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GARDA Diversified Property Fund

1H20 results: steadying the ship

  • 1H20 results saw FFO per security declining 1.1%. Growth from acquisitions offset by issue of new securities.
  • Industrial acquisitions and developments continue to fuel growth.
  • Botanicca 9 remains vacant, we now expect this to be progressively leased up by July 2021.
  • Management guidance implies FY20 FFO of 8.2 cps (from 8.7 cps in FY19). FY20 distributions to be maintained at 9.0 cps or 110% payout ratio.

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Published - 13/03/2020

Core Property Rating - Hold

Target - 1.45

This publication is not and should not be construed as, personal financial product advice, an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Any opinion contained in the Report is unsolicited general information (general financial product advice) only. Read more here.