HomeCo Daily Needs REIT has completed an institutional placement of $70m to help fund the $160m acquisition of a large neighbourhood asset in Queensland. Morgans notes potential development upside for the property, currently anchored by leading national retailers.

The broker makes only minor changes to forecasts. The Add rating is unchanged and the target prices edges up to $1.56 from $1.55.

Sector: Real Estate.

Target price is $1.56.Current Price is $1.45. Difference: $0.11 - (brackets indicate current price is over target). If HDN meets the Morgans target it will return approximately 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2021 Acquisdata Pty Ltd., source FN Arena