DXI Stock Overview

Dexus Industria REIT (ASX code: DXI) is a listed Australian real estate investment trust which is primarily invested in high-quality industrial warehouses. More details

DXI fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	3/6
Past Performance	3/6
Financial Health	3/6
Dividends	3/6

Rewards

Trading at 26.8% below our estimate of its fair value

Earnings are forecast to grow 22.54% per year

Earnings grew by 885.5% over the past year

Risk Analysis

Unstable dividend track record

Large one-off items impacting financial results

Community vs My Fair Value

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Dexus Industria REIT Competitors

Centuria Industrial REIT

ASX:CIP

AU$1.9b

Rural Funds Group

ASX:RFF

AU$707.3m

Centuria Capital Group

ASX:CNI

AU$1.4b

Charter Hall Social Infrastructure REIT

ASX:CQE

AU$1.1b

Price History & Performance

Summary of share price highs, lows and changes for Dexus Industria REIT
Historical stock prices
Current Share Price	AU$2.70
52 Week High	AU$3.08
52 Week Low	AU$2.46
Beta	1.01
1 Month Change	5.47%
3 Month Change	-1.46%
1 Year Change	-8.78%
3 Year Change	-12.76%
5 Year Change	28.27%
Change since IPO	-9.09%

Recent updates

Shareholder Returns

	DXI	AU Industrial REITs	AU Market
7D	3.8%	3.7%	0.7%
1Y	-8.8%	-9.3%	2.7%

Return vs Industry: DXI exceeded the Australian Industrial REITs industry which returned -10.3% over the past year.

Return vs Market: DXI underperformed the Australian Market which returned 3.4% over the past year.

Price Volatility

Is DXI's price volatile compared to industry and market?
DXI volatility
DXI Average Weekly Movement	2.9%
Industrial REITs Industry Average Movement	3.1%
Market Average Movement	9.4%
10% most volatile stocks in AU Market	16.7%
10% least volatile stocks in AU Market	4.2%

Stable Share Price: DXI has not had significant price volatility in the past 3 months compared to the Australian market.

Volatility Over Time: DXI's weekly volatility (3%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2013	n/a	Ross Du Vernet	www.dexus.com/investor-centre/listed-funds/dexus-industria-reit/

Dexus Industria REIT (ASX code: DXI) is a listed Australian real estate investment trust which is primarily invested in high-quality industrial warehouses. At 31 December 2022, the fund’s portfolio is valued at $1.6 billion and is located across the major Australian cities, providing sustainable income and capital growth prospects for security holders over the long term. The fund has a target gearing range of 30 – 40%.

Dexus Industria REIT Fundamentals Summary

How do Dexus Industria REIT's earnings and revenue compare to its market cap?
DXI fundamental statistics
Market cap	AU$859.80m
Earnings (TTM)	AU$22.64m
Revenue (TTM)	AU$111.71m

38.0x

P/E Ratio

7.7x

P/S Ratio

Is DXI overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
DXI income statement (TTM)
Revenue	AU$111.71m
Cost of Revenue	AU$19.00m
Gross Profit	AU$92.70m
Other Expenses	AU$70.07m
Earnings	AU$22.64m

Last Reported Earnings

Dec 31, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	0.071
Gross Margin	82.99%
Net Profit Margin	20.26%
Debt/Equity Ratio	26.8%

How did DXI perform over the long term?

See historical performance and comparison

Dividends

6.1%

Current Dividend Yield

92%

Payout Ratio

Does DXI pay a reliable dividends?

See DXI dividend history and benchmarks

When do you need to buy DXI by to receive an upcoming dividend?
Dexus Industria REIT dividend dates
Ex Dividend Date	Mar 28 2025
Dividend Pay Date	May 15 2025
Days until Ex dividend	42 days
Days until Dividend pay date	6 days

Does DXI pay a reliable dividends?

See DXI dividend history and benchmarks

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/05/07 15:30
End of Day Share Price	2025/05/07 00:00
Earnings	2024/12/31
Annual Earnings	2024/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Dexus Industria REIT is covered by 8 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Andrew MacFarlane	Bell Potter
James Druce	CLSA
David Pobucky	Macquarie Research

DXI Stock Overview

Rewards

Risk Analysis

Dexus Industria REIT Competitors

ASX:CIP

AU$1.9b

ASX:RFF

AU$707.3m

ASX:CNI

AU$1.4b

ASX:CQE

AU$1.1b

Price History & Performance

Recent News & Updates

Dexus Industria REIT Estimates Dividend for the Quarter Ending March 31, 2025, Payable on May 15, 2025

First half 2025 earnings released: FFO per share: AU$0.09 (vs AU$0.086 in 1H 2024)

High number of new and inexperienced directors

High number of new and inexperienced directors

Dexus Industria REIT to Report First Half, 2025 Results on Feb 12, 2025

An undisclosed buyer acquired 15.09469% stake in Dexus Industria REIT (ASX:DXI) from Growthpoint Properties Australia (ASX:GOZ).

Recent updates

Dexus Industria REIT Estimates Dividend for the Quarter Ending March 31, 2025, Payable on May 15, 2025

First half 2025 earnings released: FFO per share: AU$0.09 (vs AU$0.086 in 1H 2024)

High number of new and inexperienced directors

High number of new and inexperienced directors

Dexus Industria REIT to Report First Half, 2025 Results on Feb 12, 2025

An undisclosed buyer acquired 15.09469% stake in Dexus Industria REIT (ASX:DXI) from Growthpoint Properties Australia (ASX:GOZ).

Fourth quarter dividend of AU$0.041 announced

Full year 2024 earnings released: AU$0.011 loss per share (vs AU$0.02 loss in FY 2023)

Dexus Industria REIT Appoints Melanie Jane Bourke as Director

Now 20% undervalued

Now 23% undervalued after recent price drop

Now 21% undervalued after recent price drop

Dividend of AU$0.041 announced

Dexus Industria REIT to Report Fiscal Year 2024 Results on Aug 14, 2024

Upcoming dividend of AU$0.041 per share

Dividend of AU$0.041 announced

Now 20% undervalued

Now 21% undervalued

First half 2024 earnings released: FFO per share: AU$0.09 (vs AU$0.085 in 1H 2023)

Dexus Industria REIT, Annual General Meeting, Nov 21, 2024

Upcoming dividend of AU$0.041 per share at 5.8% yield

Dexus Industria REIT Announces Estimated Dividend for the Quarter Ending December 31, 2023, Payable on February 22, 2024

An unknown buyer exchanged contract to acquire Property at 32-40 Garden Street, Kilsyth, Victoria from Dexus Industria REIT (ASX:DXI) for AUD 31.5 million.

Now 21% undervalued after recent price drop

Now 20% undervalued after recent price drop

Dexus Industria REIT Announces Dividend for the Quarter Ending September 30, 2023, Payable on November 9, 2023

Full year 2023 earnings released: AU$0.02 loss per share (vs AU$0.53 profit in FY 2022)

Now 21% undervalued after recent price drop

An unknown buyer agreed to acquire 16-28 Quarry Road, Stapylton, Queensland from Dexus Industria REIT (ASX:DXI) for AUD 66.9 million.

Dexus Industria REIT Declares Dividend for the Quarter Ended 31 March 2023, Payable on 19 May 2023

Director recently bought AU$72k worth of stock

Now 20% undervalued

First half 2023 earnings released: FFO per share: AU$0.09 (vs AU$0.10 in 1H 2022)

Upcoming dividend of AU$0.041 per share

Less than half of directors are independent

Less than half of directors are independent

Upcoming dividend of AU$0.041 per share

Full year 2022 earnings released: EPS: AU$0.53 (vs AU$0.51 in FY 2021)

Dexus Industria REIT, Annual General Meeting, Nov 23, 2023

First half 2022 earnings: EPS in line with analyst expectations despite revenue beat

Upcoming dividend of AU$0.043 per share

Upcoming dividend of AU$0.043 per share

Full year 2021 earnings released: FFO AU$0.20 per share (vs AU$0.19 in FY 2020)

Upcoming dividend of AU$0.043 per share

Upcoming dividend of AU$0.043 per share

New 90-day high: AU$3.06

First half 2021 earnings released: FFO AU$0.10 per share (vs AU$0.10 in 1H 2020)

New 90-day high: AU$3.08

New 90-day high: AU$2.80

Upcoming Dividend of AU$0.043 Per Share

New 90-day high: AU$2.70

Shareholder Returns

Price Volatility

About the Company

Dexus Industria REIT Fundamentals Summary

38.0x

7.7x

Earnings & Revenue

Dividends