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: 27.98
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

$6.68

26 Feb
2026

0.060

OPEN

$6.70

0.91%

HIGH

$6.70

1,819,172

LOW

$6.57

TARGET
$7.398 10.7% upside
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . ASK . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DGT . DXC . DXI . GDF . GDI . HCW . HDN . NSR . PLG . REP . RFF . RGN . SCG . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
DXS: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 12.8 62.8 xxx
DPS (cps) xxx 37.0 37.0 xxx
EPS Growth xxx N/A 100.0% xxx
DPS Growth xxx - 22.9% 0.0% xxx
PE Ratio xxx N/A 10.7 xxx
Dividend Yield xxx N/A 5.5% xxx
Div Pay Ratio(%) xxx 288.2% 58.9% xxx

Dividend yield today if purchased 3 years ago: 4.39%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.51

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: 27/06 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx12.8
DPS All xxxxxxxxxxxxxxx37.0
Sales/Revenue xxxxxxxxxxxxxxx1,007.6 M
Book Value Per Share xxxxxxxxxxxxxxx920.3
Net Operating Cash Flow xxxxxxxxxxxxxxx828.7 M
Net Profit Margin xxxxxxxxxxxxxxx0.34 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx0.03 %
Return on Invested Capital xxxxxxxxxxxxxxx0.02 %
Return on Assets xxxxxxxxxxxxxxx0.02 %
Return on Equity xxxxxxxxxxxxxxx0.03 %
Return on Total Capital xxxxxxxxxxxxxxx1.03 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx394.2 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx941 M
Long Term Debt xxxxxxxxxxxxxxx3,888 M
Total Debt xxxxxxxxxxxxxxx4,829 M
Goodwill - Gross xxxxxxxxxxxxxxx118 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx65 M
Price To Book Value xxxxxxxxxxxxxxx0.72

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx13.2 M
Capex % of Sales xxxxxxxxxxxxxxx1.31 %
Cost of Goods Sold xxxxxxxxxxxxxxx310 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx544 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx5,621 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

0.1

No. Of Recommendations

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

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

18/02/2026

3

Neutral

$7.34

9.88%

In an early glance, UBS notes Dexus today delivered a slight 1H26 beat versus consensus, with funds from operations (FFO) of $352.2m and management reaffirmed FY26 guidance.

The broker highlights stable office occupancy at 92.2%, solid industrial net operating income (NOI) growth of 8.7% and a $36.2bn funds under management (FUM) base, alongside a proposed 10% buyback.

Office incentives rose, observe the analysts, limiting effective growth, while gearing increased to 33.9%.

Neutral rating and $7.34 target.

FORECAST
UBS forecasts a full year FY26 dividend of 37.00 cents and EPS of 63.00 cents.
UBS forecasts a full year FY27 dividend of 38.00 cents and EPS of 63.00 cents.

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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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

25/02/2026

4

Underweight

$7.55

13.02%

Jarden retains its Underweight rating on Dexus and lifts its price target by 10c to $7.55 after 1H adjusted funds from operations (AFFO) of 23.6c beat the 23.4 consensus forecast.

Stronger trading profits offset slightly weaker underlying FFO, explain the analysts. FY26 AFFO guidance of 44.5-45.5c was unchanged and a buyback of up to 10% of securities (around $750m) was announced.

The broker updates its forecasts to reflect lower trading profits from FY27, the buyback, and a higher interest rate curve, resulting in modest AFFO and FFO revisions across FY26-28.

Despite improving office conditions, Jarden highlights FY27 headwinds from positive FY26 one-offs rolling off the financial model and lower funds under management (FUM).

FORECAST
Jarden forecasts a full year FY26 dividend of 37.00 cents and EPS of 64.00 cents.
Jarden forecasts a full year FY27 dividend of 37.10 cents and EPS of 60.60 cents.
Access Extra Coverage Research History >

DXS STOCK CHART

FNArena News on DXS

1
Australian Broker Call *Extra* Edition – Feb 25, 2026

Feb 25 2026 - Daily Market Reports
2
FNArena Corporate Results Monitor – 19-02-2026

Feb 19 2026 - Australia
3
Weekly Ratings, Targets, Forecast Changes – 06-02-26

Feb 09 2026 - Weekly Reports
4
Rudi’s View: February Favourites & Avoids

Jan 29 2026 - Rudi's View
5
Australian Broker Call *Extra* Edition – Jan 19, 2026

Jan 19 2026 - Daily Market Reports

Latest REITs News

1
Australian Listed Real Estate Tables – 23-02-2026

Feb 23 2026 - Weekly Reports
2
Australian Listed Real Estate Tables – 16-02-2026

Feb 16 2026 - Weekly Reports
3
Australian Listed Real Estate Tables – 09-02-2026

Feb 09 2026 - Weekly Reports
4
Australian Listed Real Estate Tables – 02-02-2026

Feb 02 2026 - Weekly Reports
5
Australian Listed Real Estate Tables – 27-01-2026

Jan 27 2026 - Weekly Reports
6
Australian Listed Real Estate Tables – 22-12-2025

Dec 22 2025 - Weekly Reports
7
Australian Listed Real Estate Tables – 15-12-2025

Dec 15 2025 - Weekly Reports
8
Australian Listed Real Estate Tables – 08-12-2025

Dec 08 2025 - Weekly Reports
9
Australian Listed Real Estate Tables – 01-12-2025

Dec 01 2025 - Weekly Reports
10
Australian Listed Real Estate Tables – 24-11-2025

Nov 24 2025 - Weekly Reports