Australia's Dexus Industria REIT drops on property devaluation

Dexus

19/06/2024 05:54

** Shares of Dexus Industria REIT  DXI.AX  fall as much as
3.6% to A$2.940
    ** Stock posts its biggest intraday drop since April 11
    ** The warehouse REI flags estimated net property
devaluation of A$30.7 mln ($20.5 mln) in six months to June 30
    ** Says devaluation represented a 2.2% decrease in book
values of its properties
    ** About 220,000 shares change hands, compared with the
30-day average volume of around 214,000
    ** Stock trims YTD gains to 6.5%, including session's moves

($1 = 1.5011 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))