Dexus March Quarter Office Portfolio Occupancy Rises Sequentially, Forms JV With Boral; Stock Down

Dexus reported that office occupancy by income rose sequentially in the March quarter and remained well above the market average, indicating continued strength in its office portfolio. Industrial occupancy declined versus the prior quarter, creating a mixed operating update. Overall the release suggests stable fundamentals with a modest positive tilt.

Analysis

Dexus reported that office occupancy by income rose sequentially in the March quarter and remained well above the market average, indicating continued strength in its office portfolio. Industrial occupancy declined versus the prior quarter, creating a mixed operating update. Overall the release suggests stable fundamentals with a modest positive tilt.