Dexus Industria REIT (DXI) has reported strong fiscal year 2024 results, exceeding its upgraded guidance. The REIT announced funds from operations (FFO) per security of 18.2 cents, a 4.6 per cent increase compared to the previous year. Distributions per security totalled 16.4 cents. Dexus Industria REIT is focused on owning, managing, and developing high-quality industrial properties. The company aims to deliver sustainable income and long-term capital growth for its investors.
The REIT also posted a statutory net profit after tax of $84.2 million. This reverses the $11.8 million loss from the prior year, primarily driven by property valuation gains. These results reflect the REIT’s strategic shift towards a focused industrial portfolio.
Industria progressed its strategic shift by agreeing to divest Brisbane Technology Park for $155.5 million. Simultaneously, the REIT expanded its presence in the Sydney market by acquiring an urban logistics warehouse at Glendenning, New South Wales, increasing its exposure to Sydney’s industrial infill market. These transactions align with Dexus Industria’s strategy to enhance its industrial holdings.
Looking ahead, Dexus Industria REIT has provided guidance for fiscal year 2025, forecasting FFO per security of 17.3 cents. The REIT anticipates distributions per security of 16.6 cents, representing a 5.8 per cent distribution yield, demonstrating continued commitment to shareholder returns.
