BWP TRUST (BWP)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

BWP

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

$3.48

20 Feb
2025

-0.020

OPEN

$3.49

-0.57%

HIGH

$3.51

1,513,821

LOW

$3.46

TARGET
$3.77 8.3% upside
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . ASK . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DGT . 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 18.7 xxx
DPS (cps) xxx 18.3 18.7 xxx
EPS Growth xxx 100.0% - 31.5% xxx
DPS Growth xxx 0.0% 2.2% xxx
PE Ratio xxx N/A 18.6 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: 4.50%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.27

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: 30/12 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 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

0.0

No. Of Recommendations

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

Citi

xx/xx/xxxx

3

xxxxxxx xx xxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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

Morgan Stanley

06/02/2025

3

Equal-weight

$3.90

12.07%

Morgan Stanley is pleased by BWP Trust's 1H result given the distribution was covered by earnings for the first time in several years and the reduced number of lease expries yet to be extended in FY26.

The analysts point out a key market concern has been 40% of the REIT's leases will expire over FY26 and FY27.

Profit for the half met the broker's forecast and management reiterated FY25 guidance.

Target $3.90. Equal-weight. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY25 dividend of 18.70 cents and EPS of 18.60 cents.
Morgan Stanley forecasts a full year FY26 dividend of 19.30 cents and EPS of 19.30 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.
Login above or Get a Free Trial
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

xxxx

$xx.xx

xx.xx%

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

Jarden

10/02/2025

4

Underweight

$3.45

-0.86%

Jarden notes BWP Trust had one of its most active 12 months in a long time, with asset sales, site acquisitions, strong leasing momentum and the acquisition of Newmark Property REIT.

The broker sees BWP in a strong position to keep building on this momentum due to its conservative balance sheet. But it will likely need to show evidence of continued earnings growth to support a re-rating beyond the 6% YTD, the broker adds.

The broker has rolled forward its model and increased its FFO forecasts for FY26 and FY27 by 0.9% and 1.8%, respectively, mainly based on a lower BBSW forward curve.

Underweight rating maintained and target price is $3.45.

FORECAST
Jarden forecasts a full year FY25 dividend of 18.70 cents and EPS of 18.70 cents.
Jarden forecasts a full year FY26 dividend of 19.70 cents and EPS of 19.70 cents.
Access Extra Coverage Research History >

BWP STOCK CHART

FNArena News on BWP

1
Australian Broker Call *Extra* Edition – Feb 12, 2025

Feb 12 2025 - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 07-02-25

Feb 10 2025 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Feb 10, 2025

Feb 10 2025 - Daily Market Reports
4
FNArena Corporate Results Monitor – 06-02-2025

Feb 06 2025 - Australia
5
Weekly Ratings, Targets, Forecast Changes – 20-09-24

Sep 23 2024 - Weekly Reports

Latest REITs News

1
Australian Listed Real Estate Tables – 17-02-2025

Feb 17 2025 - Weekly Reports
2
Australian Listed Real Estate Tables – 10-02-2025

Feb 10 2025 - Weekly Reports
3
Australian Listed Real Estate Tables – 03-02-2025

Feb 03 2025 - Weekly Reports
4
Ask FNArena: CSL, Charter Hall & Dexus

Dec 16 2024 - Rudi's View
5
Australian Listed Real Estate Tables – 16-12-2024

Dec 16 2024 - Weekly Reports
6
Australian Listed Real Estate Tables – 09-12-2024

Dec 09 2024 - Weekly Reports
7
Australian Listed Real Estate Tables – 02-12-2024

Dec 02 2024 - Weekly Reports
8
Australian Listed Real Estate Tables – 25-11-2024

Nov 25 2024 - Weekly Reports
9
Australian Listed Real Estate Tables – 18-11-2024

Nov 18 2024 - Weekly Reports
10
Australian Listed Real Estate Tables – 11-11-2024

Nov 11 2024 - Weekly Reports