Dexus Convenience Retail REIT (ASX:DXC): What Are Analysts Making of FY26?

Sonal Goyal

09 October 2026 12:59 PM AEDT

Dexus Convenience Retail REIT (ASX:DXC): What Are Analysts Making of FY26?

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Highlights

Consensus rating of Buy from 4 analysts: 3 Buy or equivalent, 1 Hold, 0 Sell or equivalent.
Mean price target of A$3.19 against a share price of A$2.65 on 8 October 2026, an implied upside of 20.3%.
Analyst targets range from A$2.70 to A$3.60.
Funds from operations (FFO) and the distribution were both 20.9 cents per security, in line with FY26 guidance.

Dexus Convenience Retail REIT (ASX:DXC) carries a consensus analyst rating of Buy. Of the 4 analyst recommendations recorded, 3 are Buy or equivalent, 1 is Hold and 0 are Sell or equivalent. The mean price target is A$3.19, with targets ranging from A$2.70 to A$3.60, against a current share price of A$2.65 (8 October 2026). Dexus Convenience Retail REIT is an Australian REIT that owns convenience retail properties, including petrol and highway convenience assets.

Company name	Dexus Convenience Retail REIT
Ticker	(ASX:DXC)
Exchange	ASX (Australian Securities Exchange)
Current share price	A$2.65
Price date	8 October 2026
Number of analysts	4
Rating consensus	Buy
Consensus price target (mean)	A$3.19
Highest target	A$3.60
Lowest target	A$2.70
Implied upside/downside to mean target	Implied upside of 20.3%

Latest developments

Dexus Convenience Retail REIT (ASX:DXC) announced its results for the 12 months ended 30 June 2026 on 10 August 2026. Funds From Operations (FFO) and the distribution were both 20.9 cents per security, in line with FY26 guidance. Like-for-like income growth was 3.0%, supported by average rent reviews of 3.3%, occupancy was 99.2% and the weighted average Lease expiry was 7.6 years.

The Glass House Mountains Northbound development is complete and trading, with an 18-year WALE and 43% of income from quick-service restaurants. The securities buy-back is 60% complete against the initial 2.5% target, and the target was doubled to 5%. The REIT divested $8 million of Assets at a 1.4% premium to book value. Gearing was 30.6%, toward the lower end of the 25% to 40% target range, with no Debt expiries until FY28. A portfolio valuation uplift of $27.4 million supported a 6.0% rise in NTA per security to $3.86.

Sector context

Convenience retail property income depends on rent reviews, tenant performance and Capitalisation rates. The REIT reports income supported by major national and international tenants, including quick-service restaurants at highway assets.

Risks and what to watch

FFO and distributions were in line with guidance and unchanged at 20.9 cents, and the NTA gain of 6.0% reflects valuation uplifts. The buy-back uses capital and depends on market conditions. Property Earnings depend on lease renewals, interest rates and valuations.

Next milestones

Items to watch include progress on the buy-back toward 5%, FY27 guidance for FFO and distributions, asset recycling, gearing relative to the 25% to 40% range, and the half-year result.

FAQs

Q: What is the consensus analyst rating for Dexus Convenience Retail REIT (ASX:DXC)?

A:The consensus rating is Buy, based on 4 analyst recommendations: 3 Buy or equivalent, 1 Hold and 0 Sell or equivalent.

Q: What are the analyst price targets for Dexus Convenience Retail REIT (ASX:DXC)?

A:The mean price target is A$3.19, with a highest target of A$3.60 and a lowest target of A$2.70. The share price on 8 October 2026 was A$2.65.

Q: What did Dexus Convenience Retail REIT (ASX:DXC) report for FY26?

A:DXC reported FFO and distributions of 20.9 cents per security, occupancy of 99.2%, NTA of $3.86 per security and gearing of 30.6%.

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