BWP Trust Addresses Numerous Moving Parts, but Uncertainty Prevails in the Short Term
Narrow-moat-rated BWP Trust faces lease expiries in fiscal 2018, and management is focusing its attentions on signing up new tenants at four noncore properties with imminent lease expiries. However, reduction in rental income from some of these properties is likely, in our view. Also, at least two properties could be sold over the next 12 months, namely Altona and Underwood. Management guided to maintaining its distributions in fiscal 2018 at the previous year’s level of AUD 17.5 cents, or bette...BWP Trust is a real estate investment trust, investing in and managing commercial properties throughout Australia. Co. invests in properties with long-term leases to substantial tenants, predominantly in the bulky goods retail sector. The majority of Co.'s properties are retailing properties, in particular, Bunnings Warehouses, leased to Bunnings Group Limited.
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