Dexus

DXS: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$52.80	Sllrzz	Vmygrsgn

Dexus Earnings: Office Still Challenging but We're Seeing More Evidence for Eventual Recovery

Alexander Prineas

Feb 14, 2024

Dexus’ first-half result revealed adjusted funds from operations of AUD 0.27 per security and distributions of AUD 0.27. That’s on track with our unchanged full-year estimates, and management guidance for full-year distributions of AUD 0.48 and AFFO “broadly in line with” fiscal 2023, excluding trading profits. We maintain our AUD 10.80 fair value estimate and Dexus securities screen as undervalued.

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