Dexus Retail REIT Reports Solid Financial Resilience

Dexus Convenience Retail REIT (AU:DXC) has released an update.

Dexus Convenience Retail REIT (DXC) maintained strong financial performance with FY24 Funds From Operations and distributions at 21.0 cents per security, signaling steady income resilience and capital management. The company successfully navigated a challenging interest rate environment, achieving a net property income growth of 2.8% and a prudent gearing level of 32.9%, while actively managing its debt portfolio with significant hedging against rising rates. DXC also continues to optimize its asset portfolio through strategic divestments and targeted redevelopment projects, such as the Glass House Mountains, promising enhanced returns and tenant diversification.

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