DEXUS INDUSTRIA REIT (DXI)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

DXI - DEXUS INDUSTRIA REIT

FNArena Sector : REITs

Year End: June

GICS Industry Group : Real Estate

Debt/EBITDA: 7.27

Index: ASX300 | ALL-ORDS

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$2.88 22 Jul 2024	0.000 OPEN $2.86	0.000 HIGH $2.89	302,651 LOW $2.86

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$2.88

22 Jul
2024

0.000

OPEN

$2.86

0.000

HIGH

$2.89

302,651

LOW

$2.86

TARGET

$3.037

+0.04 change from previous day

5.4% upside

Franking for last dividend paid out: 0%

OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . ASK . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DXC . DXS . ECF . GDF . GDI . HCW . HDN . NSR . PLG . REP . RFF . RGN . SCG . TGP . URW . VCX . WOT . WPR .

FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY22 Actual	FY23 Actual	FY24 Forecast	FY25 Forecast
EPS (cps)	xxx	0.1	17.3	xxx
DPS (cps)	xxx	16.4	16.4	xxx
EPS Growth	xxx	- 99.9%	100.0%	xxx
DPS Growth	xxx	- 5.2%	0.0%	xxx
PE Ratio	xxx	N/A	16.6	xxx
Dividend Yield	xxx	N/A	5.7%	xxx
Div Pay Ratio(%)	xxx	20500.0%	94.8%	xxx

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 27/03 - ex-div 4.1c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2024 FactSet UK Limited. All rights reserved

Title	2018	2019	2020	2021	2022	2023
EPS Basic	xxx	xxx	xxx	xxx	xxx	0.1
DPS All	xxx	xxx	xxx	xxx	xxx	16.4
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	79.6 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	347.3
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	61.9 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	0.34 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title	2018	2019	2020	2021	2022	2023
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	0.02 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	0.02 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	0.02 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	0.02 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	3.58 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	2.3 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title	2018	2019	2020	2021	2022	2023
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	0 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	414 M
Total Debt	xxx	xxx	xxx	xxx	xxx	414 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	-
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	6 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	0.74

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title	2018	2019	2020	2021	2022	2023
Capex	xxx	xxx	xxx	xxx	xxx	6.8 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	8.60 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	21 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	2 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	1,029 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

Display All Commentary

Sentiment Indicator

0.3

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Macquarie	xx/xx/xxxx	1	xxxxxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Morgans	23/05/2024	1	Add	$3.20	11.11%	Thanks to leasing outcomes at Jandakot Airport, Perth and Brisbane Technology Park (occupancy now at 97.5%) as well as lower interest costs, FY24 funds from operations guidance (FFO) has been upgraded by Dexus Industria REIT. FFO guidance moves to 17.4cpu from 17.1cpu and DPS guidance is unchanged. While the broker expects cap rates to expand further in the near-term, the REIT's industrial portfolio remains robust with the outlook positive for rental growth. The Add rating is maintained and the target price rises to $3.20 from $3.18. FORECAST Morgans forecasts a full year FY24 dividend of 16.40 cents and EPS of 17.40 cents. Morgans forecasts a full year FY25 dividend of 16.60 cents and EPS of 17.50 cents.
Bell Potter	xx/xx/xxxx	5	xxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Macquarie

xx/xx/xxxx

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgans

23/05/2024

Add

$3.20

11.11%

Thanks to leasing outcomes at Jandakot Airport, Perth and Brisbane Technology Park (occupancy now at 97.5%) as well as lower interest costs, FY24 funds from operations guidance (FFO) has been upgraded by Dexus Industria REIT.

FFO guidance moves to 17.4cpu from 17.1cpu and DPS guidance is unchanged.

While the broker expects cap rates to expand further in the near-term, the REIT's industrial portfolio remains robust with the outlook positive for rental growth.

The Add rating is maintained and the target price rises to $3.20 from $3.18.

FORECAST
Morgans forecasts a full year FY24 dividend of 16.40 cents and EPS of 17.40 cents.
Morgans forecasts a full year FY25 dividend of 16.60 cents and EPS of 17.50 cents.

Bell Potter

xx/xx/xxxx

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

EXTRA COVERAGE

Display All Commentary

No. Of Recommendations

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Moelis	12/02/2024	1	Buy	$3.21	11.46%	Dexus Industria REIT's December-half funds from operation per unit and dividend per unit rose to 8.6c and 8.2c respectively and appear to have outpaced Moelis's forecasts. Management reiterated FY24 guidance. Office was the standout thanks to a strong performance from Brisbane Technology park where the vacancy rate fell to 4.3% from 14.3% at June 30, generating an income yield of 7.5%. Management commentary suggests the Industrial portfolio is still strongly under-rented says Moelis, leaving room for growth. Net tangible assets fell -3% to $3.32 from $3.44 during the half as the like-for-like cap rate expanded. Gearing fell to 28.1% from 31.2% and should move to 26.2% following the January sales of two industrial assets. Gearing is down to 18.1%. Buy rating retained, the company trading at a -13% discount to net tangible assets. Target price rises to $3.21 from $3.11. FORECAST Moelis forecasts a full year FY24 dividend of 16.40 cents and EPS of 17.10 cents. Moelis forecasts a full year FY25 dividend of 16.90 cents and EPS of 17.80 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Moelis

12/02/2024

Buy

$3.21

11.46%

Dexus Industria REIT's December-half funds from operation per unit and dividend per unit rose to 8.6c and 8.2c respectively and appear to have outpaced Moelis's forecasts. Management reiterated FY24 guidance.

Office was the standout thanks to a strong performance from Brisbane Technology park where the vacancy rate fell to 4.3% from 14.3% at June 30, generating an income yield of 7.5%.

Management commentary suggests the Industrial portfolio is still strongly under-rented says Moelis, leaving room for growth.

Net tangible assets fell -3% to $3.32 from $3.44 during the half as the like-for-like cap rate expanded. Gearing fell to 28.1% from 31.2% and should move to 26.2% following the January sales of two industrial assets. Gearing is down to 18.1%.

Buy rating retained, the company trading at a -13% discount to net tangible assets. Target price rises to $3.21 from $3.11.

FORECAST
Moelis forecasts a full year FY24 dividend of 16.40 cents and EPS of 17.10 cents.
Moelis forecasts a full year FY25 dividend of 16.90 cents and EPS of 17.80 cents.

Access Stockbroker Research History >

DXI STOCK CHART

FNArena News on DXI

1	Rudi’s View: Rate Cuts, Growth & Small Caps Jul 18 2024 - Rudi's View

2	Rudi’s View: Gold, Healthcare, Staples & Copper Jul 11 2024 - Rudi's View

3	Rudi’s View: Investor Worries, Gold, Westpac, and Conviction Buys Apr 03 2024 - Rudi's View

4	Rudi’s View: Selective Opportunities Among Discounted REITs Mar 20 2024 - Rudi's View

5	Australian Broker Call Extra Edition – Feb 12, 2024 Feb 12 2024 - Daily Market Reports

Latest REITs News

1	Australian Listed Real Estate Tables – 22-07-2024 Jul 22 2024 - Weekly Reports

2	Pros & Cons Of Discounted A-REITs Jul 16 2024 - Feature Stories

3	Australian Listed Real Estate Tables – 15-07-2024 Jul 15 2024 - Weekly Reports

4	Australian Listed Real Estate Tables – 08-07-2024 Jul 08 2024 - Weekly Reports

5	Australian Listed Real Estate Tables – 01-07-2024 Jul 01 2024 - Weekly Reports

6	Australian Listed Real Estate Tables – 24-06-2024 Jun 24 2024 - Weekly Reports

7	Australian Listed Real Estate Tables – 17-06-2024 Jun 17 2024 - Weekly Reports

8	Australian Listed Real Estate Tables – 03-06-2024 Jun 03 2024 - Weekly Reports

9	Australian Listed Real Estate Tables – 27-05-2024 May 27 2024 - Weekly Reports

10	Australian Listed Real Estate Tables – 20-05-2024 May 20 2024 - Weekly Reports

Dividend Yield Today On Last Actual Payout :	5.71
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
Tell Me The Dividend After This Many Years

	Yield	Yield on investment
This Year
Year 1
Year 2
Year 3
Year 4
Year

Get 2 Weeks free trial

Sign Up

Member Login

DEXUS INDUSTRIA REIT (DXI)
Share Price Analysis and Chart