Dexus Says Office Portfolio Occupancy Improved in March Quarter

MT Newswires Live05-05

Dexus (ASX:DXS) said its office portfolio occupancy improved by 90 basis points during the March quarter to just over 93%, above the market average of roughly 85%, after leasing agreements in Melbourne and Sydney, according to a Tuesday filing with the Australian bourse.

The company also said its industrial portfolio occupancy rate is high at nearly 97%, but remains more than 7% under-rented, creating an opportunity to boost income by resetting rents on upcoming lease expiries, per the filing.

Dexus reiterated its forecast for adjusted funds from operations of AU$0.445 to AU$0.455 per security and distributions of AU$0.37 per security for the 12 months through June.

The company's shares fell past 2% in recent Tuesday trade.

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