It appears Morgan Stanley has resumed coverage of Dexus Property Group. This time last year coverage was ceased because the responsible analyst had left the firm.

The brokerage notes unlisted GIC has acquired an additional 24% of Dexus Aust Logistics Trust (DALT), an unlisted fund originally set up in Nov 2018 with DXS/GIC holding 75%/25%.

No material impact is expected this financial year with the deal expected to close in April. Equal-weight rating alongside an In-Line sector view. Price target is $12.

Sector: Real Estate.

Target price is $12.00.Current Price is $11.90. Difference: $0.10 - (brackets indicate current price is over target). If DXS meets the Morgan Stanley target it will return approximately 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2020 Acquisdata Pty Ltd., source FN Arena