Dexus Convenience Retail REIT Updates Daily On-Market Buy-Back Activity

Dexus Convenience Retail REIT ( (AU:DXC) ) has shared an announcement.

Dexus Convenience Retail REIT has provided an update on its ongoing on-market buy-back program for its fully paid stapled securities trading under the code DXC. The trust reported that it had repurchased a cumulative 1,723,660 securities before the previous trading day, and bought back a further 22,762 securities on the prior day as part of this capital management initiative.

The latest notification continues the series of daily disclosures first initiated in February 2022, signalling that the REIT is actively using buy-backs to manage its capital structure and unit base. This activity can support the trading price of its securities and may be viewed as a sign of management’s confidence in the underlying value of its convenience retail property portfolio, with implications for existing unitholders’ proportional ownership.

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 an Australian listed real estate investment trust focused on convenience retail properties. Its portfolio primarily consists of service station and convenience retail assets, providing investors with exposure to defensive, daily-needs retail income streams across Australia.

Average Trading Volume: 187,141

Technical Sentiment Signal: Buy

Current Market Cap: A$366.4M

For detailed information about DXC stock, go to TipRanks’ Stock Analysis page.