The Dexus Property Group (ASX: DXS) share price hit a new 5-year high of $10.69 this morning.
Shares of the property investment company are up 96% in the past 5 years, and 19% in the past 12 months.
According to Google Finance, the principal activity of the Company is to own, manage and develop real estate assets, and manage real estate funds on behalf of third-party investors.
The Company's segments include Office, which consists of domestic office space with any associated retail space, as well as car parks and office developments; Industrial, which includes domestic industrial properties, industrial estates and industrial developments; Property management, which includes property management services for third-party clients and owned assets; Funds management, which consists of funds management of third-party client assets; Development and trading, which includes revenue earned and costs incurred by the Company on developments and inventory, and All other segments. The owned portfolio consists primarily of central business district office properties.
Shares have rocketed higher after the company announced the sale of its remaining 2017 trading properties, and recent buoyant quarterly results.
At a share price of $10.69, DEXUS units trade on 14.5 times forward earnings estimates, and offer an unfranked dividend yield of 4.2%.
