Dexus Convenience Retail REIT Posts Over AU$8 Million Valuation Uplift
Dexus Convenience Retail REIT (ASX:DXC) said 33 of its 91 assets were externally valued for the six months to June 30, resulting in an estimated net portfolio valuation uplift of about AU$8.1 million, or 1.1% above book value, according to a Friday filing with the Australian bourse.The weighted average capitalization rate across the portfolio remained stable at roughly 6.2% on a like-for-like basis, reflecting steady valuation conditions, per the filing.The real estate investment trust increased its on-market securities buyback target to 5% from 2.5% of securities on issue, citing progress under the original program and a valuation gap between listed securities and direct property assets, the filing added.The REIT's shares were up almost 2% in recent Friday trade.
