Dexus DXS

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A$7.18 −0.06 (0.83%)

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As of Apr 24, 2024 6:10am Delayed Price Closed

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Company Report

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Despite Headwinds at Present, Dexus Is Well-Placed for an Eventual Office Market Recovery

Alexander Prineas Feb 14, 2024

Dexus is a diversified Australian REIT that generates income from charging rent; managing property for clients; funds management, which typically includes property management and investment management services; and development and trading.

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Price vs Fair Value

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DXS is trading at a 34% discount.

Price

A$7.18

Apr 24, 2024

Fair Value

A$12.90

Apr 27, 2022

Uncertainty

Medium

1-Star Price: A$71.89
5-Star Price: A$9.86
Economic Moat: Wswmg
Capital Allocation: Hclqkrr

Bulls Say, Bears Say

Bulls

Dexus owns a high-grade office property portfolio and a solid industrial portfolio, and it will likely benefit from an ongoing demand for quality property from the likes of pension funds, sovereign wealth funds and other offshore investors.

Bears

Capitalization rates still likely have further to rise before stabilizing, given current bond yields.

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Trading Information

Previous Close Price: A$7.24
Day Range: A$7.15–7.34
52-Week Range: A$6.30–8.36
Bid/Ask: A$7.14 / A$7.34
Market Cap: A$7.72 Bil
Volume/Avg: 2.0 Mil / 3.1 Mil

Key Statistics

Price/Earnings (Normalized): —
Price/Sales: 9.09
Dividend Yield (Trailing): 7.01%
Dividend Yield (Forward): 7.01%
Total Yield: 7.01%

Company Profile

Dexus is a major Australian property owner, developer, and manager. It owns a large, high-grade office portfolio and a smaller industrial portfolio in Australia. It also manages properties on behalf of third-party investors. Dexus was formed by the merger of Deutsche Office, Industrial and Diversified Trusts. Management is internal, in contrast to some externally managed peers.

Sector: Real Estate
Industry: REIT - Office
Stock Style Box: Mid Value
Total Number of Employees: 647
Website: https://www.dexus.com

Competitors

Valuation

Metric	DXS	CMW	GPT
Price/Earnings (Normalized)	—	11.14	115.03
Price/Book Value	0.68	0.57	0.75
Price/Sales	9.09	3.49	8.96
Price/Cash Flow	13.21	7.26	13.76

Price/Earnings

DXS

CMW

GPT

Financial Strength

Metric	DXS	CMW	GPT
Quick Ratio	0.26	0.31	0.20
Current Ratio	0.47	1.28	0.74
Interest Coverage	−7.57	−5.35	−0.19

Quick Ratio

DXS

CMW

GPT

Profitability

Metric	DXS	CMW	GPT
Return on Assets (Normalized)	−5.52%	−12.00%	0.20%
Return on Equity (Normalized)	−8.08%	−23.12%	0.31%
Return on Invested Capital (Normalized)	−5.93%	−11.42%	1.05%

Return on Assets

DXS

CMW

GPT

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