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HomeCo lifts guidance for Daily Needs REIT as foot traffic surges
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Fund manager Home Consortium upgraded full-year earnings guidance 9 per cent for its newly spun-out Daily Needs REIT as shoppers returned in droves to its hyper-convenience-style malls.
The trust, which owns almost a $1 billion of mostly metro-based assets anchored by supermarkets, large-format retailers and healthcare services, floated in November after raising $300 million.
Logging its maiden half-year results, the trustâs solid performance highlighted the strength and resilience of shopping malls with tenancy mixes aimed at catering for everyday household needs.
Home Consortium managing director and group CEO David Di Pilla: âThis strategy is really delivering for us.â Â