GARDA PROPERTY GROUP (GDF)
Share Price Analysis and Chart

13/02/2026

2

Accumulate

$1.35

13.92%

First half earnings and distributions from Garda Property were largely in line with estimates. FY26 FFO guidance has been upgraded to 10c per security with a distribution of 8.5c.

Morgans observes the business continues to redeploy capital into higher yielding lending activities with the loan book expanding materially and becoming a key driver of growth.

An Accumulate rating is retained with the target lowered to $1.35 from $1.40. Weak sentiment towards interest-rate sensitive stocks is offsetting positive business fundamentals, the broker points out.

FORECAST
Morgans forecasts a full year FY26 dividend of 8.50 cents and EPS of 10.00 cents.
Morgans forecasts a full year FY27 dividend of 9.00 cents and EPS of 11.00 cents.

11/02/2026

1

Buy

$1.62

36.71%

Garda Property has upgraded guidance, expecting lending to make up 46% of revenue in FY26. This has led to a 10% upgrade to FY26 EPS guidance. More growth is expected as vacant industrial space is leased.

Moelis increases its earnings profile in line with guidance, underpinned by a larger lending book and offset by a slower letting period at Acacia Ridge. Buy rating and $1.62 target retained.

FORECAST
Moelis forecasts a full year FY26 dividend of 8.50 cents and EPS of 10.00 cents.
Moelis forecasts a full year FY27 dividend of 9.30 cents and EPS of 10.90 cents.