A recent trading update by HomeCo Daily Needs REIT revealed key portfolio metrics remain stable, according to Morgans, while the development pipeline remains on track.

Positively, re-leasing spreads (the change in the per-square-foot rate between the new and expiring leases) are more than 6.5% compared to the 6% average in FY23, highlights the broker.

The Add rating is unchanged and the target eases to $1.37 from $1.39.

Sector: Real Estate.

Target price is $1.37.Current Price is $1.13. Difference: $0.25 - (brackets indicate current price is over target). If HDN meets the Morgans target it will return approximately 18% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2023 Acquisdata Pty Ltd., source FN Arena