HomeCo Daily Needs (ASX: HDN) counts on balance sheet strength to support its growth initiatives.

Tue 18 Jul 23, 12:40 PM | Team Kalkine

Highlights

HomeCo Daily Needs REIT (ASX: HDN) is a real estate investment trust that owns and manages a portfolio of commercial real estate assets. In the first half of the financial year 2023 (1HFY23), the company registered a 192% growth in funds from operation (FFO) over the previous corresponding period (pcp) and a 2% growth in distribution per unit (DPU). The company said that these results display defensive and compelling qualities, driven by the focus on a low-geared balance sheet, highly strategic real estate and a focused tenant base.

During the same period, the revenue grew by around 193% year-on-year. The results reflect the synergies of investment in HMC Capital’s unlisted Last Mile Logistics fund and Southlands Boulevarde’s acquisition, said the company.

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