BWP Trust (BWP) - Research

$3.750 0.15 (3.85%)

BWP General Information +

ASX Code BWP
Website http://www.bwptrust.com.au
GICS Sub-Industry Retail REITs
Market Cap ($M) 2,408
Current Price $3.750
Day High $3.830
Day Low $3.730
Last Close $3.900
Price Movement $0.15 ( 3.85% )
Prices as at 16:40, 27 Jun 2019
+Security prices are delayed by at least 20 minutes and are indicative only.

Recommendation


BWP Trust (BWP)
BUY
below
HOLD
up to
SELL
above
Current Price
$3.750 as at 16:40, 27 Jun 2019

Price at review
$3.750 on 07 Feb 19

Max Portfolio Weighting

Business Risk

Share Price Risk

BWP Related Research

BWP Company Overview

Business Description

BWP Trust (BWP) is a listed managed investment scheme which invests in commercial real estate throughout Australia. The majority of its properties are Bunnings Warehouse properties tenanted by Bunnings Group Limited, a wholly owned subsidiary of Wesfarmers Limited. The BWP Trust is managed by unlisted responsible entity, BWP Management Limited.

BWP Financial Summary

Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2020 F 136.47 21.24 1.70% 18.36 18.47 4.74% 0.0%
2019 F 134.22 20.89 -1.00% 18.67 18.09 4.64% 0.0%
2018 A 135.63 21.11 -15.90% 14.42 17.81 5.85% 0.0%

BWP Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2018 A 2019 F 2020 F 2018 A 2019 F 2020 F 2018 A 2019 F 2020 F
BWP Trust (BWP) $2,505M 0.0286 0.0766 0.0041 21.6546 20.1135 20.0308 4.57% 4.64% 4.66%
Scentre (SCG) $20,949M 0.1349 0.0307 0.0329 15.9256 15.4510 14.9582 5.62% 5.74% 5.87%
Shopping Centres Australasia Property (SCP) $2,379M -0.0872 0.2030 0.0302 19.0370 15.8251 15.3616 5.41% 5.72% 5.87%
Unibail-Rodamco-Westfield (URW) $3,400M 0.0000 3.8028 0.0570 54.7521 11.3978 10.7833 4.12% 7.96% 8.36%
Vicinity Centres (VCX) $9,920M -0.7191 0.0847 -0.0149 15.6921 14.4664 14.6845 6.20% 6.06% 5.94%

BWP Market Comparison

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.78 20.10 1.37 5.06
Market 0.87 17.10 1.49 1.63
Sector 0.75 16.60 1.12 1.37

BWP Directors

Name Position Start Date
Mr Michael James Wedgwood Managing Director 24 Feb 2014
Mr Anthony (Tony) John Howarth Non-Executive Director 1 Oct 2012
Ms Fiona Elizabeth Harris Non-Executive Director 1 Oct 2012
Mr Richard David Higgins Non-Executive Director 5 Dec 2007
Mr Michael (Mike) Steur Non-Executive Director 1 Feb 2015
Mr Erich Fraunschiel Non-Executive Director, Non-Executive Chairman 1 Feb 2015

BWP Management

Name Position
Karen A Lange Company Secretary

BWP Substantial Shareholders

Holding Name
151,863,632 (23.64%) Wesfarmers Group
39,129,814 (6.09%) The Vanguard Group Inc.

BWP Calendar of Events

Date Event
05 February 2020 Report (Interim)
23 August 2019 Div Pay Date
31 July 2019 Report (Annual)
31 July 2019 Report (Prelim)
28 June 2019 Books Close

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