Dexus Convenience Retail REIT Reports Ongoing Daily On-Market Buy-Back Activity

The latest announcement is out from Dexus Convenience Retail REIT ( (AU:DXC) ).

Dexus Convenience Retail REIT has provided an updated notification to the ASX regarding its ongoing on-market buy-back of fully paid stapled securities under code DXC. The latest daily report shows a cumulative total of 1,829,017 securities repurchased before the previous day, with a further 20,344 units bought back on the prior trading day, reflecting continued execution of its capital management initiative.

The buy-back, which was initially notified in February 2022 and is subject to regular daily updates, indicates the REIT’s active approach to managing its capital structure and unit base. This ongoing reduction in securities on issue can signal confidence in the underlying asset portfolio and may have implications for remaining unitholders through potential earnings and net tangible asset accretion over time.

The most recent analyst rating on (AU:DXC) stock is a Hold with a A$2.50 price target. To see the full list of analyst forecasts on Dexus Convenience Retail REIT stock, see the AU:DXC Stock Forecast page.

More about Dexus Convenience Retail REIT

Dexus Convenience Retail REIT is a listed real estate investment trust focused on owning and managing convenience retail properties. Its portfolio typically comprises service station and convenience assets, providing investors exposure to daily needs retail and fuel-based income streams through stapled securities traded on the ASX under the code DXC.

Average Trading Volume: 197,056

Technical Sentiment Signal: Buy

Current Market Cap: A$365.7M

For an in-depth examination of DXC stock, go to TipRanks’ Overview page.