Australia's Dexus Industria REIT gains on sticking to full-year forecast

Dexus Industria REIT

07/02/2024 03:03

** Shares of Dexus Industria REIT  DXI.AX  rise as much as
5% to A$2.920, highest level since late May 2023
    ** DXI marks its biggest intraday pct jump since
mid-September last year
    ** DXI, which mainly invests in industrial warehouses,
reiterates its FY24 funds from operations (FFO) and distribution
expectations
    ** This despite swinging to a H1 net loss vs a year ago,
hurt by valuation losses on investment properties
    ** Adds it expects portfolio like-for-like income's strong
growth to be maintained in FY24
    ** DXI trading 4% higher as of 0236 GMT; was flat so far
this year, as of last close, after a 4% decline in 2023

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))