Dexus Industria REIT reports full year earnings of $74.4M
Full story: https://grafa.com/en/news/australia/dexus-industria-reit-reports-full-year-earnings-of-74-4m
-
Dexus Industria REIT delivered a full-year net profit of $74.4 million alongside funds from operations of $55.7 million.
-
The stock closed lower at $2.46 following the announcement of the financial results.
-
The company stated that active management and portfolio repositioning will drive future value and development momentum.
Dexus Industria REIT (ASX:DXI) reported a net profit after tax of $74.4 million for the financial year ended June 30.
The statutory profit declined compared to A$84.2 million in the prior period, primarily reflecting lower property valuation gains across the portfolio.
"DXI has outperformed its upgraded guidance for the year, primarily driven by strong leasing outcomes. Our active management approach continues to drive performance through proactive forward leasing and positive re-leasing spreads of 21.4%," said Dexus Industria REIT Fund Manager Jason Weate.
Funds from operations reached $55.7 million, or 17.6 cents per security, while the buy-back target was doubled to 5% with 60% of the initial 2.5% target completed.
Despite higher near-term finance expenses, the fund expects to maintain FY27 distributions in line with the prior year at 16.6 cents per security, reflecting a distribution yield of 6.8%.
Following the announcement, the Dexus Industria REIT share price was down at $2.46.
The real estate investment trust maintains a portfolio focused on industrial and urban infill assets across key Australian markets.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
