Australia's Dexus dips; Morgan Stanley doubtful about co's airport stake

Dexus

19/05/2025 05:10

** Dexus DXS.AX slips 1.7% to A$7.11

** Last week, commercial property group said its funds platform could be forced to sell its 27% stake in Melbourne and Launceston airports due to allegations of confidentiality breach

** Morgan Stanley expresses doubt over airport stake; says equity interest reflects A$3.9 bln ($2.5 bln) of Dexus' total external assets under management

** Says situation is complex and comes after a separate court ruling said co would be forced to sell its managed fund's A$830 mln stake in Macquarie Park shopping centre

** Rates stock "under-weight" with PT of A$7.75

** YTD, DXS down 6.8%

($1 = A$1.5596)

 (Reporting by Rishav Chatterjee in Bengaluru)

 ((Rishav.Chatterjee@thomsonreuters.com;))