2356 GMT - Barrenjoey continues to see an improved outlook for Australian REITs as it digests results from the sector last month. Analyst Ben Brayshaw expects a return to operating EPS growth and rising dividends in FY 2026 of 4.5%-5.0%. Trends were consistent this season with a pick-up in retail trading conditions and continued pricing power for retail-exposed REITs, Barrenjoey says. Sentiment toward offices improved, underpinned by pressure to work from home less, high replacement costs, and limited supply. Residential markets "remain challenged with conversion rates low and Victoria weak, but land price growth continued in Queensland and Western Australia, supply chains eased and construction cost inflation declined," says Barrenjoey. These are all positive for margins, it contends. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 10, 2025 19:56 ET (23:56 GMT)
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