This verse consists of two related sentences. They are: 1) saddho silena sampanno yasobhogasamappito yaj yaj padesaj bhajati (to whatever region does one with trust, possessed of virtue, endowed with fame and wealth resort). There are three subjects, the past participle saddho (with trust, nominative singular), the compound yasobhogasamappito (endowed with fame and wealth, nominative singular) and the past participle sampanno (possessed of, nominative singular) with its attribute, the noun silena (by virtue, instrumental singular). The verb is bhajati (resorts, 3rd person, singular, active, indicative, present tense). The object is the noun padesaj (to region, accusative singular) with its attribute, two relative pronouns yaj (to which, accusative singular). They form a phrase "whatever" and connect this sentence to the following one. 2) tattha tattheva pujito (he is respected everywhere). The subject is omitted; the subjects from the previous sentence are implied. The verb is omitted, implying the verb to be. The object is the past participle pujito (respected, nominative singular). It has an attribute, two adverbs tattha (there). The second of them is stressed by the particle eva (just). The adverbs form a phrase "everywhere" and connect this sentence to the previous one.
Venerable Sariputta had a lay disciple named Citta. Although he was not a monk he attained the third level of Awakenment. Once he came to Savatthi in order to pay his respects to the Buddha. He came with a caravan, many carts loaded with food and other goods. He stayed in the monastery many days, continually making offerings to the Buddha and monks. But still his goods did not diminish one bit. The day before he had to leave for his hometown, Citta offered all of his goods to the Community. But his carts were immediately full again! The gods filled them up with various priceless things. Venerable Ananda reported this to the Buddha. He replied with this verse, saying that somebody as Citta will be revered wherever he goes.