Revenue Headwinds Persist, but Distributions Should Grow
A change in analyst prompts an increase narrow-moat BWP Trust's fair value estimate to AUD 3.30 from AUD 2.85 per security.Our new fair value accounts for the difference between BWP’s contracted rents and estimated market rents as well the fair value increases in its properties driven by continued strong investor demand which we expect to persist subject to an adverse market event. The company’s long duration lease agreements to Bunnings, the undisputed leader in Australian home improvement ret...
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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