ASX:WPRRetail REITs
Waypoint REIT (ASX:WPR) Shares Face Mounting Pressure From Higher Interest Costs
Waypoint REIT shares closed at A$2.43 on Thursday, only slightly changed over the past week, even as the latest half year earnings put one issue in sharp focus. The real story is not distributable earnings per security or rental growth. It is the growing strain from interest costs on a highly geared, income focused vehicle.
Distributable earnings per security for the half came in at A$0.0859 and management reaffirmed full year guidance. Yet interest payments are still not comfortably covered...