GARDA PROPERTY GROUP (GDF)
Share Price Analysis and Chart

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GDF - GARDA PROPERTY GROUP

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: N/A
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.22

13 Dec
2024

0.005

OPEN

$1.22

0.41%

HIGH

$1.23

6,129

LOW

$1.22

TARGET
$1.59 30.3% upside
Franking for last dividend paid out: 13%
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FNARENA'S MARKET CONSENSUS FORECASTS
GDF: 1
Title FY22
Actual
FY23
Actual
FY24
Forecast
FY25
Forecast
EPS (cps) xxx - 2.4 6.3 xxx
DPS (cps) xxx 7.2 6.3 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx 0.0% - 12.5% xxx
PE Ratio xxx N/A 19.4 xxx
Dividend Yield xxx N/A 5.2% xxx
Div Pay Ratio(%) xxx N/A 100.0% xxx

Dividend yield today if purchased 3 years ago: 4.39%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

5.90

Estimated Dividend Growth
(Average Of Past Three Years)

 %

Amount Invested

Tell Me The Dividend After This Many Years

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 27/03 - ex-div 1.58c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-20.8
DPS All xxxxxxxxxxxxxxx6.3
Sales/Revenue xxxxxxxxxxxxxxx30.9 M
Book Value Per Share xxxxxxxxxxxxxxx157.4
Net Operating Cash Flow xxxxxxxxxxxxxxx6.6 M
Net Profit Margin xxxxxxxxxxxxxxx-139.05 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-11.43 %
Return on Invested Capital xxxxxxxxxxxxxxx-7.20 %
Return on Assets xxxxxxxxxxxxxxx-7.10 %
Return on Equity xxxxxxxxxxxxxxx-11.43 %
Return on Total Capital xxxxxxxxxxxxxxx2.91 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx217 M
Total Debt xxxxxxxxxxxxxxx217 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx17 M
Price To Book Value xxxxxxxxxxxxxxx0.71

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx0.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.00 %
Cost of Goods Sold xxxxxxxxxxxxxxx7 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx7 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx508 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

06/08/2024

1

Add

$1.59

30.33%

Garda Property's FY24 result appears to have fallen a touch shy of Morgans' expectation.

The company closed the year with gearing of 36.5% and hedging of 69% and its ICR covenant stood at 1.5x.

The portfolio was valued at roughly $500m with an 80% weighting to industrial following the $100m sale of a Melbourne office with a weighted average lease expiry of 4.8 years.

Add rating retained. Target price falls to $1.59 from $1.65.

FORECAST
Morgans forecasts a full year FY24 dividend of 6.30 cents and EPS of 6.30 cents.
Morgans forecasts a full year FY25 dividend of 7.20 cents and EPS of 6.40 cents.

EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Moelis

23/10/2024

1

Buy

$1.66

36.07%

Garda Property has announced the sale of its industrial development site at North Lakes for $114.0m. The deal has several conditions attached, but these are anticipated to be satisfied by Q4 of FY25.

Moelis comments this deal allows Garda Property to reduce gearing to 22% (assuming all goes well). It is noted the deal has been concluded at a -2.4% discount to the independent on-completion value of $116.8m.

The broker notes it is the intention to make a one-off special distribution to assist security holders with the tax associated with the capital gain from the sale of North Lakes.

The broker also makes the point asset sales are materially accretive to earnings given proceeds will be used to retire most, if not all of the REIT's variable debt facilities.

Buy. Target lifts to $1.66. EPS and DPS forecasts made a small jump.

FORECAST
Moelis forecasts a full year FY24 dividend of 7.20 cents and EPS of 6.80 cents.
Moelis forecasts a full year FY25 dividend of 7.50 cents and EPS of 9.70 cents.

GDF STOCK CHART