2211 GMT - Australian office REITS are being marked down too far, according to Macquarie. Office values have fallen some 20% from a peak in 2Q of 2022. Macquarie believes there is limited downside risk to book values, citing stability in market data and with the spread to real bonds around the long-run average. "Given this, we believe the falls implied in share prices are too great, and therefore this presents an attractive entry point," Macquarie says. It has outperform calls on Dexus and Mirvac for "their office exposure in our preferred precincts, where the fundamental outlook is more favorable." Dexus is down 34% since April 2022. Mirvac is down 5.4% over the same period. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

October 13, 2025 18:11 ET (22:11 GMT)

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