Garda Property confirmed FY23 DPS guidance of 7.2cpu while announcing 1H funds from operations (FFO) of 7.6cpu and an interim distribution of 3.6cpu.

The broker expects updated revaluations in April/May, which will include current industrial developments, and news on potential asset sales in the 2H.

The Add rating is unchanged, while the target eases to $1.90 from $1.98.

Sector: Real Estate.

Target price is $1.90.Current Price is $1.38. Difference: $0.52 - (brackets indicate current price is over target). If GDF meets the Morgans target it will return approximately 27% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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