Garda Property Group FY24 Financial Results

Garda Property Group (ASX: GDF), an investor, developer, and manager focusing on industrial property in Southeast Queensland, has released its FY24 financial results. The company boasts a strong portfolio with a 6.06% cap rate and a "develop-to-own" strategy, with a development pipeline comprising 25% of total assets. Garda has implemented proactive capital management through share buybacks, debt reduction, and hedging profile restructure.

Increased lending activities are driving revenue growth. The company trades at a discount to industrial REIT peers, indicating latent value. Key financial metrics include a 97.5% FFO payout ratio, a 36.5% gearing ratio, and 69% of debt hedged. Garda offers exposure to the robust industrial property market in Southeast Queensland, with a proven development track record and a significant pipeline for future growth.

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