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: ASX50 | 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

$7.81

03 Oct
2024

0.230

OPEN

$7.66

3.03%

HIGH

$7.83

3,483,644

LOW

$7.63

TARGET
$7.564 -3.1% downside
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 . 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 56.7 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 13.7 xxx
Dividend Yield xxx N/A 4.8% xxx
Div Pay Ratio(%) xxx N/A 65.2% xxx

Dividend yield today if purchased 3 years ago: 4.59%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.18

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

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 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

0.2

No. Of Recommendations

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

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

21/08/2024

3

Neutral

$6.52

-16.52%

Dexus continues to experience a tough operating environment with FY25 guidance below forecasts from Macquarie.

The REIT is looking to recycle $2bn of divestments over FY25 to FY27, with a $1bn in divestment lowering gearing by around -4.5points versus 32% at June end.

Interestingly, the broker comments, industrial remains -15.4% under-rented, with funds under management declining and management targeting less than 50% exposure to any one sector.

Macquarie revises dividend forecasts with a change in the payout policy to 80%-100% from 100% of funds generated.

Target price $6.52 from $6.51. Neutral rated.

FORECAST
Macquarie forecasts a full year FY25 dividend of 37.00 cents and EPS of 45.90 cents.
Macquarie forecasts a full year FY26 dividend of 38.20 cents and EPS of 45.70 cents.

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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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

03/10/2024

3

Neutral

$7.85

0.51%

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

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Oct 03 2024 - Rudi's View
2
Australian Broker Call *Extra* Edition – Oct 03, 2024

Oct 03 2024 - Daily Market Reports
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August Result Season 2024: The Wrap

Sep 24 2024 - Feature Stories

Latest REITs News

1
Australian Listed Real Estate Tables – 30-09-2024

Sep 30 2024 - Weekly Reports
2
Australian Listed Real Estate Tables – 23-09-2024

Sep 23 2024 - Weekly Reports
3
Australian Listed Real Estate Tables – 16-09-2024

Sep 16 2024 - Weekly Reports
4
Australian Listed Real Estate Tables – 09-09-2024

Sep 09 2024 - Weekly Reports
5
Australian Listed Real Estate Tables – 02-09-2024

Sep 02 2024 - Weekly Reports
6
Australian Listed Real Estate Tables – 26-08-2024

Aug 26 2024 - Weekly Reports
7
Australian Listed Real Estate Tables – 19-08-2024

Aug 19 2024 - Weekly Reports
8
Australian Listed Real Estate Tables – 12-08-2024

Aug 12 2024 - Weekly Reports
9
Australian Listed Real Estate Tables – 05-08-2024

Aug 05 2024 - Weekly Reports
10
Australian Listed Real Estate Tables – 29-07-2024

Jul 29 2024 - Weekly Reports