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Waypoint REIT Ltd.
(Sydney:WPR)
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Rating:72Outperform
Price Target:
AU$3.00
▲(18.58% Upside)
Action:Reiterated
Date:08/04/26
The score is driven primarily by steady operating/free cash flow and moderate leverage, balanced against volatility in reported earnings and a sharp 2025 revenue decline. Valuation is a key positive (low P/E and high dividend yield), while technicals are mildly supportive with price above key moving averages but only moderate momentum.
Positive Factors
Contractual rental income
Long-term, contractually agreed lease payments with periodic escalations create a predictable revenue base typical of a land‑lease REIT. This structure supports durable cash inflows, underpins distributions and planning, and reduces sensitivity to short‑term retail sales volatility.
Negative Factors
Sharp recent revenue decline
A material revenue fall reduces headroom for distributions and weakens coverage ratios even if cash flow stayed positive. If the drop reflects asset sales, lease rolloffs or tenant downsizing, it can structurally lower recurring income and limit ability to grow or maintain payouts over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Contractual rental income
Long-term, contractually agreed lease payments with periodic escalations create a predictable revenue base typical of a land‑lease REIT. This structure supports durable cash inflows, underpins distributions and planning, and reduces sensitivity to short‑term retail sales volatility.
Read all positive factors
Waypoint REIT Ltd. (WPR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.63B
Dividend Yield6.79%
Average Volume (3M)2.20M
Price to Earnings (P/E)8.4
Beta (1Y)0.24
Revenue Growth-0.79%
EPS Growth54.01%
CountryAU
Employees8
SectorReal Estate
Sector Strength53
IndustryREIT - Specialty
Share Statistics
EPS (TTM)0.30
Shares Outstanding653,073,550
10 Day Avg. Volume2,290,676
30 Day Avg. Volume2,200,004
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)0.89
Price to Sales (P/S)10.32
P/FCF Ratio15.21
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$2.55Price Target Upside0.79% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.17
Revenue Forecast (FY)AU$168.38M
Waypoint REIT Ltd. Business Overview & Revenue Model
Company Description
Waypoint REIT operates as Australia's foremost publicly listed real estate investment trust, concentrating solely on service station and convenience retail assets. Its extensive, high-quality portfolio encompasses all Australian states and mainlan...
How the Company Makes Money
Waypoint REIT primarily makes money by collecting rental income from its property portfolio. Its core revenue stream is lease payments from tenants operating fuel and convenience retail sites on WPR-owned land and buildings, with leases generally ...
Waypoint REIT Ltd. Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
74
Positive
Cash Flow
72
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 163.70M | 165.00M | 164.30M | 168.60M | 178.40M |
| Gross Profit | 153.00M | 165.00M | 154.20M | 157.90M | 168.50M |
| EBITDA | 248.60M | 157.90M | 144.90M | 157.90M | 168.50M |
| Net Income | 200.10M | 131.50M | -79.10M | 133.80M | 443.60M |
Balance Sheet | |||||
| Total Assets | 2.88B | 2.83B | 2.80B | 2.99B | 3.13B |
| Cash, Cash Equivalents and Short-Term Investments | 14.40M | 14.70M | 13.30M | 14.00M | 19.00M |
| Total Debt | 932.80M | 919.50M | 892.70M | 884.50M | 929.50M |
| Total Liabilities | 986.40M | 970.20M | 965.30M | 959.70M | 999.90M |
| Stockholders Equity | 1.89B | 1.85B | 1.83B | 2.03B | 2.13B |
Cash Flow | |||||
| Free Cash Flow | 111.10M | 110.80M | 109.20M | 116.20M | 121.20M |
| Operating Cash Flow | 111.10M | 110.80M | 109.20M | 116.20M | 121.20M |
| Investing Cash Flow | 37.60M | 2.50M | -200.00K | 159.60M | 127.60M |
| Financing Cash Flow | -149.00M | -111.90M | -109.70M | -280.80M | -245.30M |
Waypoint REIT Ltd. Technical Analysis
Positive
2.53
Price Trends
2.43
Positive
2.41
Positive
2.43
Positive
Market Momentum
0.02
Negative
59.69
Neutral
69.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:WPR, the sentiment is Positive. The current price of 2.53 is above the 20-day moving average (MA) of 2.47, above the 50-day MA of 2.43, and above the 200-day MA of 2.43, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 59.69 is Neutral, neither overbought nor oversold. The STOCH value of 69.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:WPR.
Waypoint REIT Ltd. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | AU$2.64B | 6.88 | 11.96% | 6.88% | 5.78% | 79.44% | |
78 Outperform | AU$1.88B | 13.68 | 5.63% | 4.85% | 2.44% | 42.65% | |
72 Outperform | AU$1.63B | 8.40 | 21.02% | 6.30% | -0.79% | 54.01% | |
71 Outperform | AU$1.30B | 8.62 | 11.87% | 5.14% | 13.45% | 75.99% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
57 Neutral | AU$844.51M | 42.46 | 5.12% | 9.19% | 4.64% | ― | |
53 Neutral | AU$1.68B | 45.88 | 1.57% | 8.60% | -0.81% | ― |
* Real Estate Sector Average
AU:WPR
Waypoint REIT Ltd.
2.51
0.13
5.24%
AU:GOZ
Growthpoint Properties Australia
2.24
-0.08
-3.49%
AU:ARF
Arena REIT
3.28
-0.31
-8.51%
AU:HDN
HomeCo Daily Needs REIT
1.29
0.09
7.68%
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3.03
-0.10
-3.23%
AU:ABG
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0.93
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-17.26%
Waypoint REIT Ltd. Corporate Events
Waypoint REIT Declares Quarterly Distribution for June 2026 Period
Jun 18, 2026
Waypoint REIT has declared a quarterly distribution of AUD 0.0425 per fully paid stapled security for the period ending 30 June 2026, with an ex-date of 29 June, a record date of 30 June and payment scheduled for 31 August 2026. The announcement c...
Waypoint REIT Director Trims Holding in On‑Market Trade
Jun 10, 2026
Waypoint REIT has disclosed a change in the security holdings of director Hadyn James Stephens, in line with ASX listing rule requirements for director interest notices. The filing details his direct and indirect interests across ordinary stapled ...
Waypoint REIT Shifts Registered Office to New Melbourne Headquarters
Jun 8, 2026
Waypoint REIT, Australia’s largest listed REIT dedicated to fuel and convenience retail properties with 395 assets nationwide as at the end of 2025, operates as a stapled entity comprising Waypoint REIT Limited and the Waypoint REIT Trust. T...
Waypoint REIT boosts director equity with 2026 long-term incentive grant
May 26, 2026
Waypoint REIT has disclosed a change in the holdings of director Hadyn James Stephens, detailing an update to his interests in stapled securities and performance rights. The filing shows an issuance of 258,812 performance rights to Stephens under ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.