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
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

$4.05

24 Sep
2021

-0.060

OPEN

$4.09

-1.46%

HIGH

$4.10

1,323,968

LOW

$4.03

TARGET
$3.653 -9.8% downside
Franking for last dividend paid out: 0%
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FNARENA'S MARKET CONSENSUS FORECASTS
BWP: 1
Title FY20
Actual
FY21
Actual
FY22
Forecast
FY23
Forecast
EPS (cps) xxx 41.0 17.7 xxx
DPS (cps) xxx 18.3 18.2 xxx
EPS Growth xxx 24.9% - 56.8% xxx
DPS Growth xxx 0.0% - 0.5% xxx
PE Ratio xxx N/A 22.9 xxx
Dividend Yield xxx N/A 4.5% xxx
Div Pay Ratio(%) xxx 44.6% 102.8% xxx

Dividend yield today if purchased 3 years ago: 5.46%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

4.52

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: 29/06 - 9.27c (0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2021 FactSet UK Limited. All rights reserved
Title 201620172018201920202021
EPS Basic xxxxxxxxxxxxxxx41.0
DPS All xxxxxxxxxxxxxxx18.3
Sales/Revenue xxxxxxxxxxxxxxx152.2 M
Book Value Per Share xxxxxxxxxxxxxxx329.5
Net Operating Cash Flow xxxxxxxxxxxxxxx112.4 M
Net Profit Margin xxxxxxxxxxxxxxx172.86 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201620172018201920202021
Return on Assets xxxxxxxxxxxxxxx10.07 %
Return on Equity xxxxxxxxxxxxxxx12.88 %
Return on Total Capital xxxxxxxxxxxxxxx5.10 %
Capex xxxxxxxxxxxxxxx0.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.00 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-5.1 M

Return on Assets

Return on Equity

Return on Total Capital

Capex

Capex % of Sales

Free Cash Flow ex dividends

This is work in progress. Bear with us. It'll be amazing.

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.8

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

05/08/2021

5

Underweight

$3.65

-9.88%

BWP Trust's FY21 result and FY22 DPS guidance of 18.3 cents were in-line with Morgan Stanley's forecast. Vacating tenants across various locations means that underlying earnings have been under pressure, notes the broker.

As a result, any earnings shortfall in FY22 will be supplemented by capital distributions, says management. Morgan Stanley's Underweight rating and $3.65 are target retained. Industry view: In Line.

The analyst estimates there may be no growth in distribution until FY24, when underlying earnings can fully support payments to
shareholders. Even from that point, there are considered downside risks, given 30% of the portfolio's leases expire in FY26.

FORECAST
Morgan Stanley forecasts a full year FY22 dividend of 18.30 cents and EPS of 18.00 cents.
Morgan Stanley forecasts a full year FY23 dividend of 18.30 cents and EPS of 18.30 cents.

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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BWP STOCK CHART