0234 GMT - Dexus's office portfolio remains relatively high-quality despite the 3.2% fall in its valuation over the December half, Citi analysts say. They tell clients in a note that the revaluation of the Australian real-estate group's overall portfolio was broadly in line with expectations, with its office assets outperforming the broader market. However, they observe that office fundamentals and sentiment remain under pressure and probably need a catalyst to change the outlook and attract a broader range of investors. Citi has a neutral rating and A$7.30 target price on the stock, which is up 0.8% at A$6.745. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 17, 2024 21:35 ET (02:35 GMT)
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