LDR Capital Property Fund FY26 Results and Portfolio Repositioning
Key points
- FY26 FFO of $28.2 million, down 20.3% from FY25
- Completed asset sales generating $105.4 million in net proceeds
- Portfolio occupancy at 93.2% with weighted average lease expiry of 3.4 years
- Distributions of 6.5 cents per security, in line with FY26 guidance
- Gearing expected to reduce to 29.3% post asset sales
Full summary
LDR Capital Property Fund (ASX: LED) announced its FY26 results, marking the first full reporting period under LDR Capital as Investment Manager. The Fund generated FFO of $28.2 million, down 20.3% from the previous year, with AFFO at $7.3 million. The Fund completed asset sales generating $105.4 million, reducing gearing from 42.6% to 29.3%. Distributions remained at 6.5 cents per security, and LDR Capital plans to waive fees in 1H27 to support the Fund's repositioning. The Fund aims to complete its asset recycling program in FY27 and redeploy capital into essential properties.
Guidance
FY27 AFFO guidance of 1.5 cents per security, distribution guidance of 1.5 cents per security
Outlook
LDR Capital plans to complete asset recycling, refinance debt, and redeploy capital into essential properties in FY27 to support sustainable growth and distributions.
Summary generated by a large language model. Please interpret with care.