Question: I have noted that Dexus (DXS) is part of your income portfolio. Do you recommend that long term as a yield stock? What are your thoughts about Westfield (WFD) as part of a yield portfolio in view of earnings in US dollars. I would prefer to have only one A-REIT stock in a portfolio of 20.
Answer (By Paul Rickard): Dexus (DXS) and Westfield (WFD) are very different beasts – the former a domestically focused commercial property trust - the latter, an internationally focused developer of retail shopping malls.
If income is the driver, I would stick with Dexus. If growth is the driver, I would go with Westfield.