Annuncio • Jul 15
Dexus Provides Update on APAC Matter Dexus provided the following update on the APAC matter most recently outlined in its announcements on May 29, June 5, June 12, June 18 and June 25, 2026. The appeals filed by both the Rest Infrastructure Trust (REST Appeal) and the remainder of the Dexus Bloc (Dexus Bloc Appeal) (together, the Appeals) were listed before the Court for directions. The Court made orders fixing a hearing date for both the REST Appeal and the Dexus Bloc Appeal on October 20, 2026 for a period of three days, along with directions for procedural steps ahead of the hearing. APAC has filed a Notice of Cross-Appeal in the Dexus Bloc Appeal contending that, if the Default Notice is not valid as against the Non-Selling Shareholders, it was still valid as against the Dexus Bloc Selling Shareholders as defined in paragraph [31] of the judgment delivered by the Supreme Court of NSW on May 29, 2026 (Judgment). It has also filed a Notice of Cross-Appeal in the REST Appeal contending that, if the Default Notice is not valid as against REST, it should be valid as against all other members of the Dexus Bloc or alternatively against the Dexus Bloc Selling Shareholders as defined in paragraph [31] of the Judgment. Each of APAC, Future Fund, IFM and TCorp have filed Notices of Contention in both Appeals contending that the decision of the Supreme Court of NSW should be affirmed on grounds other than or additional to those relied upon by Justice Hammerschlag. Dexus will provide further updates on the APAC matter in accordance with its disclosure obligations. Declared Dividend • Jun 25
First half dividend of AU$0.18 announced Shareholders will receive a dividend of AU$0.18. Ex-date: 29th June 2026 Payment date: 28th August 2026 Dividend yield will be 6.4%, which is lower than the industry average of 8.4%. Annuncio • Jun 23
DEXUS Announces Estimated Distribution for the Six Months to 30 June 2026, Payable on 28 August 2026 DEXUS announced an estimated distribution of 17.7 cents per security for the six months to 30 June 2026. The distribution will be paid by Dexus Property Trust, with a proposed record date of 30 June 2026, ex distribution date of 29 June 2026 and payment date of 28 August 2026. Annuncio • Jun 20
Dexus Finance Pty Limited Provides Update on APAC Matter Dexus Finance Pty Limited had provided the following update on the APAC matter most recently outlined in its announcements on May 29, June 5 and June 12, 2026. One of the Dexus Bloc shareholders, REST Nominees No.2 Pty Ltd. as trustee of Rest Infrastructure Trust, has filed with the Supreme Court of New South Wales, Court of Appeal, a Notice of Appeal from the decision of the NSW Supreme Court of May 29, 2026 that the Default Notice is valid. The Notice of Appeal has been set down for first Directions on July 8, 2026. The other Dexus Bloc shareholders have until June 26, 2026 to file any appeal. Dexus Finance Pty Limited will provide further updates on the APAC matter in accordance with its disclosure obligations. Annuncio • Feb 27
DEXUS Reaffirms Distribution Guidance for the 12 Months Ending 30 June 2026 DEXUS reaffirmed distribution guidance for the 12 months ending 30 June 2026. For the Barring unforeseen circumstances, for the 12 months ending 30 June 2026, the company reaffirms its expectation for distributions of 37.0 cents per security. Annuncio • Feb 10
Dexus Industria REIT (ASX:DXI) acquired remaining 50% stake in 12 Church Street, Moorebank, NSW from DEXUS (ASX:DXS) for AUD 49.6 million. Dexus Industria REIT (ASX:DXI) acquired remaining 50% stake in 12 Church Street, Moorebank, NSW from DEXUS (ASX:DXS) for AUD 49.6 million on February 9, 2026. A cash consideration of AUD 49.6 million will be paid by Dexus Industria REIT. As part of consideration, AUD 49.6 million is paid towards 12 Church Street, Moorebank, NSW. Upon completion, Dexus Industria REIT will hold 100% stake in 12 Church Street, Moorebank, NSW. The transaction will be financed through existing debt facilities.
Dexus Industria REIT (ASX:DXI) completed the acquisition of the remaining 50% stake in 12 Church Street, Moorebank, NSW from DEXUS (ASX:DXS) for AUD 49.6 million on February 9, 2026. Upcoming Dividend • Dec 24
Upcoming dividend of AU$0.19 per share Eligible shareholders must have bought the stock before 30 December 2025. Payment date: 27 February 2026. Trailing yield: 5.1%. Lower than top quartile of Australian dividend payers (5.6%). Lower than average of industry peers (5.8%). Declared Dividend • Dec 24
Final dividend of AU$0.19 announced Shareholders will receive a dividend of AU$0.19. Ex-date: 30th December 2025 Payment date: 27th February 2026 Dividend yield will be 5.2%, which is lower than the industry average of 8.4%. Annuncio • Oct 25
DEXUS Reportedly to Sell the Bond Complex in Sydney for About AUD 280 Million DEXUS (ASX:DXS) is set to become the latest to capitalise on the pick-up in the office market and is selling The Bond complex in Sydney for about AUD 280 million. The building is in the sights of funds house AsheMorgan, which is in due diligence to buy the A-grade office tower in the Barangaroo precinct. Dexus has been weighing up selling the block for more than a year and had earlier put rival groups into due diligence. They were unable to close off deals as confidence in the office market was still weak. However, this is starting to turn around quite quickly, with sales in train for both large assets and smaller value-add style buildings. The buyers are backing themselves to find new tenants at a time when incentives in many markets are coming down and inquiry levels are rising. AsheMorgan is believed to be confident in its capacity to both attract capital for the purchase, which shows good metrics, and boost the leasing in the building. The sale price is also above a previously held book value of about AUD 260 million, showing that buildings are starting to not only stabilise but rise in value when they are in attractive city corridors. Large institutions are still selling down some assets in order to keep their gearing in check and smaller fund managers are in buy mode, along the eastern seaboard. The change in sentiment is partly driven by lower interest rates, which are driving down finance costs, and improving demand for property syndicates as investors flock to them as term deposit rates head down. There is also less risk of office values falling again and the need for syndicates to come back to their investors in order to top up their equity . The block, 30 The Bond, at 30-34 Hickson Road, was offered off-market in late 2023 in line with Dexus's strategy of recycling capital into higher returning -opportunities. It had June 2023 book value of AUD 354 million but this dropped down to about AUD 260 million as interest rates were hiked. The A-grade office tower sports a full height atrium providing an abundance of natural light. The nine-level building has glass lifts, suspended meeting rooms and open breakout spaces, as well as large floor plates providing workspace efficiency and flexibility. It sits close to the heart of Sydney's Rocks precinct and benefits from a wide variety of restaurants, hotels, bars and cafes. The block at 30 The Bond offers convenient and direct access to public transport. Wynyard Walk provides quick undercover access to trains and buses, while Barangaroo Ferry Wharf is just minutes from the doorstep. Dexus this year offloaded a Melbourne office building -Flinders Gate for AUD 254.5 million via CBRE. Annuncio • Sep 26
Wentworth Capital Pty Ltd acquired Rydalmere Metro Centre from Dexus Wholesale Property Fund managed byDEXUS (ASX:DXS) for approximately AUD 150 million. Wentworth Capital Pty Ltd acquired Rydalmere Metro Centre from Dexus Wholesale Property Fund managed by DEXUS (ASX:DXS) for approximately AUD 150 million on September 25, 2025.
Wentworth Capital Pty Ltd completed the acquisition of Rydalmere Metro Centre from Dexus Wholesale Property Fund managed by DEXUS (ASX:DXS) on September 25, 2025. Annuncio • Sep 25
DEXUS, Annual General Meeting, Oct 29, 2025 DEXUS, Annual General Meeting, Oct 29, 2025. Location: dexus place, level 15, 1 farrer place, sydney nsw 2000 Australia Reported Earnings • Aug 20
Full year 2025 earnings released: AU$0.013 loss per share (vs AU$1.47 loss in FY 2024) Full year 2025 results: AU$0.013 loss per share (improved from AU$1.47 loss in FY 2024). Revenue: AU$673.1m (up 99% from FY 2024). Net loss: AU$11.0m (loss narrowed 99% from FY 2024). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Office REITs industry in Australia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Board Change • Aug 18
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director of Dexus Funds Management Limited Peeyush Kumar Gupta was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Annuncio • Jun 26
Dexus Announces Ordinary Dividend on Dxs - Fully Paid Units Stapled Securities for Period of Six Months Ended June 30, 2025, Payable on August 29, 2025 DEXUS announced ordinary dividend on DXS - FULLY PAID UNITS STAPLED SECURITIES for period of six months ended June 30, 2025 of AUD 0.18000000. Ex Date is June 27, 2025. Record Date is June 30, 2025. Payment Date is August 29, 2025. Annuncio • Jun 06
PAG Reportedly Eyes Melbourne's Flinders Gate Complex Hong Kong private equity and real estate company PAG is again looking to snap up a Melbourne office tower at a time when many rival companies are steering clear of the city. The company is circling the Flinders Gate complex that adjoins Melbourne's renowned Adelphi Hotel, with listed property group DEXUS (ASX:DXS) looking to sell it around the $260 million mark after redeveloping the office complex five years ago. The Asia-based manager has previously bought while Melbourne's office market is at a low point, last year picking up a tower at 367 Collins Street from listed group Mirvac for about $340 million. The Flinders Gate office complex comprises two boutique buildings and a multi-deck carpark. It could be slotted into a core mandate managed by the offshore group. Dexus redeveloped the tower after winning builder John Holland to anchor the Flinders Street complex on a site opposite Federation Square. It also houses tenants including Netwealth, Cox Architecture and developer Time & Place. But private players are buying. Notably, property tycoon Harry Stamoulis, whose family fortune was originally struck in the Gold Medal soft drink empire, is buying again, with his company in due diligence on 357 Collins Street that a Frasers-run trust is selling for about $200 million. Dexus declined to comment. Annuncio • May 22
Update on the Dexus Bloc Interest in Australia Pacific Airports Corporation (APAC) Dexus provided an update in reference to its ASX release of 16 May 2025 and the notice received from the APAC Board to which it refers (Notice). In order to protect the interests of the Dexus Bloc Shareholders, Dexus filed proceedings in the New South Wales Supreme Court contesting the validity of the Notice. Dexus has obtained an injunction against APAC. The Injunction temporarily lifts the suspension of the governance, voting and information rights of the Dexus Bloc Shareholders that arose on the issue of the Notice, and prevents any valuation of the Dexus Bloc Shareholder interests from being finalised while the dispute is being determined (consequently preventing any forced sale occurring). The Injunction is to remain in place until the Court makes its final ruling in the proceeding, which is scheduled to be heard on 11 and 12 August 2025. In exchange for the Injunction, Dexus has committed to pay any damages that may arise to impacted parties in the event that its claim does not succeed (as is usual in exchange for orders of this kind). Dexus will continue to assess potential impacts of this matter and will provide further updates in accordance with its disclosure obligations. Annuncio • Feb 18
DEXUS Provides Distributions for the 12 Months Ending 30 June 2025 DEXUS provided distributions for the 12 months ending 30 June 2025. For the year, the company expects distributions of circa 37.0 cents per security for the 12 months ending 30 June 2025. Board Change • Feb 04
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director of Dexus Funds Management Limited Peeyush Kumar Gupta was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Dec 24
Upcoming dividend of AU$0.19 per share Eligible shareholders must have bought the stock before 30 December 2024. Payment date: 28 February 2025. Trailing yield: 6.8%. Within top quartile of Australian dividend payers (6.1%). Lower than average of industry peers (7.6%). Board Change • Dec 24
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director of Dexus Funds Management Limited Peeyush Kumar Gupta was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Annuncio • Dec 23
DEXUS(ASX:DXS) dropped from S&P/ASX 50 Index DEXUS(ASX:DXS) dropped from S&P/ASX 50 Index Annuncio • Nov 29
Aware Super Pty Ltd agreed to acquire Office building at 145 Ann Street, Brisbane from DEXUS (ASX:DXS) and Canada Pension Plan Investment Board for approximately AUD 210 million. Aware Super Pty Ltd agreed to acquire Office building at 145 Ann Street, Brisbane from DEXUS (ASX:DXS) and Canada Pension Plan Investment Board for approximately AUD 210 million on November 28, 2024. A cash consideration of AUD 213.9 million will be paid by Aware Super Pty Ltd. As part of consideration, AUD 213.9 million is paid towards assets of Office building at 145 Ann Street, Brisbane.
The expected completion of the transaction is December 2024. Annuncio • Oct 31
An undisclosed buyer acquired B grade suburban office building in Sydney. from DEXUS (ASX:DXS). An undisclosed buyer agreed to acquire B grade suburban office building in Sydney. from DEXUS (ASX:DXS) for AUD 69.1 million on June 27, 2024. A cash consideration of AUD 69.1 million will be paid by the buyer. As part of consideration, AUD 69.1 million is paid towards assets of B grade suburban office building in Sydney.
The expected completion of the transaction is November 2024.Sale proceeds will initially be utilized to repay debt
An undisclosed buyer completed the acquisition of B grade suburban office building in Sydney. from DEXUS (ASX:DXS) on October 30, 2024. Annuncio • Aug 29
Dexus Provides Distribution Policy Update Dexus provided Distribution policy update. Consistent with Dexus's strategy, from Fiscal year 2025 the distribution policy has been updated to pay out 80% to 100% of AFFO, providing a sustainable source of capital to invest through the cycle into return- enhancing investment opportunities. Annuncio • Aug 22
DEXUS Announces Dividend for the Period Ended June 30, 2024, Payable on August 29, 2024 DEXUS announced dividend of 21.3 cents per security for the period ended June 30, 2024, as compared to 23.6 cents per security a year ago. This distribution is to be paid on August 29, 2024. Reported Earnings • Aug 20
Full year 2024 earnings released: AU$1.47 loss per share (vs AU$0.70 loss in FY 2023) Full year 2024 results: AU$1.47 loss per share (further deteriorated from AU$0.70 loss in FY 2023). Revenue: AU$923.9m (up 43% from FY 2023). Net loss: AU$1.58b (loss widened 110% from FY 2023). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 10.0% growth forecast for the Office REITs industry in Australia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Annuncio • Jul 17
Dexus Announces Executive Changes Dexus announced the appointment of Nik Kemp to the newly created role of Executive General Manager, Growth Markets. Nik will support the sectors in which Dexus is actively building capability and scale, including infrastructure, healthcare and alternative investments. Nik is an experienced infrastructure and real assets professional. He joins Dexus from AustralianSuper, where he held the role of Global Head of Real Assets and is a non-executive director on the boards of Sydney Airport and WestConnex. Marjan van der Burg has been appointed Chief People Officer, reinforcing Dexus's focus on building diverse teams to drive leadership across its real asset platform. Prior to joining Dexus, Marjan held a number of roles at Macquarie Group in Australia and overseas. After 11 years at Dexus, Deborah Coakley will be stepping down as Chief Executive, Funds Management to pursue another opportunity, effective 17 July 2024. Dexus will undertake a comprehensive internal and external recruitment process for the funds management executive role. In the interim, Ross Du Vernet, Group CEO & Managing Director, will work closely with the funds management leadership team and capital partners. Declared Dividend • Jun 21
First half dividend of AU$0.21 announced Shareholders will receive a dividend of AU$0.21. Ex-date: 27th June 2024 Payment date: 29th August 2024 Dividend yield will be 7.5%, which is lower than the industry average of 8.4%. Board Change • May 17
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Peeyush Kumar Gupta was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Jan 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chief Investment Officer & Executive Director of Dexus Funds Management Limited Ross Du Vernet was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Dec 21
Upcoming dividend of AU$0.27 per share at 6.7% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 29 February 2024. Trailing yield: 6.7%. Within top quartile of Australian dividend payers (6.7%). Lower than average of industry peers (8.3%). Annuncio • Dec 15
Dexus Announces the Ordinary Dividend for the Six Month Ending December 31, 2023, Payable on February 29, 2024 Dexus announced the ordinary dividend of AUD 0.26700000 for the six month ending December 31, 2023. Payable on February 29, 2024 with record date of December 29, 2023 and Ex-date is December 28, 2023. Buying Opportunity • Dec 15
Now 23% undervalued Over the last 90 days, the stock is up 2.5%. The fair value is estimated to be AU$9.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.3% over the last 3 years. Meanwhile, the company became loss making. Annuncio • Oct 26
Darren Steinberg to Step Down as Dexus CEO Dexus announces that Chief Executive Officer, Darren Steinberg, has advised of his intention to step down in 2024 after more than 11 years in the role. Darren will continue as CEO until the commencement of his successor and will work closely with the Board to ensure a smooth transition. The Board has commenced a process for his replacement. Annuncio • Oct 12
Buyers Reportedly on Runway for Airport Stakes Serious contenders are starting to surface for the sale of a major stake in Queensland Airport Limited, with Stonepeak Partners LP, Global Infrastructure Management, LLC and KKR & Co. Inc. (NYSE:KKR) all said to be running the ruler over the infrastructure offering. Queensland Airport owns regional airports including Gold Coast, Townsville, Mount Isa and Longreach Airports. Initially, a 40% stake was on offer through Barrenjoey and thought to be worth more than $1 billion, but now that the sale has changed path to be 74% of the business on offer, the thinking is that the asset becomes far more attractive. The larger share means that active infrastructure investors will now be keen to compete because they have operational control. Stonepeak, KKR and GIP, along with DEXUS (ASX:DXS), which owns the former AMP Capital infrastructure business, are the groups believed to be giving an acquisition serious thought. Shareholders are listed as The Infrastructure Fund, Perron Investments, Australian Retirement Trust, Allan Moss, Queensland Airport Investments, Project Cricket State Super Unit Trust, and Lipno Holdings. It comes as the sale process for a stake in Perth Airport is expected to get under way imminently. Earlier, it was expected that the investment bank overseeing the sale of a stake, UBS, would not run a sale process. Annuncio • Aug 18
An unknown buyer agreed to acquire A grade office building at 1 Margaret Street from DEXUS (ASX:DXS) for AUD 300 million. An unknown buyer agreed to acquire A grade office building at 1 Margaret Street from DEXUS (ASX:DXS) for AUD 300 million on August 18, 2023. Settlement is expected to occur in October 2023. New Risk • Aug 16
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 9.8% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.8% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Dividend per share is over 8x cash flows per share. Reported Earnings • Aug 16
Full year 2023 earnings released Full year 2023 results: Revenue: AU$503.1m (down 71% from FY 2022). Net loss: AU$60.0m (down 104% from profit in FY 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, while revenues in the Office REITs industry in Australia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. New Risk • Jul 23
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.04% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.04% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (113% cash payout ratio). New Risk • Jun 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (113% cash payout ratio). Annuncio • Jun 16
An unknown buyer has exchanged contracts to acquire Axxess Corporate Park, Mount Waverley Victoria from DEXUS (ASX:DXS) for approximately AUD 310 million. An unknown buyer has exchanged contracts to acquire Axxess Corporate Park, Mount Waverley Victoria from DEXUS (ASX:DXS) for approximately AUD 310 million on June 15, 2023. The sale is subject to FIRB approval and is otherwise unconditional. Settlement is expected in early July 2023. Annuncio • Jun 10
An unknown buyer entered into an agreement to acquire CBD A Grade Office Building in Sydney from Dexus (ASX:DXS). An unknown buyer entered into an agreement to acquire CBD A Grade Office Building in Sydney from Dexus (ASX:DXS) for AUD 390 million on June 9, 2023. The sale will realize proceeds of AUD 393.1 million, reflecting a 17.2% discount to the December 2022 independent valuation. The sale is subject to FIRB approval and is otherwise unconditional. The settlement is expected in late July 2023. Recent Insider Transactions • Feb 24
Board Member recently bought AU$50k worth of stock On the 22nd of February, Elana Rubin bought around 6k shares on-market at roughly AU$8.61 per share. This transaction amounted to 46% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$845k more in shares than they have sold in the last 12 months. Reported Earnings • Feb 14
First half 2023 earnings released: EPS: AU$0.022 (vs AU$0.75 in 1H 2022) First half 2023 results: EPS: AU$0.022 (down from AU$0.75 in 1H 2022). Revenue: AU$586.3m (down 42% from 1H 2022). Net income: AU$23.1m (down 97% from 1H 2022). Profit margin: 3.9% (down from 79% in 1H 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.3% decline forecast for the REITs industry in Australia. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Annuncio • Feb 14
Dexus Announces Actual Dividend for the Six Month Ending December 31, 2022, Payable on February 28, 2023 Dexus announced the actual dividend of AUD 0.28000000 for the six month ending December 31, 2022. Payable on February 28, 2023 with record date of December 12, 2022 and Ex-date is December 29, 2022. Buying Opportunity • Jan 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.5%. The fair value is estimated to be AU$9.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years. Earnings per share has grown by 4.7%. For the next 3 years, revenue is forecast to decline by 8.5% per annum. Earnings is also forecast to decline by 21% per annum over the same time period. Recent Insider Transactions • Nov 04
Key Executive recently bought AU$77k worth of stock On the 31st of October, Warwick Negus bought around 10k shares on-market at roughly AU$7.74 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth AU$173k. Warwick has been a buyer over the last 12 months, purchasing a net total of AU$485k worth in shares. Recent Insider Transactions • Sep 08
Key Executive recently bought AU$173k worth of stock On the 31st of August, Wallace Sheppard bought around 20k shares on-market at roughly AU$8.64 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Wallace's only on-market trade for the last 12 months. Reported Earnings • Aug 19
Full year 2022 earnings released: FFO per share: AU$0.7 (vs AU$0.66 in FY 2021) Full year 2022 results: FFO per share: AU$0.7 (up from AU$0.66 in FY 2021). Revenue: AU$1.74b (up 9.7% from FY 2021). Funds from operations (FFO): AU$757.6m (up 5.7% from FY 2021). FFO margin: 44% (down from 45% in FY 2021). Over the next year, revenue is expected to shrink by 46% compared to a 23% decline forecast for the REITs industry in Australia. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Recent Insider Transactions • May 24
Board Member recently bought AU$79k worth of stock On the 18th of May, Mark Henry Ford bought around 7k shares on-market at roughly AU$10.74 per share. In the last 3 months, there was an even bigger purchase from another insider worth AU$225k. Insiders have collectively bought AU$357k more in shares than they have sold in the last 12 months. Recent Insider Transactions • May 12
Board Member recently bought AU$225k worth of stock On the 10th of May, Warwick Negus bought around 20k shares on-market at roughly AU$11.25 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Buying Opportunity • May 07
Now 22% undervalued Over the last 90 days, the stock is up 6.3%. The fair value is estimated to be AU$13.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Earnings per share has declined by 12%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings is also forecast to grow by 2.8% per annum over the same time period. Buying Opportunity • Mar 03
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 2.2%. The fair value is estimated to be AU$13.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.8% per annum over the last 3 years. Earnings per share has declined by 12% per annum over the last 3 years. Reported Earnings • Feb 18
First half 2022 earnings: EPS in line with analyst expectations despite revenue beat First half 2022 results: FFO: AU$1.02b per share (up from AU$0.34 in 1H 2021). Revenue: AU$1.02b (up 21% from 1H 2021). Funds from operations (FFO): AU$396.7m (up 5.6% from 1H 2021). FFO margin: 39% (down from 45% in 1H 2021). Revenue exceeded analyst estimates by 27%. Over the next year, revenue is expected to shrink by 50% compared to a 23% decline forecast for the industry in Australia. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Dec 23
Upcoming dividend of AU$0.28 per share Eligible shareholders must have bought the stock before 30 December 2021. Payment date: 28 February 2022. Trailing yield: 4.7%. Lower than top quartile of Australian dividend payers (5.6%). Higher than average of industry peers (3.6%). Executive Departure • Oct 07
Chief Financial Officer of Dexus Funds Management Limited Alison Harrop has left the company On the 30th of September, Alison Harrop's tenure as Chief Financial Officer of Dexus Funds Management Limited ended after 6.0 years in the role. We don't have any record of a personal shareholding under Alison's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 6.42 years. Reported Earnings • Aug 22
Full year 2021 earnings released: FFO AU$0.66 per share (vs AU$0.67 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: AU$1.58b (up 6.4% from FY 2020). Funds from operations (FFO): AU$717.0m (down 1.8% from FY 2020). FFO margin: 45% (down from 49% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Executive Departure • Jul 01
Independent Non-Executive Director of DEXUS Funds Management Limited Peter St. George has left the company On the 30th of June, Peter St. George's tenure as Independent Non-Executive Director of DEXUS Funds Management Limited ended after 12.2 years in the role. As of March 2021, Peter still personally held 30.57k shares (AU$276k worth at the time). Peter is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 6.08 years. Reported Earnings • Feb 11
First half 2021 earnings released: FFO AU$0.34 per share (vs AU$0.35 in 1H 2020) The company reported a mediocre first half result with weaker revenues, although earnings were flat and profit margins improved. First half 2021 results: Revenue: AU$838.1m (down 17% from 1H 2020). Funds from operations (FFO): AU$375.6m (flat on 1H 2020). FFO margin: 45% (up from 38% in 1H 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 01
New 90-day low: AU$8.86 The company is down 1.0% from its price of AU$8.94 on 04 November 2020. The Australian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$7.78 per share. Upcoming Dividend • Dec 23
Upcoming Dividend of AU$0.29 Per Share Will be paid on the 26th of February to those who are registered shareholders by the 30th of December. The trailing yield of 5.5% is in the top quartile of Australian dividend payers (5.1%), and it is higher than industry peers (3.7%). Annuncio • Nov 20
Dexus and CPP Investment Board Reportedly Looks to Offload Gold Tower Dexus (ASX:DXS) and Canada Pension Plan Investment Board (CPP Investment Board) are looking to offload Brisbane’s $300 million Gold Tower in the city’s largest office sale of the year. The Brisbane CBD office market has been quiet in the wake of the coronavirus hitting. Dexus and the Canadian fund now want to sell the 32 level A-grade commercial building in the heart of the city’s Golden Triangle at a time when few other Brisbane assets are for sale. Annuncio • Nov 18
China Investment Corporation completed the acquisition of additional 50% majority stake in Grosvenor Place Office Building in Sydney, Australia from Dexus (ASX:DXS) and DEXUS Office Partnership for approximately AUD 930 million. China Investment Corporation agreed to acquire additional 50% majority stake in Grosvenor Place Office Building in Sydney, Australia from from Dexus (ASX:DXS) and DEXUS Office Partnership fund managed by Dexus (ASX:DXS) during the week ended September 11, 2020.
China Investment Corporation completed the acquisition of additional 50% majority stake in Grosvenor Place Office Building in Sydney, Australia from Dexus (ASX:DXS) and DEXUS Office Partnership fund managed by Dexus (ASX:DXS) for approximately AUD 930 million on November 18, 2020. CIC is seeking Foreign Investment Review Board approval, with settlement expected in early 2021. The net sale proceeds will initially be used to repay debt. Is New 90 Day High Low • Nov 11
New 90-day high: AU$9.74 The company is up 14% from its price of AU$8.57 on 13 August 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$8.01 per share. Annuncio • Nov 02
Huge Linkage agreed to acquire 60 Miller Street, North Sydney from Dexus (ASX:DXS) for approximately AUD 270 million. Huge Linkage agreed to acquire 60 Miller Street, North Sydney from Dexus (ASX:DXS) for approximately AUD 270 million on November 2, 2020. The transaction is subject to FIRB approval. The transaction is expected to be completed in mid-2021. The net sale proceeds will initially be used to repay debt. Annuncio • Oct 20
Dexus (ASX:DXS) and The Healthcare Wholesale Property Fund, fund managed by Dexus entered into agreement to acquire Australian Bragg Centre in Adelaide from Commercial & General Pty Ltd for approximately AUD 450 million. Dexus (ASX:DXS) and The Healthcare Wholesale Property Fund, fund managed by Dexus entered into agreement to acquire Australian Bragg Centre in Adelaide from Commercial & General Pty Ltd for approximately AUD 450 million on October 20, 2020. The transaction is expected to settle on October 30, 2020. Is New 90 Day High Low • Oct 16
New 90-day high: AU$9.30 The company is up 2.0% from its price of AU$9.15 on 17 July 2020. The Australian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$8.18 per share. Annuncio • Sep 11
Deka Immobilien GmbH agreed to acquire A-Grade Office Tower in Melbourne CBD from Dexus Wholesale Property Fund, a fund managed by Dexus (ASX:DXS) for approximately AUD 440 million. Deka Immobilien GmbH agreed to acquire A-Grade Office Tower in Melbourne CBD from Dexus Wholesale Property Fund, a fund managed by Dexus (ASX:DXS) for approximately AUD 440 million on September 11, 2020. The transaction is subjected to Dexus receiving FIRB approval. The transaction is expected to close in mid-November. Proceeds from the sale would initially be used by Dexus to repay debt with capacity to recycle into higher-returning opportunities. Richard Butler, Mark Hansen, Luke Etherington and Sunny Patel of Cushman & Wakefield acted as broker in the transaction. Annuncio • Aug 20
Dexus to Report Fiscal Year 2021 Results on Aug 17, 2021 Dexus announced that they will report fiscal year 2021 results at 10:17 PM, GMT Standard Time on Aug 17, 2021 
