Waypoint REIT Reports Steady Earnings and Profit Surge

Waypoint REIT Ltd. (AU:WPR) has released an update.

Waypoint REIT Ltd., Australia’s leading REIT specializing in fuel and convenience retail properties, has maintained its distributable earnings at $55.6 million for the first half of 2024, matching the previous year’s performance despite increased rental income and reduced operating costs being offset by higher net interest expenses. The company’s statutory net profit saw a significant rise of 220.6% to $93.3 million, mainly due to positive valuation movements on investment property. Their solid financial position is further underscored by a 2.1% increase in net tangible assets per security and a stable property portfolio with nearly full occupancy and a weighted average lease expiry of 7.6 years.

For further insights into AU:WPR stock, check out TipRanks’ Stock Analysis page.