WAYPOINT REIT LIMITED (WPR)
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WPR - WAYPOINT REIT LIMITED

FNArena Sector : REITs
Year End: December
GICS Industry Group : Real Estate
Debt/EBITDA: 6.16
Index: ASX200 | ASX300 | ALL-ORDS

Waypoint REIT, formerly Viva Energy REIT, is an Australian real estate investment trust with a portfolio of service stations and convenience properties. It listed on the ASX in 2016.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.44

22 Jul
2024

0.010

OPEN

$2.42

0.41%

HIGH

$2.45

740,220

LOW

$2.42

TARGET
$2.52 3.3% upside
OTHER COMPANIES IN THE SAME SECTOR
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FNARENA'S MARKET CONSENSUS FORECASTS
WPR: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx - 11.8 16.3 xxx
DPS (cps) xxx 16.5 16.5 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx - 0.7% - 0.2% xxx
PE Ratio xxx N/A 15.0 xxx
Dividend Yield xxx N/A 6.7% xxx
Div Pay Ratio(%) xxx N/A 100.9% xxx

Dividend yield today if purchased 3 years ago: 6.44%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.73

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: 27/03 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx-11.8
DPS All xxxxxxxxxxxxxxx16.5
Sales/Revenue xxxxxxxxxxxxxxx164.3 M
Book Value Per Share xxxxxxxxxxxxxxx272.8
Net Operating Cash Flow xxxxxxxxxxxxxxx109.2 M
Net Profit Margin xxxxxxxxxxxxxxx-48.14 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx-4.10 %
Return on Invested Capital xxxxxxxxxxxxxxx-2.81 %
Return on Assets xxxxxxxxxxxxxxx-2.73 %
Return on Equity xxxxxxxxxxxxxxx-4.10 %
Return on Total Capital xxxxxxxxxxxxxxx5.14 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-1.0 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 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx893 M
Total Debt xxxxxxxxxxxxxxx893 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx13 M
Price To Book Value xxxxxxxxxxxxxxx0.89

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx0.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.00 %
Cost of Goods Sold xxxxxxxxxxxxxxx10 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx9 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx2,782 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

-0.2

No. Of Recommendations

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

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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

31/05/2024

3

Hold

$2.49

2.05%

Morgans notes Waypoint REIT management expressed cautious optimism about the outlook for 2024, highlighting uncertainty around the timing of interest rate cuts has kept buyers on the sidelines.

The REIT also reconfirmed 2024 EPS guidance at 16.32cents-16.48cents, assuming -$80m in non-core asset sales or none at all.

The broker assesses an expansion in the portfolio cap rate by 39bps in 2023 to 5.68%, resulting in a -6% decline in the portfolio value.

Currently, Waypoint REIT has $9m of assets under due diligence with further sales underway and the gearing stands at 32.8% with around $100m in liquidity, and new financing due in April 2025, the analyst highlights.

Hold rating unchanged and the target lowered to $2.49 from $2.57.

FORECAST
Morgans forecasts a full year FY24 dividend of 16.40 cents and EPS of 16.40 cents.
Morgans forecasts a full year FY25 dividend of 16.60 cents and EPS of 16.60 cents.

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

(xx/xx/xxxx)

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

07/03/2024

1

Buy

$2.79

14.34%

An in line FY23 result from Waypoint REIT according to Moelis, with the company reporting earnings and dividends of 16.48 cents per share.

The REIT is now guiding to distributable earnings of 16.32-16.48 cents per share for FY24. Moelis points out the top end of this range misses its previous estimates by -2%, accounting for a plan to refinance debt facilities this year.

It is expected the REIT will undertake the divestment of non-core assets totalling around -$80m over the years, which have been a strategic target for a number of years now. 

The Buy rating is retained and the target price decreases to $2.79 from $2.84.

FORECAST
Moelis forecasts a full year FY24 dividend of 16.50 cents and EPS of 16.50 cents.
Moelis forecasts a full year FY25 dividend of 16.40 cents and EPS of 16.40 cents.
Access Stockbroker Research History >

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