Australia's BWP Trust extends losses on flat payout forecast

BWP Trust

05/08/2021 04:45

** Property manager BWP Trust  BWP.AX  drops as much as 1.3%
to A$3.960, extending losses into a second session to hit a
4-month low
    ** BWP on Wednesday reported an almost 25% jump in full-year
profit but forecast distribution to remain flat at 18.29 cents
per share (cps) for the next year  urn:newsml:reuters.com:*:nFWN2PA0WX
    ** Brokerage Citi says since co's FY22 earnings per share is
expected to be 17.9c, it would likely require capital profits to
maintain distribution 
    ** Co's focus on acquisitions could help offset the earnings
impact of the BWP's  portfolio repositioning - Citi
    ** Brokerage sees this a source of upside risk, raises price
target marginally to A$2.90 from A$2.89; remains "sell" rated
    ** Including the day's losses, BWP down ~10% this year

 (Reporting by Anushka Trivedi in Bengaluru)
 ((Anushka.Trivedi@thomsonreuters.com; +918061823241;))