Dexus Industria REIT (DXI) AI Stock Analysis

• Market Cap: AU$840.77M
• Dividend Yield: 6.09%
• Average Volume (3M): 823.07K
• Price to Earnings (P/E): 10.1
• Beta (1Y): 0.42
• Revenue Growth: -8.67%
• EPS Growth: N/A
• Country: AU
• Employees: N/A
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Industrial
• EPS (TTM): 0.10
• Shares Outstanding: 317,269,900
• 10 Day Avg. Volume: 716,115
• 30 Day Avg. Volume: 823,074
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.81
• Price to Sales (P/S): 11.48
• P/FCF Ratio: 17.05
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: AU$3.00 ▲(11.94% 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.

Positive Factors

Cash Flow Generation

Strong cash flow generation indicates effective cash management, providing the company with flexibility to invest in growth and manage debt.

Balance Sheet Health

A low debt-to-equity ratio reflects conservative leverage, enhancing financial stability and reducing risk in volatile markets.

Profitability

Improved profitability margins indicate efficient operations and cost management, which can sustain long-term earnings growth.

Negative Factors

Revenue Decline

A significant decline in revenue growth poses a challenge to sustaining long-term business expansion and market competitiveness.

Revenue Growth

Declining revenue growth can impact the company's ability to reinvest in its portfolio and maintain its competitive position in the market.

Earnings Volatility

High EBIT and EBITDA margins due to non-recurring items may not be sustainable, leading to potential earnings volatility in the future.

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 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. Industria is managed by APN Property Group, a specialist real estate investment manager established in 1996, and governed by a majority independent Board.

How the Company Makes Money

Dexus 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

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

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

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.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	75.17M	75.17M	74.46M	79.79M	79.99M	67.39M
Gross Profit	55.35M	55.35M	55.27M	59.22M	59.15M	49.48M
EBITDA	23.49M	97.34M	54.90M	13.25M	180.81M	129.16M
Net Income	62.30M	53.08M	-3.44M	-6.41M	154.83M	106.21M
Balance Sheet
Total Assets	1.46B	1.46B	1.38B	1.56B	1.72B	1.11B
Cash, Cash Equivalents and Short-Term Investments	4.02M	4.02M	5.26M	6.44M	11.25M	19.60M
Total Debt	354.64M	354.64M	302.81M	414.41M	514.10M	381.46M
Total Liabilities	390.40M	390.40M	340.46M	460.67M	562.22M	418.14M
Stockholders Equity	1.07B	1.07B	1.04B	1.10B	1.15B	695.42M
Cash Flow
Free Cash Flow	43.07M	50.63M	50.60M	55.09M	27.60M	45.84M
Operating Cash Flow	50.63M	50.63M	58.88M	61.94M	46.18M	45.84M
Investing Cash Flow	-46.49M	-46.49M	106.07M	92.87M	-474.00M	-162.75M
Financing Cash Flow	-5.20M	-5.20M	-165.97M	-154.88M	427.63M	119.04M

Dexus Industria REIT Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.68
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 2.68, below the 50-day MA of 2.73, and below the 200-day MA of 2.70, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 42.43 is Neutral, neither overbought nor oversold. The STOCH value of 15.38 is Positive, 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DXI	70 Outperform	AU$840.77M	10.06	7.99%	6.09%	-8.67%	―
CIP	70 Outperform	AU$2.08B	15.94	5.38%	4.85%	4.39%	176.52%
EGH	67 Neutral	AU$204.76M	9.06	10.17%	3.11%	11.30%	18.93%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
NSR	62 Neutral	AU$3.85B	16.06	6.61%	3.99%	10.59%	0.77%
ABG	57 Neutral	AU$1.05B	39.20	1.70%	7.11%	4.69%	―
CMW	54 Neutral	AU$1.20B	-20.54	-9.33%	6.12%	-5.64%	89.16%

Dexus Industria REIT Corporate Events

Dexus Industria REIT Reports $14.9 Million Portfolio Valuation Uplift

Dexus Industria REIT announced a net valuation uplift of $14.9 million for its portfolio, representing a 1.0% increase on forecast book values, with a slight expansion in the weighted average capitalisation rate. This growth highlights the strength of DXI’s well-located assets and investor confidence in the industrial sector, with further valuation details to be disclosed in the upcoming HY26 results.

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

Dexus Industria REIT has announced a new dividend distribution of AUD 0.0415 per unit for its fully paid ordinary units stapled securities. The distribution relates to the financial period ending on December 31, 2025, with the ex-date set for December 30, 2025, and the payment date scheduled for February 19, 2026. This announcement reflects the company’s ongoing commitment to providing returns to its investors, potentially enhancing its attractiveness to stakeholders and reinforcing its position in the industrial real estate market.

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 Strengthens Industrial Focus and Sustainability Initiatives

Dexus Industria REIT held its 2025 Annual General Meeting, highlighting its strategic focus on industrial assets and the divestment of business park assets to enhance portfolio quality. The fund has achieved 100% industrial asset weighting, supporting strong occupancy and income growth, with developments attracting major tenants like Amazon and Australia Post. The REIT emphasizes sustainability initiatives to improve property appeal and maintain high occupancy rates, while leveraging Dexus’s expertise to maximize asset value and ensure resilience in economic cycles.

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 Finalizes Brisbane Technology Park Sale

Dexus Industria REIT has completed the divestment of its properties at Brisbane Technology Park in Eight Mile Plains, Queensland. This strategic move, announced earlier in August and September 2025, reflects the company’s ongoing efforts to optimize its investment portfolio and potentially enhance returns 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 Updates Principal Business Location

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

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

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.