Dexus Industria REIT (AU:DXI)
ASX:DXI
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Dexus Industria REIT
(Sydney:DXI)
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Rating:70Outperform
Price Target:
AU$2.50
▼(-6.72% Downside)
Action:Upgraded
Date:11/01/25
Dexus Industria REIT's strong financial performance, particularly in profitability and cash flow, is a key strength, although the decline in revenue growth is a concern. The stock's valuation is attractive, with a low P/E ratio and high dividend yield. Technical indicators suggest a stable outlook, supporting the overall positive assessment.
Positive Factors
Cash generation
DXI's operating cash flow coverage ratio of 1.74 and 11.1% free cash flow growth show durable cash-generation. A FCF-to-net-income of 1.0 indicates earnings convert to actual cash, supporting distributions, capex and selective acquisitions without heavy new borrowing.
Negative Factors
Material revenue decline
A 32.7% revenue drop is a durable structural concern for an income-focused REIT. Sustained top-line decline erodes the rental income base, pressures distributable earnings and limits ability to fund capex or reduce leverage unless occupancy, lease renewals or rent levels improve.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
DXI's operating cash flow coverage ratio of 1.74 and 11.1% free cash flow growth show durable cash-generation. A FCF-to-net-income of 1.0 indicates earnings convert to actual cash, supporting distributions, capex and selective acquisitions without heavy new borrowing.
Read all positive factors
Dexus Industria REIT (DXI) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$755.21M
Dividend Yield6.09%
Average Volume (3M)823.07K
Price to Earnings (P/E)10.2
Beta (1Y)0.46
Revenue Growth-6.09%
EPS Growth41.37%
CountryAU
EmployeesN/A
SectorReal Estate
Sector Strength53
IndustryREIT - Industrial
Share Statistics
EPS (TTM)0.24
Shares Outstanding314,705,870
10 Day Avg. Volume716,115
30 Day Avg. Volume823,074
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.81
Price to Sales (P/S)11.48
P/FCF Ratio17.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$2.44Price Target Upside-9.14% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.17
Revenue Forecast (FY)AU$87.86M
Dexus Industria REIT Business Overview & Revenue Model
Company Description
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 p...
How the Company Makes Money
DXI makes money primarily by generating rental income from leasing its industrial and logistics properties to tenants. Revenue is typically derived from contracted lease payments (often with periodic rent reviews/escalations) and may include recov...
Dexus Industria REIT Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
70
Positive
Cash Flow
75
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 41.03M | 75.17M | 74.46M | 79.79M | 79.99M | 67.39M |
| Gross Profit | 22.38M | 55.35M | 55.27M | 59.22M | 59.15M | 49.48M |
| EBITDA | 76.78M | 97.34M | 54.90M | 13.25M | 180.81M | 129.16M |
| Net Income | 73.83M | 53.08M | -3.44M | -6.41M | 154.83M | 106.21M |
Balance Sheet | ||||||
| Total Assets | 1.42B | 1.46B | 1.38B | 1.56B | 1.72B | 1.11B |
| Cash, Cash Equivalents and Short-Term Investments | 4.47M | 4.02M | 5.26M | 6.44M | 11.25M | 19.60M |
| Total Debt | 343.65M | 354.64M | 302.81M | 414.41M | 514.10M | 381.46M |
| Total Liabilities | 337.68M | 390.40M | 340.46M | 460.67M | 562.22M | 418.14M |
| Stockholders Equity | 1.09B | 1.07B | 1.04B | 1.10B | 1.15B | 695.42M |
Cash Flow | ||||||
| Free Cash Flow | 35.72M | 50.63M | 50.60M | 55.09M | 27.60M | 45.84M |
| Operating Cash Flow | 48.60M | 50.63M | 58.88M | 61.94M | 46.18M | 45.84M |
| Investing Cash Flow | 30.88M | -46.49M | 106.07M | 92.87M | -474.00M | -162.75M |
| Financing Cash Flow | -79.36M | -5.20M | -165.97M | -154.88M | 427.63M | 119.04M |
Dexus Industria REIT Technical Analysis
Negative
2.68
Price Trends
2.40
Negative
2.45
Negative
2.58
Negative
Market Momentum
>-0.01
Positive
45.56
Neutral
40.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:DXI, the sentiment is Negative. The current price of 2.68 is above the 20-day moving average (MA) of 2.43, above the 50-day MA of 2.40, and above the 200-day MA of 2.58, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 45.56 is Neutral, neither overbought nor oversold. The STOCH value of 40.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:DXI.
Dexus Industria REIT Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | AU$250.91M | 13.21 | 7.81% | 3.11% | 15.66% | 8.80% | |
70 Outperform | AU$755.21M | 10.16 | 6.84% | 6.09% | -6.09% | 41.37% | |
70 Outperform | AU$1.86B | 13.12 | 5.63% | 4.85% | 2.44% | 42.65% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
57 Neutral | AU$924.94M | 42.40 | 0.74% | 7.11% | 4.64% | ― | |
54 Neutral | AU$1.15B | 10.57 | 7.18% | 6.12% | 22.59% | ― |
* Real Estate Sector Average
AU:DXI
Dexus Industria REIT
2.38
-0.33
-12.05%
AU:EGH
Eureka Group Holdings Limited
0.59
0.04
7.54%
AU:CMW
Cromwell Property Group
0.42
0.09
27.27%
AU:CIP
Centuria Industrial REIT
2.95
<0.01
0.24%
AU:ABG
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0.99
-0.13
-11.74%
Dexus Industria REIT Corporate Events
Dexus Industria REIT updates market on ongoing security buy-back
May 31, 2026
Dexus Industria REIT has provided an updated notice to the ASX regarding its ongoing on-market buy-back of fully paid stapled securities trading under the code DXI. The trust reported that it had repurchased a cumulative 2,693,527 securities prior...
Dexus Industria REIT Cancels 1.28 Million Units in On-Market Buy-Back
May 31, 2026
Dexus Industria REIT has cancelled 1,283,557 fully paid stapled securities as part of an on-market buy-back completed on 29 May 2026. The reduction in issued capital may enhance per-security metrics for remaining investors and signals ongoing capi...
Dexus Industria REIT Updates Market on Progress of On-Market Buy-Back
May 28, 2026
Dexus Industria REIT has provided an updated notification to the ASX on its ongoing on-market buy-back of fully paid stapled securities under code DXI. The trust reported that it had repurchased a total of 2,564,029 securities before the previous ...
Dexus Industria REIT Reports Ongoing Daily On‑Market Buy‑Back
May 26, 2026
Dexus Industria REIT has reported an on-market buy-back of its fully paid ordinary stapled securities, continuing a previously announced capital management program first notified in March 2026. The REIT disclosed that it had repurchased a cumulati...
Dexus Industria REIT reshapes board as executive director steps down
May 26, 2026
Dexus Industria REIT, a listed Australian real estate investment trust, primarily invests in high-quality industrial warehouses across the country’s major cities, aiming to deliver sustainable income and long-term capital growth to its secur...
Dexus Industria REIT Continues On-Market Securities Buy-Back
May 26, 2026
Dexus Industria REIT, an ASX-listed industrial property trust trading under ticker DXI, invests in a portfolio of industrial and associated assets for income-focused unitholders. The stapled structure comprises fully paid ordinary units in several...
Dexus Industria REIT Reports Ongoing On‑Market Buy‑Back Activity
May 21, 2026
Dexus Industria REIT has issued an updated notification to the ASX detailing the progress of its on‑market buy‑back of fully paid stapled securities. As of 21 May 2026, the trust reported that it had repurchased a total of 1,992,024 se...
Dexus Industria REIT Updates Market on Progress of On‑Market Buy-Back
May 12, 2026
Dexus Industria REIT has provided an updated notification regarding its on-market buy-back of fully paid stapled securities traded under the ASX code DXI. The latest filing confirms that the trust is continuing the buy-back program first notified ...
Dexus Industria REIT Continues On-Market Buy-Back of Stapled Securities
May 11, 2026
Dexus Industria REIT has updated the market on its ongoing on-market buy-back program for its fully paid stapled securities, disclosing that it had repurchased a total of 1,785,277 securities prior to the latest trading day and bought back a furth...
Dexus Industria REIT Updates Market on Progress of On‑Market Buy‑Back
May 10, 2026
Dexus Industria REIT has provided an updated notification to the ASX regarding its ongoing on-market buy-back of fully paid ordinary stapled securities, coded DXI. The latest daily report shows that a total of 1,706,320 securities had been repurch...
Dexus Industria REIT updates market on ongoing on-market buy-back
May 8, 2026
Dexus Industria REIT has provided an updated notification to the ASX regarding its ongoing on-market buy-back of fully paid stapled securities under code DXI. The trust reported that it had repurchased a cumulative 1,663,863 securities before the ...
Dexus Industria REIT Updates Market on Progress of On-Market Buy-Back
May 5, 2026
Dexus Industria REIT has provided an updated notification to the ASX on its ongoing on-market buy-back of fully paid stapled securities under code DXI. The trust reported that a total of 1,575,533 securities had been repurchased before the previou...
Dexus Industria REIT Reports Daily Progress on On-Market Buy-Back
May 4, 2026
Dexus Industria REIT has provided an updated notification to the ASX regarding its on-market buy-back of fully paid ordinary stapled securities under code DXI. The trust reported that a total of 1,503,736 securities had been bought back prior to t...
Dexus Industria REIT Reports Daily Progress on On‑Market Buy‑Back
May 3, 2026
Dexus Industria REIT has provided an updated notification to the ASX on its ongoing on-market buy-back of fully paid ordinary stapled securities under code DXI. The update records that a total of 1,428,794 securities had been repurchased prior to ...
Dexus Industria REIT Cancels 1.28 Million Securities After On‑Market Buy‑Back
May 1, 2026
Dexus Industria REIT has cancelled 1,280,472 fully paid ordinary stapled securities following an on‑market buy‑back completed on 30 April 2026. The reduction in issued capital may slightly enhance the value and earnings per security fo...
Dexus Industria REIT Updates Daily On‑Market Buy‑Back Activity
Apr 30, 2026
Dexus Industria REIT has provided an updated notification to the ASX regarding its on‑market buy‑back of fully paid stapled securities under code DXI. The update confirms that a total of 1,356,452 securities had been repurchased prior ...
Dexus Industria REIT Reports Daily Progress on On-Market Buy-Back
Apr 30, 2026
Dexus Industria REIT has provided an updated notification to the ASX on its ongoing on-market buy-back of fully paid stapled securities under the code DXI. The trust reported that a total of 1,280,472 securities had been repurchased prior to the l...
Dexus Industria REIT Continues Daily On‑Market Buy‑Back of DXI Units
Apr 22, 2026
Dexus Industria REIT, an Australian-listed real estate investment trust trading under the ticker DXI, provides investors exposure to a portfolio of industrial and associated commercial properties via fully paid ordinary stapled securities. Its uni...
Dexus Industria REIT Updates Daily On‑Market Buy‑Back Activity
Apr 21, 2026
Dexus Industria REIT has provided an updated notification on its on-market buy-back program for its fully paid ordinary stapled securities traded under the ASX code DXI. The update records that a total of 993,145 securities had been repurchased be...
Dexus Industria REIT Reports Daily Progress on On‑Market Buy-Back
Apr 20, 2026
Dexus Industria REIT has provided an updated notification of its on-market buy-back program for its fully paid stapled securities trading under ASX code DXI. The trust reported that a cumulative 901,799 securities had been bought back prior to the...
Dexus Industria REIT Reports Daily Progress on On-Market Buy-Back
Apr 19, 2026
Dexus Industria REIT has disclosed an update to its on-market buy-back of fully paid stapled securities, listed under the ASX code DXI. The trust reported that it had repurchased a total of 833,706 securities prior to the latest trading day and a ...
Dexus Industria REIT Continues Daily On‑Market Buy‑Back Program
Apr 16, 2026
Dexus Industria REIT has provided a daily update on its on-market buy-back of fully paid stapled securities, reporting that a total of 722,995 securities had been repurchased prior to the latest trading day. The trust bought back a further 110,711...
Dexus Industria REIT Refines Details of On-Market Security Buy-Back
Apr 15, 2026
Dexus Industria REIT has issued an updated notification to the ASX regarding its on-market buy-back of fully paid ordinary stapled securities trading under the DXI code. The update removes information previously disclosed in section 3D.1 of the or...
Dexus Industria REIT Reports Ongoing Daily On-Market Buy-Back Activity
Apr 14, 2026
Dexus Industria REIT has provided an updated notification on its on-market buy-back of fully paid stapled securities, disclosing that a total of 590,995 securities had been repurchased prior to the latest reporting day. The REIT reported that it b...
State Street Ceases to Be Substantial Holder in Dexus Industria REIT
Apr 14, 2026
State Street Corporation, through various global asset management and trustee subsidiaries, has lodged a notice that it has ceased to be a substantial holder in Dexus Industria REIT. The change reflects a reduction in State Street’s aggregat...
Dexus Industria REIT Reports Ongoing On‑Market Buy‑Back Activity
Apr 13, 2026
Dexus Industria REIT has provided an updated notification on its on‑market buy‑back of fully paid stapled securities, reporting that a total of 501,253 units had been repurchased before the previous trading day. The trust bought back a...
Dexus Industria REIT Updates Market on Ongoing On-Market Buy-Back
Apr 9, 2026
Dexus Industria REIT has provided an updated notification to the ASX regarding its on-market buy-back of fully paid stapled securities under the code DXI. The trust reported that a total of 432,667 securities had been repurchased prior to the late...
Dexus Industria REIT Updates Market on Progress of On‑Market Buy‑Back
Apr 6, 2026
Dexus Industria REIT has provided an updated notification to the ASX on its ongoing on-market buy-back of fully paid stapled securities. The trust reported that a total of 155,764 securities had been repurchased prior to the most recent trading da...
Dexus Industria REIT Reports Daily Progress on On-Market Buy-Back
Apr 1, 2026
Dexus Industria REIT has provided an updated notification to the ASX regarding its on-market buy-back of fully paid stapled securities under code DXI. The update, dated 1 April 2026, confirms that 59,255 securities were repurchased on the previous...
Dexus Industria REIT Confirms Broker for On‑Market Buy‑Back
Mar 30, 2026
Dexus Industria REIT has updated the market on its previously announced on‑market buy‑back of its fully paid stapled securities. The trust confirmed the appointment of UBS Securities Australia Limited as the broker responsible for exec...
Dexus Industria REIT Declares Quarterly Distribution for March 2026
Mar 9, 2026
Dexus Industria REIT has declared a quarterly distribution of AUD 0.0415 per fully paid stapled security for the period ending 31 March 2026, reinforcing its strategy of providing regular income to investors from its industrial property portfolio....
Dexus Industria REIT Launches On‑Market Buy‑Back of Stapled Securities
Mar 8, 2026
Dexus Industria REIT has announced an on-market buy-back of its fully paid ordinary stapled securities trading under ASX code DXI. The notification, lodged on 9 March 2026, confirms the trust will repurchase units on market, signalling active capi...
Dexus Industria REIT Launches 2.5% On‑Market Securities Buy‑Back
Mar 8, 2026
Dexus Industria REIT has announced plans for an on‑market buy‑back targeting an initial 2.5% of its securities on issue. The fund’s manager said the buy‑back is attractive at current trading levels and is intended to enhanc...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.