DXC - Dexus Convenient Retail REIT

[System]

Convenience Retail REIT will be a listed Australian Real Estate Investment Trust (REIT) that wholly owns an Initial Portfolio of 66 service station and convenience retail assets located across Australia with a skew towards the eastern seaboard, independently valued at $308 million. The Initial Portfolio is leased out to high-quality tenants on attractive, long-term leases. The objective of the REIT will be to provide investors with sustainable and stable income and the potential for both income and capital growth through annual rental increases.

It is anticipated that CRR will list on the ASX during July 2017.

http://crreit.com.au

 

[System]

On February 19th, 2019, Convenience Retail REIT (CRR) changed its name and ASX code to APN Convenience Retail REIT (AQR).

 

[System]

On October 5th, 2021, APN Convenience Retail REIT (AQR) changed its name and ASX code to Dexus Convenient Retail REIT (DXC).

 

[Logique2]

Required to comment, since DXC was chosen as one of my picks on the ASF Full 2024 Stock Tipping thread.

Sold down heavily in 2023, in background climate of tightening interest rates.
Good stable dividend.
Technicals poised for potential rebound in a stable or easing environment.

 

[Logique2]

Solid first month of the year, +5.5%.
12 month extension to the on-market buyback.
Reserve Bank getting political pressure about official Interest rate.
On track.

 

[debtfree]

Weekly Chart Update ....... seems to be going in the right direction now.

 

[Logique2]

A bounce off the October '23 lows, as with the parent DXS.
At a quick browse, it seems common across the domestic listed sector.

 

[Logique2]

30 March. $2.77. +9.4% YTD
Recovery on track.
AREITS trending in the right direction.
Interest rate environment as predicted, a softening bias.
There'll be distributions to holders at some point.
Losing no sleep over this one.

 

[Logique2]

28 April; $2.65; +4.7% YTD

Interim dividend payment date: 16 May; $0.053.
Not sure how the spreadsheet incorporates divids. One way would be to reduce the cost base, e.g.:
Current: 2.53 > 2.65 = +4.7% YTD
Adjusted: (2.53-.053) > 2.65 = +6.9% YTD, ex interim divid

 

[debtfree]

28 April; $2.65; +4.7% YTD

Interim dividend payment date: 16 May; $0.053.
Not sure how the spreadsheet incorporates divids. One way would be to reduce the cost base, e.g.:
Current: 2.53 > 2.65 = +4.7% YTD
Adjusted: (2.53-.053) > 2.65 = +6.9% YTD, ex interim divid

Dividends will be added at the end of the year for the Comp, so we can see the difference it makes to the overall profit. Thanks for the div payments it will save me a bit of time.

 

[Logique2]

23 May ; $2.72
Price trying to break up from the since-Feb down channel.
Depth is ok, and that's an attractive dividend rate.
Paid a dividend this month.

 

[Logique2]

$2.64, +4.3% YTD, which is alright given it's quouted as 7.9% dividend yield. Going sideways a bit, hostage to interest rate speculation. Unspectacular but solid.

 

[Logique2]

$2.84 ; +12.24% YTD (plus a dividend).
July has been a good month!

 

[Logique2]

$2.80 ; +10.67% YTD (plus a dividend)
A very good past six weeks for the AREITs sector generally, the market perhaps sensing a peak in the interest rate cycle, plus companies wanting workers back in the office.

 

[Gretsch]

$2.80 ; +10.67% YTD (plus a dividend)
A very good past six weeks for the AREITs sector generally, the market perhaps sensing a peak in the interest rate cycle, plus companies wanting workers back in the office.

Personally, I think REIT's have bottomed.

 

[divs4ever]

Personally, I think REIT's have bottomed.

i disagree , i think some niches have further to fall , offices and retail space in particular , but maybe residential apartments as well as some cities become 'unlivable '

other niches seem to have a different trajectory

 

[Logique2]

1 year and 20 year, ASX200, A-REIT index charts, per
Market Index: https://www.marketindex.com.au/asx/xpj

 

[Logique2]

General commentary, in context just using DXC as a proxy for the sector generally:

Source: https://seekingalpha.com/article/4716977-the-state-of-reits-august-2024-edition
"The State Of REITs: August 2024 Edition ;
By: Simon Bowler, Investing Group Leader, Seeking Alpha
Summary:
The REIT sector soared in July with an +8.33% average total return and is now in the black year to date with +3.83% thus far in 2024...
...All 18 REIT property types averaged a positive total return in July. Infrastructure (+21.55%) led the REIT sector, while Single Family Housing REIT (+0.67%) saw the smallest average gains.
The average REIT NAV discount narrowed from -16.28% to -9.05% during July. The median NAV discount narrowed from -16.85% to -8.64%.."

 

[Logique2]

$3.00 ; +18.6% today. Yield 7.04%
Following the sector upwards.