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: 5.01
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

$3.86

26 Feb
2026

0.020

OPEN

$3.86

0.52%

HIGH

$3.87

678,637

LOW

$3.84

TARGET
$4.057 5.1% upside
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . ASK . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DGT . DXC . DXI . DXS . GDF . GDI . HCW . HDN . NSR . PLG . REP . RFF . RGN . SCG . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
BWP: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 37.2 19.0 xxx
DPS (cps) xxx 18.7 19.3 xxx
EPS Growth xxx 36.4% - 48.9% xxx
DPS Growth xxx 2.0% 3.3% xxx
PE Ratio xxx N/A 20.3 xxx
Dividend Yield xxx N/A 5.0% xxx
Div Pay Ratio(%) xxx 50.1% 101.2% xxx

Dividend yield today if purchased 3 years ago: 4.81%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.83

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 © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx37.2
DPS All xxxxxxxxxxxxxxx18.7
Sales/Revenue xxxxxxxxxxxxxxx203.3 M
Book Value Per Share xxxxxxxxxxxxxxx398.0
Net Operating Cash Flow xxxxxxxxxxxxxxx119.8 M
Net Profit Margin xxxxxxxxxxxxxxx130.63 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx9.58 %
Return on Invested Capital xxxxxxxxxxxxxxx7.62 %
Return on Assets xxxxxxxxxxxxxxx7.24 %
Return on Equity xxxxxxxxxxxxxxx9.58 %
Return on Total Capital xxxxxxxxxxxxxxx4.53 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-12.0 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx152 M
Long Term Debt xxxxxxxxxxxxxxx656 M
Total Debt xxxxxxxxxxxxxxx808 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx26 M
Price To Book Value xxxxxxxxxxxxxxx0.88

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx0.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.00 %
Cost of Goods Sold xxxxxxxxxxxxxxx37 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx4 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx3,683 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

0.7

No. Of Recommendations

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

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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

Morgan Stanley

16/02/2026

3

Equal-weight

$4.00

3.63%

Morgan Stanley notes for the first time BWP Trust has provided a dividend payout ratio guidance, targeting 90-110% of free funds from operations. The wide range is to account for timing differences. Reported profit in the first half slightly beat estimates.

The company had provided a more detailed focus on developments and its appetite for large format retail (LFR) assets. LFR currently makes up around 30% of the property trust.

Morgan Stanley also notes the business is becoming more active with close to $100m of capital expenditure expected in FY26, including site re-purposing. Target is $4. Equal-weight. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 19.40 cents and EPS of 18.70 cents.
Morgan Stanley forecasts a full year FY27 dividend of 20.10 cents and EPS of 20.10 cents.

Citi

xx/xx/xxxx

1

xxx

$xx.xx

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

18/02/2026

3

Upgrade to Neutral from Underweight

$3.95

2.33%

BWP Trust’s 1H26 result came in slightly ahead of expectations, supported by stronger property income rather than any change in distribution guidance. Funds from operations were 9.7c, above both Jarden and consensus, while FY26 DPU guidance was held at 19.41c.

The analyst highlights occupancy at a cyclical low of 96.7% but expects improvement towards around 99% by the end of FY26, alongside an elevated FY26 capex program of -$60-70m which is expected to be accretive once projects complete.

The broker lifts FFO forecasts by 3.1% for FY26, 1.3% for FY27 and 1.2% for FY28 and upgrades the stock to Neutral from Underweight and raises the target price to $3.95 from $3.85.

FORECAST
Jarden forecasts a full year FY26 dividend of 19.40 cents and EPS of 19.40 cents.
Jarden forecasts a full year FY27 dividend of 19.70 cents and EPS of 19.50 cents.
Access Extra Coverage Research History >

BWP STOCK CHART

FNArena News on BWP

1
Rudi’s View: Positives From February Results

Feb 26 2026 - Rudi's View
2
In Case You Missed It – BC Extra Upgrades & Downgrades – 20-02-26

Feb 20 2026 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Feb 18, 2026

Feb 18 2026 - Daily Market Reports
4
FNArena Corporate Results Monitor – 13-02-2026

Feb 13 2026 - Australia
5
Rudi’s View: Woolies, CSL, Macquarie (& More)

Feb 05 2026 - Rudi's View

Latest REITs News

1
Australian Listed Real Estate Tables – 23-02-2026

Feb 23 2026 - Weekly Reports
2
Australian Listed Real Estate Tables – 16-02-2026

Feb 16 2026 - Weekly Reports
3
Australian Listed Real Estate Tables – 09-02-2026

Feb 09 2026 - Weekly Reports
4
Australian Listed Real Estate Tables – 02-02-2026

Feb 02 2026 - Weekly Reports
5
Australian Listed Real Estate Tables – 27-01-2026

Jan 27 2026 - Weekly Reports
6
Australian Listed Real Estate Tables – 22-12-2025

Dec 22 2025 - Weekly Reports
7
Australian Listed Real Estate Tables – 15-12-2025

Dec 15 2025 - Weekly Reports
8
Australian Listed Real Estate Tables – 08-12-2025

Dec 08 2025 - Weekly Reports
9
Australian Listed Real Estate Tables – 01-12-2025

Dec 01 2025 - Weekly Reports
10
Australian Listed Real Estate Tables – 24-11-2025

Nov 24 2025 - Weekly Reports