1927 ET - Morgans is reluctant to turn more bullish on Australian real-estate investment trusts despite a discount between share prices and net tangible assets across the sector. The investment bank notes that industrial-focused reits, other than Goodman, are trading at a discount of some 19%. It's an even bigger discount for office landlords at 24%. "However, the limited scope for short-term net property income growth leaves us largely on hold," Morgans says. Stock calls include hold recommendations on Dexus Convenience REIT, Centuria Industrial REIT, Centuria Office REIT and Garda Property. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

July 08, 2025 19:27 ET (23:27 GMT)

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