HomeCo Daily Needs REIT Units

HDN: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$4.48	Cwjk	Qfmqmfnjn

HomeCo Daily Needs REIT Earnings: Stronger Rental Growth Than Retail Peers Bodes Well

Alexander Prineas

Feb 16, 2024

HomeCo Daily Needs REIT’s 2024 half-year result aligned with our expectations. It posted funds from operations of AUD 4.3 cents per security, halfway to our full-year FFO estimate of AUD 8.6 cents, which aligns with unchanged management guidance. We maintain our fair value estimate of AUD 1.45 per security, and no-moat HomeCo Daily Needs screens as undervalued.

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