Attractive Entry Point Arises in Aussie Office Landlords -- Market Talk

Dow Jones

Oct 14, 2025

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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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 <a href=\"https://laohu8.com/S/DXS.AU\">Dexus</a> 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) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 13, 2025 18:11 ET (22:11 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Attractive Entry Point Arises in Aussie Office Landlords -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAttractive Entry Point Arises in Aussie Office Landlords -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-10-14 06:11</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     2211 GMT - Australian office REITS are being marked down too far, according to <a href=\"https://laohu8.com/S/MQG.AU\">Macquarie</a>. 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 <a href=\"https://laohu8.com/S/DXS.AU\">Dexus</a> 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) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 13, 2025 18:11 ET (22:11 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7122","symbol_name":"办公房地产投资信托","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2575723578","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2575723578","pubTimestamp":1760393460,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"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. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7122":"办公房地产投资信托","MGR.AU":"MIRVAC GROUP","BK7510":"REITs概念","BK7087":"多样化房地产投资信托v","BK7154":"办公室房地产信托","DXS.AU":"Dexus"},"translate_title":"澳大利亚写字楼业主出现有吸引力的切入点——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MGR.AU":0.9,"DXS.AU":0.9},"content_text":"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) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 13, 2025 18:11 ET (22:11 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}