BWP TRUST (BWP)
Share Price Analysis and Chart

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BWP - BWP TRUST

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 5.35
Index: ASX200 | ASX300 | ALL-ORDS

BWP Trust is an Australian Real Estate Investment Trust with a portfolio of large commercial properties, the majority of which are Bunnings stores. It was listed in 1998.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.42

20 Nov
2024

-0.050

OPEN

$3.46

-1.44%

HIGH

$3.47

862,293

LOW

$3.41

TARGET
$3.887 13.6% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . ASK . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DXC . DXI . DXS . ECF . GDF . GDI . HCW . HDN . NSR . PLG . REP . RFF . RGN . SCG . TGP . URW . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
BWP: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 27.3 18.5 xxx
DPS (cps) xxx 18.3 18.5 xxx
EPS Growth xxx 100.0% - 32.3% xxx
DPS Growth xxx 0.0% 1.0% xxx
PE Ratio xxx N/A 18.4 xxx
Dividend Yield xxx N/A 5.4% xxx
Div Pay Ratio(%) xxx 67.0% 100.0% xxx

Dividend yield today if purchased 3 years ago: 4.44%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.40

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 28/12 - ex-div 9.02c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx27.3
DPS All xxxxxxxxxxxxxxx18.3
Sales/Revenue xxxxxxxxxxxxxxx174.5 M
Book Value Per Share xxxxxxxxxxxxxxx379.5
Net Operating Cash Flow xxxxxxxxxxxxxxx128.8 M
Net Profit Margin xxxxxxxxxxxxxxx103.30 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx7.05 %
Return on Invested Capital xxxxxxxxxxxxxxx5.68 %
Return on Assets xxxxxxxxxxxxxxx5.51 %
Return on Equity xxxxxxxxxxxxxxx7.05 %
Return on Total Capital xxxxxxxxxxxxxxx4.55 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx11.3 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx772 M
Total Debt xxxxxxxxxxxxxxx772 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx27 M
Price To Book Value xxxxxxxxxxxxxxx0.91

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx0.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.00 %
Cost of Goods Sold xxxxxxxxxxxxxxx29 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx3,538 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.3

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Citi

15/08/2024

5

Sell

$3.40

-0.58%

Following yesterday's initial take on BWP Trust's FY24 result, Citi leaves its Sell rating in place, despite high quality earnings and dividend yield, as the REIT remains expensive relative to peers. The $3.40 target is also unchanged.

A summary of yesterday's research by Citi follows.

After making an early assessment, Citi anticipates a relatively muted share price response from today's stable set of FY24 results by BWP Trust.

A dividend of 8.29cpu was in line with forecasts by consensus and the broker, and the REIT is guiding to 2% growth in DPS for FY25, broadly in line with expectations by both.

In the analyst's view, gearing remains relatively prudent at 21.5%. 

FORECAST
Citi forecasts a full year FY25 dividend of 18.70 cents and EPS of 18.80 cents.
Citi forecasts a full year FY26 dividend of 19.00 cents and EPS of 19.40 cents.

UBS

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxx

$xx.xx

(xx/xx/xxxx)

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Moelis

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Jarden

20/08/2024

4

Underweight

$3.55

3.80%

BWP Trust's FY24 FFO fell shy of Jarden's forecasts but DPU and the broker observes DPU guidance suggests a return to growth from FY25.

Jarden says management's presentation points to more active asset recycling, and the broker expects the Newmark Property REIT acquisition should help boost scale and growth.

Underweight rating retained on valuation. Target price is steady at $3.55.

FORECAST
Jarden forecasts a full year FY25 dividend of 18.90 cents and EPS of 18.70 cents.
Jarden forecasts a full year FY26 EPS of 19.90 cents.
Access Extra Coverage Research History >

BWP STOCK CHART

FNArena News on BWP

1
Weekly Ratings, Targets, Forecast Changes – 20-09-24

Sep 23 2024 - Weekly Reports
2
In Case You Missed It – BC Extra Upgrades & Downgrades – 23-08-24

Aug 23 2024 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Aug 20, 2024

Aug 20 2024 - Daily Market Reports
4
FNArena Corporate Results Monitor – 15-08-2024

Aug 15 2024 - Australia
5
Pros & Cons Of Discounted A-REITs

Jul 16 2024 - Feature Stories

Latest REITs News

1
Australian Listed Real Estate Tables – 18-11-2024

Nov 18 2024 - Weekly Reports
2
Australian Listed Real Estate Tables – 11-11-2024

Nov 11 2024 - Weekly Reports
3
Australian Listed Real Estate Tables – 04-11-2024

Nov 04 2024 - Weekly Reports
4
Australian Listed Real Estate Tables – 28-10-2024

Oct 28 2024 - Weekly Reports
5
Australian Listed Real Estate Tables – 21-10-2024

Oct 21 2024 - Weekly Reports
6
Australian Listed Real Estate Tables – 14-10-2024

Oct 14 2024 - Weekly Reports
7
The Case For Charter Hall

Oct 07 2024 - Australia
8
Australian Listed Real Estate Tables – 07-10-2024

Oct 07 2024 - Weekly Reports
9
Australian Listed Real Estate Tables – 30-09-2024

Sep 30 2024 - Weekly Reports
10
Australian Listed Real Estate Tables – 23-09-2024

Sep 23 2024 - Weekly Reports