HomeCo Daily Needs REIT has announced its financial results for the first half of the fiscal year, reporting funds from operations (FFO) of 4.4¢ per unit. This represents a slight increase compared to the 4.3¢ per unit reported in the prior corresponding period. Distributions were maintained at 4.3¢ per unit. HomeCo Daily Needs REIT owns and manages a portfolio of convenience-based assets across Australia, focusing on daily needs retail and services. The REIT aims to provide stable and growing income to its investors through its diversified property holdings.
The REIT has reaffirmed its FY26 guidance, projecting FFO of 9¢ per unit and distributions of 8.6¢ per unit. The company also reported a significant revaluation of its portfolio, noting a gross uplift of $219 million. Additionally, HomeCo completed $87 million in asset sales at a premium to book value. The company intends to use these proceeds to fund future growth initiatives and strategic opportunities.
HomeCo’s balance sheet remains strong, with the company ending December with pro forma gearing of 34.6 per cent. Net tangible assets (NTA) stood at $1.55 per unit, reflecting a 5.4 per cent increase since June. These figures indicate the company’s solid financial position and its ability to generate value for its unitholders. The REIT continues to focus on delivering sustainable long-term growth and attractive returns.
