Australia's BWP Trust slumps; FY results meet Citi estimates

BWP Trust

02/08/2023 05:06

** Shares of BWP Trust  BWP.AX  fall as much as 2.2% to
A$3.590, their lowest since July 12 
    ** The real estate investment trust posts full-year total
income of A$158.2 mln ($104.25 mln) - in line with Citi
estimates
    ** BWP expects distribution for the year ending 30 June 2024
to be similar to the ordinary distribution paid for the current
FY
    ** FY24 dividend guidance is slightly above consensus
expectations but supported by undistributed income reserve -
Citi
    ** Brokerage has a target price of A$3.50 for co
    ** 1 of 7 analysts rate the stock "hold" and 6 "sell" or
lower; their median PT is A$3.56 – Refinitiv data
    ** Stock down 6.1% this year, as of last close

($1 = 1.5175 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))