger signs of an adjusted funds from operations recovery," says Jarden, which has a neutral call on Dexus. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 17, 2025 18:20 ET (23:20 GMT)
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