GARDA PROPERTY GROUP (GDF)
Share Price Analysis and Chart

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GDF - GARDA PROPERTY GROUP

FNArena Sector : REITs

Year End: June

GICS Industry Group : Real Estate

Debt/EBITDA: N/A

Index: ALL-ORDS

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$1.15 30 Nov 2023	0.040 OPEN $1.12	3.60% HIGH $1.15	51,759 LOW $1.12

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$1.15

30 Nov
2023

0.040

OPEN

$1.12

3.60%

HIGH

$1.15

51,759

LOW

$1.12

TARGET

$1.73

50.4% upside

OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . ASK . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DXC . DXI . DXS . ECF . GDI . HCW . HDN . NPR . NSR . PLG . REP . RFF . RGN . SCG . TGP . URW . VCX . WOT . WPR .

FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY22 Actual	FY23 Actual	FY24 Forecast	FY25 Forecast
EPS (cps)	xxx	- 2.4	6.3	xxx
DPS (cps)	xxx	7.2	6.3	xxx
EPS Growth	xxx	N/A	N/A	xxx
DPS Growth	xxx	0.0%	- 12.5%	xxx
PE Ratio	xxx	N/A	18.1	xxx
Dividend Yield	xxx	N/A	5.5%	xxx
Div Pay Ratio(%)	xxx	N/A	100.0%	xxx

Dividend yield today if purchased 3 years ago: 5.76%

DIVIDEND YIELD CALCULATOR

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: 29/06 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2023 FactSet UK Limited. All rights reserved

Title	2018	2019	2020	2021	2022	2023
EPS Basic	xxx	xxx	xxx	xxx	xxx	-2.4
DPS All	xxx	xxx	xxx	xxx	xxx	7.2
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	31.6 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	196.0
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	11.8 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	-15.62 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title	2018	2019	2020	2021	2022	2023
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	-1.18 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	-0.75 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	-0.74 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	-1.18 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	2.93 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	-

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title	2018	2019	2020	2021	2022	2023
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	-
Long Term Debt	xxx	xxx	xxx	xxx	xxx	224 M
Total Debt	xxx	xxx	xxx	xxx	xxx	224 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	-
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	13 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	0.66

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title	2018	2019	2020	2021	2022	2023
Capex	xxx	xxx	xxx	xxx	xxx	-
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	-
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	7 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	5 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	504 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

1.0

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Morgans	09/08/2023	1	Add	$1.73	50.43%	FY23 results for Garda Property were in line with management guidance while FY24 DPS guidance was a miss versus Morgans forecast. The DPS miss was largely due to higher interest costs and a timing mismatch between asset sales and income from active developments. The re-weighting away from Office continues and two further assets are flagged for sale in FY24 and proceeds will be deployed for future development projects (current developments are fully funded). The Add rating is maintained and the target falls to $1.73 from $1.81. FORECAST Morgans forecasts a full year FY24 dividend of 6.30 cents and EPS of 6.30 cents. Morgans forecasts a full year FY25 dividend of 7.40 cents and EPS of 7.80 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Morgans

09/08/2023

Add

$1.73

50.43%

FY23 results for Garda Property were in line with management guidance while FY24 DPS guidance was a miss versus Morgans forecast. The DPS miss was largely due to higher interest costs and a timing mismatch between asset sales and income from active developments.

The re-weighting away from Office continues and two further assets are flagged for sale in FY24 and proceeds will be deployed for future development projects (current developments are fully funded).

The Add rating is maintained and the target falls to $1.73 from $1.81.

FORECAST
Morgans forecasts a full year FY24 dividend of 6.30 cents and EPS of 6.30 cents.
Morgans forecasts a full year FY25 dividend of 7.40 cents and EPS of 7.80 cents.

Access Stockbroker Research History >

GDF STOCK CHART

FNArena News on GDF

1	FNArena Corporate Results Monitor – 09-08-2023 Aug 09 2023 - Australia

2	Australian Broker Call Extra Edition – Jul 31, 2023 Jul 31 2023 - Daily Market Reports

3	Rudi’s View: ARB, Corporate Travel, Goodman Group, NextDC, Orora, Worley & Xero Jul 26 2023 - Rudi's View

4	Next Week At A Glance – 24-28 Jul 2023 Jul 21 2023 - Weekly Reports

5	Australian Broker Call Extra Edition – Jun 29, 2023 Jun 29 2023 - Daily Market Reports

Latest REITs News

1	Australian Listed Real Estate Tables – 27-11-2023 Nov 27 2023 - Weekly Reports

2	Australian Listed Real Estate Tables – 20-11-2023 Nov 20 2023 - Weekly Reports

3	Australian Listed Real Estate Tables – 13-11-2023 Nov 13 2023 - Weekly Reports

4	SMSFundamentals: A Comprehensive Guide To Australian REIT Investing Nov 08 2023 - SMSFundamentals

5	Australian Listed Real Estate Tables – 08-11-2023 Nov 08 2023 - Weekly Reports

6	Australian Listed Real Estate Tables – 30-10-2023 Oct 30 2023 - Weekly Reports

7	Australian Listed Real Estate Tables – 23-10-2023 Oct 23 2023 - Weekly Reports

8	Australian Listed Real Estate Tables – 16-10-2023 Oct 16 2023 - Weekly Reports

9	Australian Listed Real Estate Tables – 10-10-2023 Oct 10 2023 - Weekly Reports

10	Australian Listed Real Estate Tables – 03-10-2023 Oct 03 2023 - Weekly Reports

Dividend Yield Today On Last Actual Payout :	6.32
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
Tell Me The Dividend After This Many Years

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GARDA PROPERTY GROUP (GDF)
Share Price Analysis and Chart