Morningstar

BWP Trust

03/08/2022 19:56

** Analysts at Morningstar say Australian property manager
BWP Trust  BWP.AX  must contend with headwinds from rising
management fees and interest rates, offsetting upside to rents
from accelerating inflation
    ** Morningstar says it expects distributions to remain flat
for the next five years before CPI-like growth resumes
    ** Brokerage maintains A$3.60 fair value estimate and
considers BWP overvalued at current prices
    ** Co on Wednesday posted https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02549220-6A1103017?access_token=83ff96335c2d45a094df02a206a39ff4
 FY profit from ordinary activities attributable of A$486.6 mln
($337.90 mln), up 84.9% on the same period last year
    ** BWP declared final distribution of 9.27 Australian cents
per share
    ** Morningstar adds that co's earnings "remain mired in a
soft patch as key tenant Bunnings progressively vacates old,
small stores for competing premises nearby"
    ** Two of seven analysts rate the stock "hold" and five
"sell" or lower; their median PT is A$3.56 – Refinitiv IBES




($1 = 1.4401 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))