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Dexus Industria REIT (AU:DXI)
ASX:DXI
Australian Market
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Dexus Industria REIT (DXI) AI Stock Analysis

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AU:DXI

Dexus Industria REIT

(Sydney:DXI)

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Outperform 70 (OpenAI - 4o)
Rating:70Outperform
Price Target:
AU$3.00
▲(7.14% Upside)
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.

Dexus Industria REIT (DXI) vs. iShares MSCI Australia ETF (EWA)

Dexus Industria REIT Business Overview & Revenue Model

Company DescriptionDexus Industria REIT (DXI) is a real estate investment trust (REIT) that primarily focuses on investing in industrial properties across Australia. The company aims to provide sustainable income and capital growth by owning, managing, and developing a diversified portfolio of high-quality industrial assets. DXI's core offerings include logistics facilities, warehouses, and other industrial properties that cater to various sectors, including logistics, manufacturing, and retail distribution.
How the Company Makes MoneyDexus Industria REIT generates revenue primarily through leasing its industrial properties to tenants, which provides a stable income stream. The company enters into long-term lease agreements with tenants, ensuring consistent rental income. Key revenue streams include base rent from tenants, as well as additional income from outgoings and property management services. Additionally, DXI may engage in development projects, enhancing its portfolio and potentially increasing asset value. Strategic partnerships with tenants and other stakeholders in the industrial sector contribute to its earnings by fostering long-term relationships and securing occupancy in its properties.

Dexus Industria REIT Financial Statement Overview

Summary
Dexus Industria REIT demonstrates solid profitability and cash flow generation, with a strong gross profit margin and improved net profit margin. The balance sheet is stable with low leverage, and cash flow metrics indicate effective cash management. However, the significant decline in revenue growth is a concern that needs to be addressed to sustain long-term growth.
Income Statement
65
Positive
Dexus Industria REIT shows a strong gross profit margin of over 73%, indicating efficient cost management. However, the revenue growth rate has been negative, with a significant decline of 32.7% in the latest year, which is a concern. The net profit margin has improved significantly from a negative position to over 70%, reflecting a turnaround in profitability. Despite this, the EBIT and EBITDA margins are unusually high, suggesting potential non-recurring items or accounting adjustments.
Balance Sheet
70
Positive
The company's debt-to-equity ratio is relatively low at 0.33, indicating a conservative leverage position. The return on equity has improved but remains modest at 4.96%. The equity ratio is strong, suggesting a solid capital structure with a good proportion of equity financing. Overall, the balance sheet reflects financial stability with manageable debt levels.
Cash Flow
75
Positive
Operating cash flow is robust, with a coverage ratio of 1.74, indicating strong cash generation relative to net income. Free cash flow has grown by 11.1%, showing positive cash flow dynamics. The free cash flow to net income ratio is 1.0, suggesting that the company is effectively converting its earnings into cash. Overall, the cash flow position is strong, supporting the company's operational and financial flexibility.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue75.17M75.17M74.46M79.79M79.99M67.39M
Gross Profit55.35M55.35M55.27M59.22M59.15M49.48M
EBITDA23.49M97.34M54.90M13.25M180.81M129.16M
Net Income62.30M53.08M-3.44M-6.41M154.83M106.21M
Balance Sheet
Total Assets1.46B1.46B1.38B1.56B1.72B1.11B
Cash, Cash Equivalents and Short-Term Investments4.02M4.02M5.26M6.44M11.25M19.60M
Total Debt354.64M354.64M302.81M414.41M514.10M381.46M
Total Liabilities390.40M390.40M340.46M460.67M562.22M418.14M
Stockholders Equity1.07B1.07B1.04B1.10B1.15B695.42M
Cash Flow
Free Cash Flow43.07M50.63M50.60M55.09M27.60M45.84M
Operating Cash Flow50.63M50.63M58.88M61.94M46.18M45.84M
Investing Cash Flow-46.49M-46.49M106.07M92.87M-474.00M-162.75M
Financing Cash Flow-5.20M-5.20M-165.97M-154.88M427.63M119.04M

Dexus Industria REIT Technical Analysis

Technical Analysis Sentiment
Negative
Last Price2.80
Price Trends
50DMA
2.83
Negative
100DMA
2.79
Positive
200DMA
2.71
Positive
Market Momentum
MACD
>-0.01
Positive
RSI
42.26
Neutral
STOCH
22.14
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 2.8 is below the 20-day moving average (MA) of 2.84, below the 50-day MA of 2.83, and above the 200-day MA of 2.71, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 42.26 is Neutral, neither overbought nor oversold. The STOCH value of 22.14 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

Overall Rating
UnderperformOutperform
Sector (65)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
74
Outperform
AU$230.35M10.3110.17%2.86%11.30%18.93%
70
Outperform
AU$894.70M10.637.99%5.87%-8.67%
70
Outperform
AU$2.20B16.755.38%4.65%4.39%176.52%
65
Neutral
$2.17B12.193.79%4.94%3.15%1.96%
60
Neutral
AU$3.19B13.316.61%4.89%10.59%0.77%
57
Neutral
AU$1.07B39.871.70%7.20%4.69%
56
Neutral
AU$1.22B-20.76-9.33%6.52%-5.64%89.16%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:DXI
Dexus Industria REIT
2.80
0.34
13.82%
AU:EGH
Eureka Group Holdings Limited
0.51
-0.09
-15.00%
AU:CMW
Cromwell Property Group
0.46
0.10
27.42%
AU:CIP
Centuria Industrial REIT
3.53
0.67
23.43%
AU:NSR
National Storage REIT
2.27
-0.09
-3.81%
AU:ABG
Abacus Property Group
1.18
0.05
4.42%

Dexus Industria REIT Corporate Events

Dexus Industria REIT Updates Principal Business Location
Oct 31, 2025

Dexus Industria REIT has announced a change in the principal place of business for Dexus Asset Management Limited and related entities to Level 30, 50 Bridge Street, Sydney NSW 2000. This change is part of the company’s ongoing operations, with all other details remaining unchanged, indicating a stable operational environment for stakeholders.

The most recent analyst rating on (AU:DXI) stock is a Buy with a A$3.00 price target. To see the full list of analyst forecasts on Dexus Industria REIT stock, see the AU:DXI Stock Forecast page.

Dexus Industria REIT Announces 2025 AGM Details
Oct 15, 2025

Dexus Industria REIT has announced the details of its 2025 Annual General Meeting, scheduled for November 20, 2025. The meeting will be held in a hybrid format, allowing security holders to attend either in person or virtually. This approach reflects the company’s commitment to accessibility and engagement with its stakeholders. The AGM will provide an opportunity for security holders to engage with the company’s management and discuss its strategic direction, potentially impacting its operations and market positioning.

The most recent analyst rating on (AU:DXI) stock is a Buy with a A$3.00 price target. To see the full list of analyst forecasts on Dexus Industria REIT stock, see the AU:DXI Stock Forecast page.

Dexus Industria REIT Expands Melbourne Portfolio with $47.5 Million Acquisition
Oct 2, 2025

Dexus Industria REIT has announced a strategic acquisition of two industrial assets in Dandenong South, Victoria, for $47.5 million, enhancing its Melbourne industrial portfolio. This acquisition, funded through existing debt facilities, is expected to increase gearing slightly but remain within the target range, and it underscores DXI’s focus on industrial assets, promising strong rental growth potential due to favorable market conditions.

The most recent analyst rating on (AU:DXI) stock is a Buy with a A$3.00 price target. To see the full list of analyst forecasts on Dexus Industria REIT stock, see the AU:DXI Stock Forecast page.

Dexus Industria REIT Announces New Dividend Distribution
Sep 16, 2025

Dexus Industria REIT has announced a new dividend distribution for its fully paid ordinary units stapled securities, with a distribution amount of AUD 0.0415 per unit. The distribution, related to the quarter ending September 30, 2025, will be paid on November 13, 2025, impacting stakeholders by providing a return on investment and potentially influencing the company’s market positioning.

The most recent analyst rating on (AU:DXI) stock is a Buy with a A$3.00 price target. To see the full list of analyst forecasts on Dexus Industria REIT stock, see the AU:DXI Stock Forecast page.

Dexus Industria REIT Appoints New Fund Manager to Drive Growth
Sep 12, 2025

Dexus Industria REIT has appointed Jason Weate as the new Fund Manager and Head of Listed Funds, effective from November 1, 2025. With 20 years of experience in commercial real estate and funds management, Jason’s leadership is expected to drive the next phase of growth for DXI, enhancing its investment proposition and leveraging Dexus’s platform to improve returns for security holders.

The most recent analyst rating on (AU:DXI) stock is a Buy with a A$3.00 price target. To see the full list of analyst forecasts on Dexus Industria REIT stock, see the AU:DXI Stock Forecast page.

Dexus Industria REIT Advances Brisbane Technology Park Divestment
Sep 1, 2025

Dexus Industria REIT has completed the first transaction in its plan to divest 11 out of 13 properties at Brisbane Technology Park in Queensland, with the remaining two properties’ divestment pending capital raising and expected to settle by November 2025. This move is part of a strategic shift that may impact the company’s operations and market positioning, potentially affecting stakeholders by altering the asset composition and focus of the REIT.

The most recent analyst rating on (AU:DXI) stock is a Buy with a A$3.00 price target. To see the full list of analyst forecasts on Dexus Industria REIT stock, see the AU:DXI Stock Forecast page.

Dexus Industria REIT Releases 2025 Corporate Governance Statement
Aug 12, 2025

Dexus Industria REIT has released its corporate governance statement for the financial year ending June 2025, which is available on their website. The statement outlines the company’s adherence to the ASX Corporate Governance Council’s principles, highlighting its commitment to transparency and accountability in its management and oversight practices.

The most recent analyst rating on (AU:DXI) stock is a Buy with a A$3.32 price target. To see the full list of analyst forecasts on Dexus Industria REIT stock, see the AU:DXI Stock Forecast page.

Dexus Industria REIT Releases 2025 Annual Report
Aug 12, 2025

Dexus Industria REIT has released its 2025 Annual Report, which will be distributed to security holders in September 2025. This report reflects the company’s ongoing commitment to providing sustainable income and capital growth, reinforcing its strong position in the industrial real estate market across Australia.

The most recent analyst rating on (AU:DXI) stock is a Buy with a A$3.32 price target. To see the full list of analyst forecasts on Dexus Industria REIT stock, see the AU:DXI Stock Forecast page.

Dexus Industria REIT Announces 2025 Annual Results
Aug 12, 2025

Dexus Industria REIT has released its 2025 Annual Results presentation, highlighting the fund’s continued focus on industrial warehouse investments across Australia. The release underscores the trust’s strategic positioning for long-term income and growth, with a target gearing range of 30–40%, and reflects its commitment to providing value to stakeholders through expert management by Dexus.

The most recent analyst rating on (AU:DXI) stock is a Buy with a A$3.32 price target. To see the full list of analyst forecasts on Dexus Industria REIT stock, see the AU:DXI Stock Forecast page.

Dexus Industria REIT Reports Strong FY25 Results and Strategic Transition
Aug 12, 2025

Dexus Industria REIT (DXI) reported a strong financial performance for the year ended June 30, 2025, with upgraded guidance and significant property valuation gains leading to a net profit after tax of $84.2 million. The company achieved a 4.6% increase in Funds From Operations per security and maintained high occupancy levels across its portfolio. DXI is transitioning towards a focused industrial REIT by divesting non-core assets and acquiring growth-oriented properties, which is expected to enhance portfolio quality and capitalize on favorable industrial market conditions. The company remains committed to sustainability, maintaining carbon neutrality and implementing renewable energy initiatives across its assets.

The most recent analyst rating on (AU:DXI) stock is a Buy with a A$3.32 price target. To see the full list of analyst forecasts on Dexus Industria REIT stock, see the AU:DXI Stock Forecast page.

Dexus Industria REIT Reports Strong Financial Turnaround
Aug 12, 2025

Dexus Industria REIT reported a net profit of $84.2 million for the year ended June 30, 2025, marking a significant turnaround from the previous year’s loss. Despite a slight decrease in revenue, the company’s funds from operations increased by 4.6%, and distributions to security holders remained stable. The REIT’s total assets grew by 6%, while its market capitalization saw a slight decline. The announcement reflects the company’s stable financial performance and strategic positioning in the industrial real estate sector, providing confidence to its stakeholders.

The most recent analyst rating on (AU:DXI) stock is a Buy with a A$3.32 price target. To see the full list of analyst forecasts on Dexus Industria REIT stock, see the AU:DXI Stock Forecast page.

Dexus Industria REIT Divests Business Park Assets to Focus on Industrial Growth
Aug 6, 2025

Dexus Industria REIT has announced the divestment of its final business park assets at Brisbane Technology Park for $155.5 million, marking a significant shift towards a focused industrial property REIT. This strategic move, structured in two transactions, is expected to enhance DXI’s portfolio metrics, reduce gearing, and align with its long-term strategy to drive growth through reinvestment in industrial assets. The divestment is anticipated to be initially dilutive to Funds from Operations but is expected to be broadly neutral after accounting for capital expenditure. The transactions will position DXI to capitalize on growth-oriented industrial opportunities, such as the recent Glendenning acquisition.

The most recent analyst rating on (AU:DXI) stock is a Buy with a A$3.32 price target. To see the full list of analyst forecasts on Dexus Industria REIT stock, see the AU:DXI Stock Forecast page.

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.

Disclaimer

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.Date of analysis: Nov 01, 2025