HomeCo is pleased to release HomeCo Daily Needs REIT (ASX.HDN) first half year financial results since listing on the ASX just over 12 weeks ago.
Some key highlights include:
▪ Our 2 new supermarket anchored major developments are on track for completion on time and on budget
▪ 5 new brownfield developments announced, scheduled for FY22
▪ 2 acquisitions worth $104m have been completed with an immediate valuation uplift on Bunnings Seven Hills of 7%
▪ 99% unadjusted cash collections has continued since IPO from Nov-20 to Jan-21
▪ FY21 FFO guidance upgraded 9%
Portfolio Fund Manager, Mr Paul Doherty, said “It is pleasing for our maiden half-year reporting period to deliver such a strong set of results which deliver on our PDS forecasts. We have maintained a high quality and defensive exposure across our target sub-sectors, and we have achieved 99% unadjusted cash collection since IPO. The portfolio is well positioned with more than 76% national tenants and 94% of assets in metro locations. Importantly, we are on track to deliver on our strategy of providing unitholders with exposure to a portfolio of stabilised, predominantly metro-located and convenience-based assets targeting consistent and growing distributions to unitholders.”