Business
Top property stocks face buyout threat – The Australian Financial Review
Negativity over office towers and retail malls could ultimately be the catalyst for major corporate action.
Dexus, a $9.5 billion company, has been trading at a 20 per cent or more discount to its net tangible asset (NTA) value. This week its stock dropped further after Morgan Stanley downgraded the stock from overweight to underweight and slashed its target price over concerns on how it will fare in a high unemployment, low occupancy environment.
Running on short time frames, the listed market typically overshoots or undershoots in its pricing of stocks, Mr Steinberg said. In contrast, private equit…
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