0045 GMT - Rising bond yields prompt Macquarie to pare price targets on most Australian real-estate investment trusts. Macquarie cuts assumptions around asset values by some 6% to reflect the 40bp expansion in real bond yields since end-February. "We continue to assume tighter capitalization rate spreads to real bonds than the long-term average (excluding office which we assume in line with long-term average) to reflect a structural re-rating for retail and industrial," Macquarie says. It also thinks share prices of office landlords are at risk of being marked lower due to growing concerns about AI's potential impact on demand for floor space. Macquarie cuts price targets on Charter Hall by 16% to A$20.71 and Dexus by 8% to A$6.91, among other changes. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

April 06, 2026 20:45 ET (00:45 GMT)

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