ASX:DXSOffice REITs
DEXUS (ASX:DXS) Shares Look Reasonable On Earnings While Cash Flow Looks Rich
DEXUS has had a rough run over the past five years, yet the stock now appears cheaper on both an intrinsic value estimate and on simple valuation multiples than its current share price implies.
The share price has fallen about 31.6% over five years, which means long term holders are still carrying sizeable capital losses.
Future cash flow from its property portfolio can support the current valuation if occupancy and rental income hold up, but any sustained weakness in tenant demand or asset...