HOMECO DAILY NEEDS REIT (HDN)
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HDN

HDN - HOMECO DAILY NEEDS REIT

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 8.24
Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.37

16 Jan
2026

0.010

OPEN

$1.35

0.74%

HIGH

$1.38

2,682,533

LOW

$1.35

TARGET
$1.415 3.3% upside
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . ASK . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DGT . DXC . DXI . DXS . ECF . GDF . GDI . HCW . NSR . PLG . REP . RFF . RGN . SCG . TGP . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
HDN: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 12.0 9.0 xxx
DPS (cps) xxx 8.5 8.7 xxx
EPS Growth xxx 100.0% - 25.1% xxx
DPS Growth xxx 2.4% 1.9% xxx
PE Ratio xxx N/A 15.2 xxx
Dividend Yield xxx N/A 6.3% xxx
Div Pay Ratio(%) xxx 70.7% 96.2% xxx

Dividend yield today if purchased 3 years ago: 6.51%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.20

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 30/12 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 2022202320242025
EPS Basic xxxxxxxxx12.0
DPS All xxxxxxxxx8.5
Sales/Revenue xxxxxxxxx365.7 M
Book Value Per Share xxxxxxxxx147.3
Net Operating Cash Flow xxxxxxxxx182.7 M
Net Profit Margin xxxxxxxxx68.44 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 2022202320242025
Return on Capital Employed xxxxxxxxx8.25 %
Return on Invested Capital xxxxxxxxx5.44 %
Return on Assets xxxxxxxxx5.14 %
Return on Equity xxxxxxxxx8.25 %
Return on Total Capital xxxxxxxxx4.48 %
Free Cash Flow ex dividends xxxxxxxxx13.8 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 2022202320242025
Short-Term Debt xxxxxxxxx0 M
Long Term Debt xxxxxxxxx1,755 M
Total Debt xxxxxxxxx1,755 M
Goodwill - Gross xxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxx18 M
Price To Book Value xxxxxxxxx0.85

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 2022202320242025
Capex xxxxxxxxx0.0 M
Capex % of Sales xxxxxxxxx0.00 %
Cost of Goods Sold xxxxxxxxx114 M
Selling, General & Admin. Exp & Other xxxxxxxxx39 M
Research & Development xxxxxxxxx-
Investments - Total xxxxxxxxx4,842 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.3

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

11/09/2025

3

Equal-weight

$1.34

-2.19%

Morgan Stanley's economics team forecasts the RBA to cut rates to 3.1% by February 2026, which is broadly in line with market expectations. Looking at AREITs, the analyst notes on average the interest rate hedging base for rates is at 3.1%-3.2% over the next two years.

For REITs which hedged at higher rates, there is scope for earnings upside if the swaps expiring are broken or altered.

HomeCo Daily Needs REIT is estimated to have potentially circa 1.5% of FFO to be unlocked when the current swaps roll off. Currently the REIT has $982m hedged at 3.4% out of a total debt book of $1.76bn.

Equal-weight. Target unchanged at $1.34. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 8.70 cents and EPS of 9.00 cents.
Morgan Stanley forecasts a full year FY27 EPS of 9.00 cents.

Morgans

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Moelis

15/09/2025

3

Downgrade to Hold from Buy

$1.44

5.11%

Last month, HomeCo Daily Needs REIT delivered FY25 funds from operations (FFO) of 8.8cpu and distribution of 8.5cpu, in line with guidance.

Moelis highlights like-for-like net operating income (NOI) growth of 4%, ahead of peers, with weighted average rent reviews (WARR) of 3.5% and leasing spreads of 6%.

The broker notes net tangible assets (NTA) rose around 1% to $1.47 in six months, as portfolio capitalisation rates compressed -6bps to 5.56%.

Gearing eased to 35.2% from 36% as the trust recycled capital, with -$310m in acquisitions and developments offset by $250m in divestments, explains the analyst. 

Management guided to FY26 FFO of 9cpu and distribution of 8.6cpu, implying a payout ratio of 95.6%. The broker highlights rebased hedging at around 50% allows earnings to benefit from falling interest rates, while capital recycling and developments remain accretive.

Moelis raises its target price to $1.44 from $1.36 but downgrades to Hold from Buy on valuation grounds.

FORECAST
Moelis forecasts a full year FY26 dividend of 8.60 cents and EPS of 9.00 cents.
Moelis forecasts a full year FY27 dividend of 8.90 cents and EPS of 9.40 cents.
Access Extra Coverage Research History >

HDN STOCK CHART

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