Australia's HomeCo Daily Needs REIT hits 1-month high on robust portfolio

HomeCo Daily Needs REIT

17/12/2021 04:07

** Shares of the real estate investment trust  HDN.AX  rise
as much as 2.7% to A$1.525, hitting their highest levels since
Oct.18 
    ** Says preliminary unaudited independent revaluation of
co's portfolio indicates a net valuation increase of A$225
million ($161.26 million) to A$2.5 billion as at Dec.31 vs
June.30  urn:newsml:reuters.com:*:nASX4mWPv4
    ** Says total portfolio valuation gains over the past four
and a half years to over ~A$785 million, an increase of ~40%
    ** Says board has approved a distribution for the Dec
quarter of 5.00 cents per security
    ** Adds that strong valuation gains drive 14% growth in
proforma net tangible assets per unit of co  urn:newsml:reuters.com:*:nASX4WyFxD
    ** Stock on track for their sharpest single day pct jump
since Dec.10 
    ** Stock has risen 19.7% so far this year, as of last close
vs 11.5% increase in the ASX All Ordinaries Index  .AORD  


($1 = 1.3953 Australian dollars)

 (Reporting by Roushni Nair in Bangalore)
 ((Roushni.Nair@thomsonreuters.com))