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ADI

Dexus Industria REITASX:ADI Stock Report

Market Cap

AU$1.1b

7D

-2.3%

1Y

28.7%

Updated

22 Oct, 2021

Data

Company Financials +
ADI fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance3/6
Financial Health2/6
Dividends3/6

ADI Overview

APN Industria REIT (‘Industria) (ASX code: ADI) is a listed Australian real estate investment trust which owns interests in office and industrial properties that provide functional and affordable workspaces for business.

Price History & Performance

Summary of all time highs, changes and price drops for Dexus Industria REIT
Historical stock prices
Current Share PriceAU$3.41
52 Week HighAU$2.60
52 Week LowAU$3.87
Beta0.73
1 Month Change-8.82%
3 Month Change2.40%
1 Year Change28.68%
3 Year Change31.15%
5 Year Change61.61%
Change since IPO81.87%

Recent News & Updates

Shareholder Returns

ADIAU REITsAU Market
7D-2.3%1.9%0.7%
1Y28.7%24.2%21.4%

Return vs Industry: ADI exceeded the Australian REITs industry which returned 24.2% over the past year.

Return vs Market: ADI exceeded the Australian Market which returned 21.4% over the past year.

Price Volatility

Is ADI's price volatile compared to industry and market?
ADI volatility
ADI Beta0.73
Industry Beta0.86
Market Beta1

Stable Share Price: ADI is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: ADI's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1996n/an/ahttps://www.apngroup.com.au/fund/apn-industria-reit

APN Industria REIT (‘Industria) (ASX code: ADI) is a listed Australian real estate investment trust which owns interests in office and industrial properties that provide functional and affordable workspaces for business. Industria’s $824 million portfolio of 32 properties located across the major Australian cities provides sustainable income and capital growth prospects for security holders over the long term. Industria has a target gearing band of 30 – 40%, providing flexibility for future growth without compromising the low-risk approach to management.

Dexus Industria REIT Fundamentals Summary

How do Dexus Industria REIT's earnings and revenue compare to its market cap?
ADI fundamental statistics
Market CapAU$1.09b
Earnings (TTM)AU$106.21m
Revenue (TTM)AU$70.85m

10.2x

P/E Ratio

15.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ADI income statement (TTM)
RevenueAU$70.85m
Cost of RevenueAU$17.92m
Gross ProfitAU$52.94m
Expenses-AU$53.27m
EarningsAU$106.21m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.33
Gross Margin74.71%
Net Profit Margin149.90%
Debt/Equity Ratio50.0%

How did ADI perform over the long term?

See historical performance and comparison

Dividends

5.1%

Current Dividend Yield

84%

Payout Ratio

Valuation

Is Dexus Industria REIT undervalued compared to its fair value and its price relative to the market?

10.23x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ADI (A$3.41) is trading above our estimate of fair value (A$3.02)

Significantly Below Fair Value: ADI is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: ADI is poor value based on its PE Ratio (10.2x) compared to the Australian REITs industry average (9.8x).

PE vs Market: ADI is good value based on its PE Ratio (10.2x) compared to the Australian market (19.8x).


Price to Earnings Growth Ratio

PEG Ratio: ADI's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: ADI is overvalued based on its PB Ratio (2.1x) compared to the AU REITs industry average (1.2x).


Future Growth

How is Dexus Industria REIT forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-23.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ADI's earnings are forecast to decline over the next 3 years (-23.9% per year).

Earnings vs Market: ADI's earnings are forecast to decline over the next 3 years (-23.9% per year).

High Growth Earnings: ADI's earnings are forecast to decline over the next 3 years.

Revenue vs Market: ADI's revenue (2.7% per year) is forecast to grow slower than the Australian market (5.3% per year).

High Growth Revenue: ADI's revenue (2.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ADI's Return on Equity is forecast to be low in 3 years time (5.9%).


Past Performance

How has Dexus Industria REIT performed over the past 5 years?

9.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ADI has a large one-off gain of A$78.2M impacting its June 30 2021 financial results.

Growing Profit Margin: ADI's current net profit margins are higher than last year (86.2%).


Past Earnings Growth Analysis

Earnings Trend: ADI's earnings have grown by 9.4% per year over the past 5 years.

Accelerating Growth: ADI's earnings growth over the past year (106.4%) exceeds its 5-year average (9.4% per year).

Earnings vs Industry: ADI earnings growth over the past year (106.4%) underperformed the REITs industry 106.4%.


Return on Equity

High ROE: ADI's Return on Equity (17.1%) is considered low.


Financial Health

How is Dexus Industria REIT's financial position?


Financial Position Analysis

Short Term Liabilities: ADI's short term assets (A$23.2M) do not cover its short term liabilities (A$128.9M).

Long Term Liabilities: ADI's short term assets (A$23.2M) do not cover its long term liabilities (A$289.2M).


Debt to Equity History and Analysis

Debt Level: ADI's debt to equity ratio (50%) is considered high.

Reducing Debt: ADI's debt to equity ratio has reduced from 55% to 50% over the past 5 years.

Debt Coverage: ADI's debt is not well covered by operating cash flow (13.2%).

Interest Coverage: ADI's interest payments on its debt are well covered by EBIT (5.9x coverage).


Balance Sheet


Dividend

What is Dexus Industria REIT current dividend yield, its reliability and sustainability?

5.07%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ADI's dividend (5.07%) is higher than the bottom 25% of dividend payers in the Australian market (2.27%).

High Dividend: ADI's dividend (5.07%) is low compared to the top 25% of dividend payers in the Australian market (5.31%).


Stability and Growth of Payments

Stable Dividend: ADI has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: ADI has only been paying a dividend for 7 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (84.3%), ADI's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ADI's dividends in 3 years are forecast to be covered by earnings (90.3% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.0yrs

Average management tenure


CEO

Dexus Industria REIT has no CEO, or we have no data on them.


Leadership Team

Experienced Management: ADI's management team is not considered experienced ( 2 years average tenure), which suggests a new team.


Board Members

Experienced Board: ADI's board of directors are considered experienced (9.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 61.3%.


Top Shareholders

Company Information

Dexus Industria REIT's employee growth, exchange listings and data sources


Key Information


Location

  • Dexus Industria REIT
  • Level 30
  • 101 Collins Street
  • Melbourne
  • Victoria
  • 3000
  • Australia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/22 07:01
End of Day Share Price2021/10/22 00:00
Earnings2021/06/30
Annual Earnings2021/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.