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Australian REIT owning large-format and daily-needs retail centres (supermarkets, homewares, health) spun out of Home Consortium.
Australian REIT owning large-format and daily-needs retail centres (supermarkets, homewares, health) spun out of Home Consortium.
Collects rent from tenants on multi-year leases that usually step up each year, and grows by buying centres and developing new ones. The REIT is run by an external manager, HMC Capital (formerly Home Consortium), which earns management fees.
In one line: A large-format retail REIT like an Australian Kimco/large-format mall trust.
Moat: narrow (installed base). Non-discretionary, daily-needs tenant mix supports stable occupancy but limited pricing power.
Headquarters: Sydney, Australia · Founded: 2020 · Employees: 0
Size HomeCo Daily Needs REIT (HDN.AX) is an Australia Real Estate company (Real Estate Investment Trusts) with a market value of $1.71B, the 136th largest of 316 Australia companies the cockpit tracks. Shares closed at A$1.18 on 6 Nov 2026.
Performance Over six months the shares fell 2.5%, against -11.9% for the median peer and +4.1% for the Australia market (cap-weighted) — 6th highest of 20 in its peer set.
Growth Revenue grew 3.8% over the last twelve months (peer median +5.1%); the operating margin is 74.9% (peer median 47.0%).
Valuation It trades at 0.76× book value against a peer median of 0.86× (7th cheapest of 21).
Price implies The share price implies a return on equity of about 8.5%; HomeCo Daily Needs REIT delivers 11.4%, so the price asks less than the business earns today.
Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$379M | A$379M | A$366M | A$356M | A$348M |
| Revenue growth | — | +4% | +3% | +2% | — |
| Gross profit | A$262M | A$262M | A$252M | A$242M | A$240M |
| EBITDA | A$284M | A$284M | A$213M | A$210M | A$239M |
| Net income | A$362M | A$362M | A$250M | A$82.0M | A$102M |
| Free cash flow | A$145M | A$145M | A$183M | A$171M | A$170M |
| Capital expenditure | A$0 | A$0 | A$0 | A$0 | A$0 |
| Total debt | n/a | A$1.89B | A$1.75B | A$1.68B | A$1.64B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| HomeCo Daily Needs REIT HDN.AX | $1.71B | -2% | +4% | 11% | 0.76× | 8.5% |
| BWP Trust BWP.AX | $2.01B | -2% | +2% | 13% | 0.86× | 7.4% |
| Region RGN.AX | $1.89B | +6% | +30% | 9% | 0.92× | 9.4% |
| Charter Hall Retail REIT CQR.AX | $1.59B | +6% | +31% | 14% | 0.78× | 8.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HDN.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.3% | +1.7% | 5th highest of 21 |
| 6-month return | -2.5% | -11.9% | 6th highest of 20 |
| Return on equity | 11.4% | 6.3% | 2nd highest of 20 |
| Price / book | 0.76× | 0.86× | 7th cheapest of 21 |
| Trailing P/E | 6.8× | 12.6× | 2nd cheapest of 13 |
| ROE the price implies | 8.5% | 8.6% | 11th least demanding of 21 |
| ROE delivered | 11.4% | 6.3% | 2nd highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| HomeCo Daily Needs REIT HDN.AX | Australia | $1.71B | -2% | +4% | 11% | 0.76× | 8.5% | 11.4% |
| Douglas Emmett DEI | United States | $1.70B | -18% | +2% | -1% | 0.89× | 10.1% | -1.2% |
| Eurocommercial Properties ECMPA.AS | Netherlands | $1.72B | -7% | +1% | 9% | 0.64× | 5.0% | 8.5% |
| Diversified Healthcare Trust DHC | United States | $1.70B | -17% | -4% | -9% | 1.11× | 18.0% | -9.5% |
| Daiwa Office Investment 8976.T | Japan | $1.74B | -12% | +24% | 6% | 1.13× | 4.7% | 6.3% |
| Mitsui Fudosan Accommodations Fund 3226.T | Japan | $1.75B | -16% | +18% | 9% | 1.79× | 6.3% | 8.6% |
| Safestore SAFE.L | United Kingdom | $1.67B | -13% | +7% | 3% | 0.55× | 8.4% | 2.9% |
| Sekisui House Reit 3309.T | Japan | $1.78B | -23% | +5% | 7% | 0.97× | 5.3% | 7.4% |
| Charter Hall Long WALE REIT CLW.AX | Australia | $1.78B | +4% | +40% | 8% | 0.76× | 9.2% | 8.3% |
| Champion Real Estate Investment Trust 2778.HK | Hong Kong | $1.80B | -8% | -8% | -3% | 0.35× | 4.6% | -2.6% |
| H&R Real Estate Investment Trust HR-UN.TO | Canada | $1.80B | -10% | -6% | -13% | 0.60× | 6.3% | -12.8% |
| Blackstone Digital Infrastructure Trust BXDC | United States | $1.61B | n/a | n/a | n/a | 0.83× | 7.3% | n/a |
| Charter Hall Retail REIT CQR.AX | Australia | $1.59B | +6% | +31% | 14% | 0.78× | 8.7% | 13.9% |
| Global Net Lease GNL | United States | $1.58B | -26% | -30% | -1% | 0.96× | 9.9% | -1.0% |
| Blackstone Mortgage Trust BXMT | United States | $1.85B | -42% | -2% | -12% | 0.65× | 7.3% | -11.7% |
| ARMOUR Residential REIT ARR | United States | $1.87B | -29% | -140% | -2% | 0.80× | 10.2% | -2.3% |
| Region RGN.AX | Australia | $1.89B | +6% | +30% | 9% | 0.92× | 9.4% | 9.2% |
| Great Portland Estates GPE.L | United Kingdom | $1.90B | +17% | +24% | 7% | 0.66× | 9.9% | 7.5% |
| Activia Properties 3279.T | Japan | $1.90B | -10% | +24% | 6% | 1.12× | 5.6% | 5.9% |
| Supermarket Income REIT SUPR.L | United Kingdom | $1.54B | +4% | -7% | 8% | 0.94× | 9.1% | 7.8% |
| Getty Realty GTY | United States | $1.92B | -14% | +11% | 9% | 1.50× | 11.2% | 8.9% |