Company Overview: HomeCo Daily Needs REIT (ASX: HDN) is an Australian Real Estate Investment Trust, which invests in convenience-based assets throughout the target sub-sectors of Neighbourhood Retail, Large Format Retail, and Health & Services. Kalkine’s Daily Report covers the Key Financial Metrics, Risks, Outlook, Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock.
Section 1.0: Key Metrics in Pictures
Having looked at the key financial ratios above, the below sections provide an in-depth fundamental, and technical analysis on this one ASX-listed REIT stock along with recommendations, technical support and resistance levels and indicative stop-loss.
Section 2.0: HomeCo Daily Needs REIT (ASX: HDN) (‘Buy’ at AUD 1.225 at Closing Market Price as on 15 April 2024)
2.1 Company Details
2.2 Valuation and Technical Guidance
The stock has declined by ~3.6% in the last 3 months, whereas over the last 6 months, the stock has increased by ~8.2%. The stock has a 52-week low and 52-week high of AUD 1.027 and AUD 1.315, respectively, and is currently trading above the average of 52-week high and low. HDN was last covered in a report dated ’30 January 2024’.
Markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is April 15, 2024. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Technical Indicators Defined: -
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.