DEXUS (DXS)
Share Price Analysis and Chart

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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
$6.64 20 Dec 2024	-0.050 OPEN $6.63	-0.75% HIGH $6.68	12,212,395 LOW $6.59

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$6.64

20 Dec
2024

-0.050

OPEN

$6.63

-0.75%

HIGH

$6.68

12,212,395

LOW

$6.59

TARGET

$7.836

18.0% upside

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

FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY23 Actual	FY24 Actual	FY25 Forecast	FY26 Forecast
EPS (cps)	xxx	- 147.3	56.6	xxx
DPS (cps)	xxx	48.0	37.0	xxx
EPS Growth	xxx	N/A	N/A	xxx
DPS Growth	xxx	- 7.0%	- 22.9%	xxx
PE Ratio	xxx	N/A	11.7	xxx
Dividend Yield	xxx	N/A	5.6%	xxx
Div Pay Ratio(%)	xxx	N/A	65.3%	xxx

Dividend yield today if purchased 3 years ago: 4.29%

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: 28/12 - ex-div 26.7c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2024 FactSet UK Limited. All rights reserved

Title	2019	2020	2021	2022	2023	2024
EPS Basic	xxx	xxx	xxx	xxx	xxx	-147.3
DPS All	xxx	xxx	xxx	xxx	xxx	48.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	964.0 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	945.1
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	616.0 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	-164.29 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title	2019	2020	2021	2022	2023	2024
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	-14.12 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	-9.84 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	-9.22 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	-14.12 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	-0.12 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	73.8 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	2019	2020	2021	2022	2023	2024
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	178 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	4,827 M
Total Debt	xxx	xxx	xxx	xxx	xxx	5,005 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	107 M
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	54 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	0.69

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title	2019	2020	2021	2022	2023	2024
Capex	xxx	xxx	xxx	xxx	xxx	2.4 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	0.25 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	356 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	629 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	5,921 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

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Sentiment Indicator

0.2

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Citi	xx/xx/xxxx	3	xxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Morgan Stanley	xx/xx/xxxx	5	xxxxxxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Ord Minnett	31/10/2024	1	Buy	$8.25	24.25%	Despite cautious commentary by management during the release of 1Q results by Dexus, Ord Minnett highlights Australian office markets have recorded 91,000 square meters of positive absorption, the strongest in six years. Office occupancy in Q1 declined to 93.5% from 94.8% due to tenant departures at 80 Collins Street and the broker expects a further decline to 92% over FY25 due to expected departures and lease expirations. The $8.25 target and Buy rating are unchanged.
UBS	xx/xx/xxxx	1	xxx	$xx.xx (xx/xx/xxxx)	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Macquarie	xx/xx/xxxx	3	xxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial

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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
Jarden	03/10/2024	3	Neutral	$7.85	18.22%	Jarden remains Neutral rated on Dexus given the absence of an obvious catalyst for ongoing outperformance in a sector where the outlook is gradually improving. The current share price implies a further -6-21% drop in Office valuations, which appears overdone to the analysts. Jarden's target rises to $7.85 from $7.00 largely due to lower risk-free-rate assumptions and lower valuation for corporate overheads. FORECAST Jarden forecasts a full year FY25 dividend of 37.00 cents and EPS of 61.90 cents. Jarden forecasts a full year FY26 dividend of 37.00 cents and EPS of 62.20 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Jarden

03/10/2024

Neutral

$7.85

18.22%

Jarden remains Neutral rated on Dexus given the absence of an obvious catalyst for ongoing outperformance in a sector where the outlook is gradually improving.

The current share price implies a further -6-21% drop in Office valuations, which appears overdone to the analysts.

Jarden's target rises to $7.85 from $7.00 largely due to lower risk-free-rate assumptions and lower valuation for corporate overheads.

FORECAST
Jarden forecasts a full year FY25 dividend of 37.00 cents and EPS of 61.90 cents.
Jarden forecasts a full year FY26 dividend of 37.00 cents and EPS of 62.20 cents.

Access Extra Coverage Research History >

DXS STOCK CHART

FNArena News on DXS

1	Rudi’s View: Banks, WiseTech, Redox & Integral Diagnostics Dec 19 2024 - Rudi's View

2	Ask FNArena: CSL, Charter Hall & Dexus Dec 16 2024 - Rudi's View

3	Next Week At A Glance -16-20 Dec 2024 Dec 13 2024 - Weekly Reports

4	Rudi’s View: Best Buys & Smaller Cap Favourites Dec 12 2024 - Rudi's View

5	Rudi’s View: In Santa We Trust (?) Dec 05 2024 - Rudi's View

Latest REITs News

1	Ask FNArena: CSL, Charter Hall & Dexus Dec 16 2024 - Rudi's View

2	Australian Listed Real Estate Tables – 16-12-2024 Dec 16 2024 - Weekly Reports

3	Australian Listed Real Estate Tables – 09-12-2024 Dec 09 2024 - Weekly Reports

4	Australian Listed Real Estate Tables – 02-12-2024 Dec 02 2024 - Weekly Reports

5	Australian Listed Real Estate Tables – 25-11-2024 Nov 25 2024 - Weekly Reports

6	Australian Listed Real Estate Tables – 18-11-2024 Nov 18 2024 - Weekly Reports

7	Australian Listed Real Estate Tables – 11-11-2024 Nov 11 2024 - Weekly Reports

8	Australian Listed Real Estate Tables – 04-11-2024 Nov 04 2024 - Weekly Reports

9	Australian Listed Real Estate Tables – 28-10-2024 Oct 28 2024 - Weekly Reports

10	Australian Listed Real Estate Tables – 21-10-2024 Oct 21 2024 - Weekly Reports

Dividend Yield Today On Last Actual Payout :	7.23
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
Tell Me The Dividend After This Many Years

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DEXUS (DXS)
Share Price Analysis and Chart