BWP Trust (BWP) AI Stock Analysis

• Market Cap: AU$2.58B
• Dividend Yield: 5.22%
• Average Volume (3M): 1.36M
• Price to Earnings (P/E): 8.8
• Beta (1Y): 0.55
• Revenue Growth: 19.08%
• EPS Growth: N/A
• Country: AU
• Employees: N/A
• Sector: Real Estate
• Sector Strength: 52
• Industry: REIT - Industrial
• EPS (TTM): 0.09
• Shares Outstanding: 713,511,200
• 10 Day Avg. Volume: 1,615,723
• 30 Day Avg. Volume: 1,358,168
• PEG Ratio: -1.37
• Price to Book (P/B): 1.28
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 21.81
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$3.72
• Price Target Upside: 3.05% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 3

• Rating: 76 Outperform
• Price Target: AU$4.00 ▲(10.80%Upside)

BWP Trust's overall stock score is primarily supported by its strong financial performance and attractive valuation. The financial health of the company is evident through high profit margins, moderate leverage, and robust cash flow generation. Its valuation, marked by a low P/E ratio and high dividend yield, further enhances its attractiveness. The technical indicators suggest a stable, albeit unremarkable, market position.

BWP Trust Business Overview & Revenue Model

Company Description

BWP Trust (BWP) is a real estate investment trust listed on the Australian Securities Exchange, specializing in the ownership and management of commercial properties. The trust's portfolio primarily consists of large-format retail properties, with a significant portion leased to Bunnings Warehouse, a leading retailer in home improvement and outdoor living products in Australia. BWP Trust focuses on generating stable income and capital growth for its investors through strategic property acquisitions and management.

How the Company Makes Money

BWP Trust makes money primarily through the rental income generated from its portfolio of commercial properties. The trust leases its properties to tenants, with Bunnings Warehouse being its major tenant, providing a stable and reliable source of revenue. Additionally, BWP Trust may engage in property development activities to enhance the value and appeal of its properties, thereby increasing rental income potential. The trust also benefits from periodic property revaluations that can lead to capital growth, which contributes to overall earnings. The company's revenue model relies heavily on maintaining high occupancy rates and negotiating favorable lease agreements with tenants, ensuring a consistent cash flow for its investors.

BWP Trust Financial Statement Overview

Summary

BWP Trust demonstrates strong financial health with growing revenues and efficient cost management leading to high profit margins. The balance sheet indicates moderate leverage and substantial shareholder equity, contributing to financial stability. The company also showcases robust cash flow generation, supporting its net income effectively. This positions BWP Trust well for continued growth and stability within the REIT - Industrial sector.

Income Statement

BWP Trust has shown a solid financial performance with a consistent increase in total revenue from $158 million in 2023 to $174 million in 2024. The Gross Profit Margin is approximately 83.45%, indicating efficient cost management. The Net Profit Margin has significantly improved to 103.31%, primarily due to a substantial increase in net income. The EBIT and EBITDA margins are robust at 82.49% and 82.72%, respectively, reflecting strong operational performance.

Balance Sheet

The company maintains a strong balance sheet with a Debt-to-Equity Ratio of 0.29, which implies moderate leverage. The Return on Equity stands at 6.66%, showing a reasonable return on stockholders' investment. An Equity Ratio of 75.51% suggests that a large portion of the company's assets are funded by shareholders' equity, indicating financial stability.

Cash Flow

BWP Trust's Free Cash Flow showed a growth rate of 7.53% year-over-year, indicating healthy cash generation. The Operating Cash Flow to Net Income Ratio is 0.71, suggesting that a significant portion of net income is supported by operating cash flow. The Free Cash Flow to Net Income Ratio is also 0.71, reflecting strong cash flow management relative to net income.

Breakdown	TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement
Total Revenue	192.39M	174.46M	158.16M	153.27M	152.24M	155.78M
Gross Profit	172.03M	145.59M	131.11M	129.38M	129.70M	141.42M
EBITDA	173.96M	205.67M	53.41M	128.48M	128.95M	226.16M
Net Income	284.10M	180.22M	36.69M	486.64M	263.17M	210.64M
Balance Sheet
Total Assets	3.68B	3.59B	2.96B	3.02B	2.67B	2.55B
Cash, Cash Equivalents and Short-Term Investments	27.91M	27.30M	16.83M	11.86M	33.07M	64.19M
Total Debt	786.87M	771.60M	466.00M	452.70M	471.10M	499.60M
Total Liabilities	883.60M	878.78M	554.31M	535.58M	558.19M	583.83M
Stockholders Equity	2.80B	2.71B	2.41B	2.49B	2.12B	1.97B
Cash Flow
Free Cash Flow	125.53M	128.76M	119.75M	111.04M	112.35M	109.67M
Operating Cash Flow	125.53M	128.76M	119.75M	111.04M	112.35M	109.67M
Investing Cash Flow	14.46M	-23.14M	-10.15M	4.35M	2.54M	-26.98M
Financing Cash Flow	-130.95M	-95.16M	-104.62M	-136.60M	-146.01M	-36.42M

BWP Trust Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.61
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BWP, the sentiment is Positive. The current price of 3.61 is above the 20-day moving average (MA) of 3.55, above the 50-day MA of 3.52, and above the 200-day MA of 3.37, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 58.98 is Neutral, neither overbought nor oversold. The STOCH value of 63.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:BWP.

BWP Trust Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BWP	76 Outperform	AU$2.58B	8.82	10.93%	5.22%	19.08%	―
CQR	74 Outperform	€2.27B	13.50	6.37%	6.36%	-7.70%	―
HDN	74 Outperform	AU$2.67B	12.71	6.98%	6.67%	-1.08%	―
RGN	71 Outperform	AU$2.63B	19.67	4.80%	6.17%	-10.24%	―
CLW	71 Outperform	AU$2.98B	―	-5.75%	6.01%	-15.42%	65.86%
CIP	69 Neutral	AU$2.02B	20.49	3.99%	5.16%	4.34%	―
Sector *	61 Neutral	AU$2.87B	8.06	4.17%	5.05%	17.25%	41.52%

BWP Trust Corporate Events

Wesfarmers Sells BWP Management to BWP Trust, Resets Bunnings Leases

Wesfarmers announced the internalisation of BWP Trust’s management by selling its 100% interest in BWP Management Limited to BWP for $142.6 million. This transaction allows BWP to operate as an independently managed trust and includes a lease reset with Bunnings, extending the tenure for 62 sites and enabling further capital investment. The transaction is expected to complete in the first half of the 2026 financial year, subject to approvals.

The most recent analyst rating on (AU:BWP) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on BWP Trust stock, see the AU:BWP Stock Forecast page.

BWP Trust Proposes Management Internalization and Lease Restructuring

BWP Trust has announced a proposal for the internalization of its management functions, restructuring of Bunnings leases, and capital expenditure commitments for store expansions and network upgrades. These changes aim to enhance operational efficiency and potentially improve returns for investors, with the proposal requiring approval at an upcoming Extraordinary General Meeting.

The most recent analyst rating on (AU:BWP) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on BWP Trust stock, see the AU:BWP Stock Forecast page.

BWP Trust Announces Strategic Internalization and Lease Reset

BWP Trust, managed by BWP Management Limited, has announced a significant transaction involving the internalization of its management and a lease reset with Bunnings, alongside a capital investment. This move is expected to enhance the company’s operational efficiency and strengthen its market position. The announcement highlights BWP Trust’s strategic focus on growth and stability, aiming to provide better returns for its stakeholders and improve its competitive edge in the property investment sector.

The most recent analyst rating on (AU:BWP) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on BWP Trust stock, see the AU:BWP Stock Forecast page.

BWP Trust Announces Strategic Internalization and Lease Reset Proposal

BWP Trust has announced a significant proposal involving the internalization of its management functions, a reset of lease terms with Bunnings, and capital investment commitments. This proposal aims to enhance tenant retention, income certainty, and lease expiries, while also reducing operating costs and aligning BWP with market standards for REIT management. The changes are expected to increase property valuations and distributions, improve corporate governance, and provide a platform for future growth and diversification.

The most recent analyst rating on (AU:BWP) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on BWP Trust stock, see the AU:BWP Stock Forecast page.

BWP Trust Reports $45 Million Revaluation Gain in Property Portfolio

BWP Trust announced a net revaluation gain of approximately $45 million for its investment property portfolio for the six months ending 30 June 2025. This gain is attributed to rental increases and a slight compression in the weighted average capitalisation rate to 5.40%. These revaluations, conducted by independent valuers and directors, will be finalized by the Board as part of the annual accounts and audit process, with full-year results expected on 6 August 2025.

The most recent analyst rating on (AU:BWP) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on BWP Trust stock, see the AU:BWP Stock Forecast page.

BWP Trust Announces June 2025 Distribution Estimate

BWP Management Limited, the responsible entity for BWP Trust, has announced a preliminary distribution estimate for the six-month period ending 30 June 2025. The estimated distribution is 9.45 cents per unit, based on unaudited accounts, with no conduit foreign income expected. The distribution reinvestment plan will be suspended, and unitholders will receive their distribution via direct credit on 27 August 2025.

The most recent analyst rating on (AU:BWP) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on BWP Trust stock, see the AU:BWP Stock Forecast page.

BWP Trust Announces New Distribution for Investors

BWP Trust has announced a new distribution of AUD 0.0945 per ordinary unit, covering a six-month period ending on June 30, 2025. The ex-date for this distribution is set for June 27, 2025, with a record date of June 30, 2025, and payment scheduled for August 27, 2025. This announcement reflects BWP Trust’s ongoing commitment to providing returns to its investors and may influence its market positioning by demonstrating financial stability and consistent performance.

The most recent analyst rating on (AU:BWP) stock is a Hold with a A$4.00 price target. To see the full list of analyst forecasts on BWP Trust stock, see the AU:BWP Stock Forecast page.

BWP Trust Announces Changes in Substantial Holder Interests

BWP Trust has announced a change in the interests of a substantial holder, with State Street Bank and Trust Company and its subsidiaries holding significant voting power in the company. This change reflects the dynamic nature of investment management and trustee roles within the financial sector, potentially impacting the company’s governance and decision-making processes.