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Highlights
- Healthco is a real estate investment trust with specialization in wellness and healthcare property assets
- In FY24, HCW’s FFO surged by 77.6% YoY to AUD 45.3 million
- Pilla (David) has the maximum stake in the firm with a shareholding of 22.4%
Healthco Healthcare and Wellness REIT (ASX:HCW) is a real estate investment trust with specialization in wellness and healthcare property assets. The company aims to offer its investors access to a diverse portfolio of assets.
In the financial year 2024 (FY24), the portfolio of HCW maintained a 99% occupancy rate, recorded 100% cash rent collection and achieved weighted average lease expiry (WALE) of 12.2 years.
During the reported period, revenue from ordinary activities increased by 50% YoY to AUD 73.8 million and funds from operations (FFO) went up by 77.6% YoY to AUD 45.3 million. However, profit, including non-controlling interest dropped by 66% YoY in FY24 to AUD 7.3 million.
The period saw successful completion of the first closing of around AUD 1.3 billion unlisted healthcare fund (UHF), resulting in AUD 650 million in equity commitments from HCW and prominent global institutional investors.
Top 10 shareholders of HCW
The top 10 shareholders of HCW have around 41.52% stake in the firm, while the top four have 36.32% of the shareholding. Pilla (David) has the maximum stake in the firm with a shareholding of 22.4%, followed by The Vanguard Group, Inc. with a shareholding of 7.52%.

Outlook
In FY25, the FFO is anticipated to reach 8.4 cents per unit, up 5% from previous corresponding period. The Distribution per Unit (DPU) is forecasted to touch 8.4 cents, a 5% growth over FY24.
After the successful first closing of the UHF in latest fiscal year, the company is on track to accept a fourth institutional investor in December 2024, taking the total equity commitments to AUD 650 million.
Share performance of HCW
HCW shares closed 1.61% lower at AUD 1.22 apiece on 3 September. In the past one year, HCW’s share price has dropped by almost 19.47%, while in the last three months, it has increased by nearly 6.9%.
52-week high of HCW is AUD 1.58, recorded on 20 September 2023, and 52-week low is AUD 1.045, recorded on 2 July 2024.

HCW Daily Technical Chart, Source: EODHD/Others
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 03 September 2024. The reference data in this report has been partly sourced from EODHD/Others.






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