DEXUS (DXS)
Share Price Analysis and Chart

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DXS

DXS - DEXUS

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: -794.37
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Dexus is an Australian Real Estate Investment Trust (REIT) that owns a portfolio of mainly office properties and manages a range of office, industrial and healthcare properties for third parties. It was founded in 1984 and listed on the ASX as the Deutsche Diversified Trust.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$7.27

21 Mar
2025

0.010

OPEN

$7.28

0.14%

HIGH

$7.31

6,332,518

LOW

$7.19

TARGET
$7.98

+0.03 change from previous day

 9.8% upside
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . ASK . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DGT . DXC . DXI . ECF . GDF . GDI . HCW . HDN . NSR . PLG . REP . RFF . RGN . SCG . TGP . URW . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
DXS: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx - 147.3 58.6 xxx
DPS (cps) xxx 48.0 37.1 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx - 7.0% - 22.8% xxx
PE Ratio xxx N/A 12.4 xxx
Dividend Yield xxx N/A 5.1% xxx
Div Pay Ratio(%) xxx N/A 63.3% xxx

Dividend yield today if purchased 3 years ago: 4.49%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.60

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
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: 30/12 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-147.3
DPS All xxxxxxxxxxxxxxx48.0
Sales/Revenue xxxxxxxxxxxxxxx964.0 M
Book Value Per Share xxxxxxxxxxxxxxx945.1
Net Operating Cash Flow xxxxxxxxxxxxxxx616.0 M
Net Profit Margin xxxxxxxxxxxxxxx-164.29 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-14.12 %
Return on Invested Capital xxxxxxxxxxxxxxx-9.84 %
Return on Assets xxxxxxxxxxxxxxx-9.22 %
Return on Equity xxxxxxxxxxxxxxx-14.12 %
Return on Total Capital xxxxxxxxxxxxxxx-0.12 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx73.8 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx178 M
Long Term Debt xxxxxxxxxxxxxxx4,827 M
Total Debt xxxxxxxxxxxxxxx5,005 M
Goodwill - Gross xxxxxxxxxxxxxxx107 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx54 M
Price To Book Value xxxxxxxxxxxxxxx0.69

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx2.4 M
Capex % of Sales xxxxxxxxxxxxxxx0.25 %
Cost of Goods Sold xxxxxxxxxxxxxxx356 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx629 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx5,921 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.4

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Macquarie

19/02/2025

1

Outperform

$8.08

11.14%

First half adjusted funds from operations (AFFO) for Dexus aligned with the consensus forecast, and FY25 AFFO guidance of between 44.5-45.5cpu was reaffirmed, with Macquarie forecasting 45cpu.

After increasing forecasts for management earnings and trading profits, and lowering estimates for corporate costs, Macquarie raises its target by 4% to $8.08.

The analyst highlights Dexus is trading at a -12% discount to December 2024 net tangible assets (NTA), which is thought to be overly pessimistic. Outperform maintained.

FORECAST
Macquarie forecasts a full year FY25 dividend of 37.00 cents and EPS of 46.90 cents.
Macquarie forecasts a full year FY26 dividend of 38.90 cents and EPS of 46.80 cents.

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

Jarden

20/02/2025

3

Neutral

$7.50

3.16%

Jarden believes Dexus will continue to face headwinds in both office and logistics, despite improving sentiment in office and the broader sector. 

The return of trading profits and confirmed performance fees will help fill the gap in the near term, but the broker notes investors will want to see an underlying funds from operations recovery.

The broker sees potential M&A references in the media as highly speculative given the weak cash generation and complexity of the business.

Neutral rating and $7.5 target price.

FORECAST
Jarden forecasts a full year FY25 dividend of 37.00 cents and EPS of 62.80 cents.
Jarden forecasts a full year FY26 dividend of 38.00 cents and EPS of 64.80 cents.
Access Extra Coverage Research History >

DXS STOCK CHART

FNArena News on DXS

1
Rudi’s View: Post February Conviction Calls

Mar 13 2025 - Rudi's View
2
Post Bottom, Focus Shifts To A-REITs Potential

Mar 13 2025 - Feature Stories
3
Rudi’s View: Best Ideas & Conviction Calls

Feb 20 2025 - Rudi's View
4
Australian Broker Call *Extra* Edition – Feb 20, 2025

Feb 20 2025 - Daily Market Reports
5
FNArena Corporate Results Monitor – 19-02-2025

Feb 19 2025 - Australia

Latest REITs News

1
Australian Listed Real Estate Tables – 17-03-2025

Mar 17 2025 - Weekly Reports
2
Post Bottom, Focus Shifts To A-REITs Potential

Mar 13 2025 - Feature Stories
3
Australian Listed Real Estate Tables – 10-03-2025

Mar 10 2025 - Weekly Reports
4
Australian Listed Real Estate Tables – 03-03-2025

Mar 03 2025 - Weekly Reports
5
Australian Listed Real Estate Tables – 24-02-2025

Feb 24 2025 - Weekly Reports
6
Australian Listed Real Estate Tables – 17-02-2025

Feb 17 2025 - Weekly Reports
7
Australian Listed Real Estate Tables – 10-02-2025

Feb 10 2025 - Weekly Reports
8
Australian Listed Real Estate Tables – 03-02-2025

Feb 03 2025 - Weekly Reports
9
Ask FNArena: CSL, Charter Hall & Dexus

Dec 16 2024 - Rudi's View
10
Australian Listed Real Estate Tables – 16-12-2024

Dec 16 2024 - Weekly Reports