An announcement from Waypoint REIT Ltd. ( (AU:WPR) ) is now available.
Waypoint REIT reported its FY24 results with distributable earnings per security aligning with guidance at 16.48 cents and distributable earnings totaling $110.7 million, consistent with the previous year. The company achieved a statutory net profit of $131.5 million, a significant turnaround from the previous year’s loss, largely due to valuation movements in its investment property portfolio. The portfolio, valued at $2,793.5 million, saw a net valuation gain of $28.4 million, with a high occupancy rate of 99.9% and a weighted average lease expiry of 7.1 years. Waypoint REIT maintained a gearing of 32.6%, at the lower end of its target range, and extended its average debt maturity to 4.1 years. The management expense ratio remains one of the lowest in the S&P/ASX 200 REIT Index, and the final distribution for the quarter ended December 2024 is confirmed at 4.12 cents per security.
More about Waypoint REIT Ltd.
Waypoint REIT is Australia’s largest listed Real Estate Investment Trust (REIT) focused exclusively on owning fuel and convenience retail properties. The company has a high-quality network spanning all Australian States and mainland Territories, aiming to maximize long-term returns for its securityholders.
YTD Price Performance: 3.43%
Average Trading Volume: 1,204,382
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$1.62B
For a thorough assessment of WPR stock, go to TipRanks’ Stock Analysis page.