Morningstar initiates HMC Capital coverage with AUD 2.80 fair value for HMC Capital stock

Published on 10/25/2026 at 02:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fiscal 2026 recurring revenue rose 22.00 percent to AUD 165.5 million. Fiscal 2027 dividend guidance for HMC Capital stock is AUD 0.15 per share.

Coverage and dates shape the story

Morningstar began coverage on October 20, 2026, with an AUD 2.80 fair value estimate.
Recurring funds-management revenue rose 22.00 percent to AUD 165.5 million in fiscal 2026.
HMC Capital's annual general meeting is scheduled for November 18, 2026.

HMC, AU0000058943, Illustration mit AI erstellt.

HMC Capital (AU0000058943) drew coverage from Morningstar on October 20, 2026, with an AUD 2.80 fair value estimate and a no-moat rating. The report described AUD 17.0 billion of fee-generating assets under management across four investment areas.

Morningstar sees AUD 17 billion in AUM

The coverage establishes a valuation reference while highlighting the scale of HMC Capital's platform. Morningstar said 60.00 percent of the AUD 17.0 billion in fee-generating assets under management was concentrated in three listed real estate investment trusts.

Three milestones frame the case

On August 26, 2026, HMC Capital reported fiscal 2026 pre-tax operating earnings per share of AUD 0.404, according to Kapitales Research. On September 29, 2026, the same review reported recurring funds-management revenue of AUD 165.5 million, up 22.00 percent from fiscal 2025. On October 20, 2026, Morningstar initiated coverage with the AUD 2.80 fair value estimate.

What can support the valuation?

Kapitales Research said fiscal 2027 guidance calls for at least AUD 0.35 in underlying earnings per share and AUD 0.15 in dividends per share, with recurring funds-management revenue targeted to grow more than 30.00 percent. That outlook places earnings conversion and capital deployment at the center of the valuation discussion.

The next date is November 18

HMC Capital's investor centre schedules its annual general meeting for November 18, 2026, at 11:00 a.m. Sydney time, according to HMC Capital. The meeting follows the annual report and notice of meeting dated October 16, 2026.

ASX range keeps valuation in view

HMC Capital was last at AUD 2.67 on the ASX on October 23, 2026, at 4:10 p.m. AEDT, within its AUD 2.16 to AUD 4.62 52-week range. Market capitalization stood at AUD 1.1 billion as of October 23, 2026. The further course of trading is shown by the continuously updated real-time quote of HMC Capital stock.