Announcement • May 08
BWP Trust has filed a Follow-on Equity Offering in the amount of AUD 227.686843 million. BWP Trust has filed a Follow-on Equity Offering in the amount of AUD 227.686843 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 28,033,645
Price\Range: AUD 3.77
Discount Per Security: AUD 0.065975
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 32,360,743
Price\Range: AUD 3.77
Discount Per Security: AUD 0.065975
Transaction Features: Rights Offering Declared Dividend • Dec 24
Final dividend increased to AU$0.096 Dividend of AU$0.096 is 4.1% higher than last year. Ex-date: 30th December 2025 Payment date: 27th February 2026 Dividend yield will be 4.7%, which is lower than the industry average of 5.7%. Upcoming Dividend • Dec 24
Upcoming dividend of AU$0.096 per share Eligible shareholders must have bought the stock before 30 December 2025. Payment date: 27 February 2026. Trailing yield: 4.6%. Lower than top quartile of Australian dividend payers (5.6%). In line with average of industry peers (4.7%). Announcement • Dec 17
An undisclosed buyer acquired ex-Bunnings Morley property in Australia from BWP Trust (ASX:BWP) for AUD 19.5 million. An undisclosed buyer acquired ex-Bunnings Morley property in Australia from BWP Trust (ASX:BWP) for AUD 19.5 million on December 1, 2025. A cash consideration of AUD 19.5 million will be paid by the buyer. As part of consideration, AUD 19.5 million is paid towards assets of ex-Bunnings Morley property in Australia.
An undisclosed buyer completed the acquisition of ex-Bunnings Morley property in Australia from BWP Trust (ASX:BWP) on December 1, 2025. Announcement • Dec 05
BWP Trust Announces Preliminary Distribution Estimate for the Six Months Ending December 31, 2025, Payable on February 27, 2026 BWP Management Limited, as responsible entity for the BWP Trust announced the following preliminary distribution estimate per security of 9.58 cents per stapled security for the six month period to 31 December 2025. The estimated allocation of the distribution between the stapled entities is as follows: 9.58 cents per security distribution from BWP Trust (4.1% above the prior corresponding period). The relevant distribution dates include: Ex-distribution date: 30 December 2025. Record date: 31 December 2025. Distribution entitlement payment (expected): 27 February 2026. It is expected that there will be no conduit foreign income included in the distribution. Announcement • Jun 25
Bwp Trust Declares Ordinary Dividend for Six Months Ending June 30, 2025; Payable on August, 27, 2025 BWP Trust declared ordinary dividend of AUD 0.09450000 for a period of six months ending June 30, 2025. Payable on August, 27, 2025; Record Date: June 30, 2025; Ex-date: June 27, 2025. Reported Earnings • Feb 07
First half 2025 earnings released: EPS: AU$0.22 (vs AU$0.083 in 1H 2024) First half 2025 results: EPS: AU$0.22 (up from AU$0.083 in 1H 2024). Revenue: AU$100.6m (up 22% from 1H 2024). Net income: AU$157.1m (up 195% from 1H 2024). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 3.3% decline forecast for the Retail REITs industry in Australia. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Dec 24
Upcoming dividend of AU$0.092 per share Eligible shareholders must have bought the stock before 30 December 2024. Payment date: 26 February 2025. Trailing yield: 5.3%. Lower than top quartile of Australian dividend payers (6.1%). In line with average of industry peers (5.6%). Declared Dividend • Dec 24
Final dividend of AU$0.092 announced Shareholders will receive a dividend of AU$0.092. Ex-date: 30th December 2024 Payment date: 26th February 2025 Dividend yield will be 5.4%, which is lower than the industry average of 5.7%. Reported Earnings • Aug 14
Full year 2024 earnings released: EPS: AU$0.27 (vs AU$0.057 in FY 2023) Full year 2024 results: EPS: AU$0.27 (up from AU$0.057 in FY 2023). Revenue: AU$174.5m (up 10% from FY 2023). Net income: AU$180.2m (up 391% from FY 2023). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Retail REITs industry in Australia. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Declared Dividend • Jun 23
First half dividend of AU$0.093 announced Dividend of AU$0.093 is the same as last year. Ex-date: 27th June 2024 Payment date: 28th August 2024 Dividend yield will be 5.0%, which is lower than the industry average of 5.7%. New Risk • Mar 31
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Feb 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.7% to AU$3.43. The fair value is estimated to be AU$4.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Feb 11
First half 2024 earnings released: EPS: AU$0.083 (vs AU$0.17 in 1H 2023) First half 2024 results: EPS: AU$0.083 (down from AU$0.17 in 1H 2023). Revenue: AU$82.3m (up 4.7% from 1H 2023). Net income: AU$53.2m (down 52% from 1H 2023). Profit margin: 65% (down from 142% in 1H 2023). Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, while revenues in the Retail REITs industry in Australia are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Dec 21
Upcoming dividend of AU$0.09 per share at 5.1% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 28 February 2024. Trailing yield: 5.1%. Lower than top quartile of Australian dividend payers (6.7%). Lower than average of industry peers (5.8%). Announcement • Dec 13
BWP Trust Announces December 2023 Distribution Estimate, Payable on 28 February 2024 BWP Trust announced the estimated distribution, based on unaudited accounts, is 9.02 cents per unit (including approximately 0.12 cents of capital profits). It is expected that there will be no conduit foreign income included in the distribution. Ex-distribution date is 28 December 2023, Record date is 29 December 2023, and Distribution entitlement payment (expected) is 28 February 2024. Reported Earnings • Aug 03
Full year 2023 earnings released: EPS: AU$0.057 (vs AU$0.76 in FY 2022) Full year 2023 results: EPS: AU$0.057 (down from AU$0.76 in FY 2022). Revenue: AU$158.2m (up 3.2% from FY 2022). Net income: AU$36.7m (down 93% from FY 2022). Profit margin: 23% (down from 318% in FY 2022). Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 1.0% decline forecast for the Retail REITs industry in Australia. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 4% per year. Announcement • Aug 01
BWP Trust Announces Management Changes The Board of BWP Management Limited, the responsible entity for BWP Trust announced that Mark Scatena will succeed Michael Wedgwood as its Managing Director. The appointment of Mr. Scatena follows the announcement on 27 June 2023 in relation to BWP's current Managing Director, Michael Wedgwood's intention to retire in the second half of calendar year 2023. This will allow time for an effective handover process with Mr. Wedgwood. It is planned that Mr. Scatena will take up his appointment as Managing Director towards the end of September this year. Mr. Scatena joined the Wesfarmers Group in 2001 and has held senior roles across WesCEF, Target, Coles and Wesfarmers. Most recently he was General Manager of CSBP Fertilisers and has previously held leadership positions at Target, including as Chief Financial Officer; at Wesfarmers as General Manager Investor Relations and Planning; and at Coles where he was General Manager Finance, supporting the store development, store operations and property functions. Mr. Scatena brings strong financial and commercial acumen, together with extensive knowledge of retail property operations and capital markets. Announcement • Jun 22
BWP Trust Announces Distribution Estimates for the Six Month Period to 30 June 2023, Payment Is Expected to Be Made on 25 August 2023 BWP Trust announced the following preliminary distribution estimate and other relevant distribution details for the six month period to 30 June 2023. The ex-distribution date is 29 June 2023, The record date is 30 June 2023,In accordance with the Trust's constitution all distributable profit will be distributed. The estimated distribution, based on current forecasts, is 9.27 cents per unit (including approximately 0.60 cents of capital profits). It is expected that there will be no conduit foreign income included in the distribution. The actual distribution will be considered at a meeting of the BWP Management Limited Board of directors scheduled for 2 August 2023 and payment of the distribution entitlement is expected to be made on 25 August 2023. Announcement • Feb 08
BWP Trust Declares Distribution for the Half-Year Ended 31 December 2022, Payable on 24 February 2023 The Board of BWP Management Limited, the responsible entity of BWP Trust ("the Trust") declared Distribution of 9.02 cents per unit for the half-year ended 31 December 2022. Ex-distribution date: 29 December 2022. Record date: 30 December 2022. Date payable: 24 February 2023. Reported Earnings • Feb 08
First half 2023 earnings released: EPS: AU$0.17 (vs AU$0.54 in 1H 2022) First half 2023 results: EPS: AU$0.17 (down from AU$0.54 in 1H 2022). Revenue: AU$78.6m (up 3.6% from 1H 2022). Net income: AU$111.3m (down 68% from 1H 2022). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 6.3% decline forecast for the REITs industry in Australia. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 22
Upcoming dividend of AU$0.09 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 24 February 2023. Trailing yield: 4.5%. Lower than top quartile of Australian dividend payers (7.1%). In line with average of industry peers (4.7%). Reported Earnings • Aug 03
Full year 2022 earnings released: EPS: AU$0.76 (vs AU$0.41 in FY 2021) Full year 2022 results: EPS: AU$0.76 (up from AU$0.41 in FY 2021). Revenue: AU$153.3m (flat on FY 2021). Net income: AU$486.6m (up 85% from FY 2021). Over the next year, revenue is forecast to grow 3.5% compared to a 23% decline forecast for the reits industry in Australia. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Feb 26
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 4.6%. The fair value is estimated to be AU$4.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 31% per annum over the last 3 years. Reported Earnings • Feb 11
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: AU$0.54 (up from AU$0.22 in 1H 2021). Revenue: AU$75.9m (flat on 1H 2021). Net income: AU$348.3m (up 142% from 1H 2021). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 1.9% compared to a 23% decline forecast for the industry in Australia. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jan 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.6%. The fair value is estimated to be AU$4.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 14% per annum over the last 3 years. Upcoming Dividend • Dec 23
Upcoming dividend of AU$0.09 per share Eligible shareholders must have bought the stock before 30 December 2021. Payment date: 25 February 2022. Trailing yield: 4.4%. Lower than top quartile of Australian dividend payers (5.6%). Higher than average of industry peers (3.6%). Reported Earnings • Aug 06
Full year 2021 earnings released: EPS AU$0.41 (vs AU$0.33 in FY 2020) Full year 2021 results: Revenue: AU$152.2m (down 2.3% from FY 2020). Net income: AU$263.2m (up 25% from FY 2020). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 27
New 90-day low: AU$3.80 The company is down 12% from its price of AU$4.32 on 27 November 2020. The Australian market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$4.04 per share. Is New 90 Day High Low • Feb 04
New 90-day low: AU$4.09 The company is down 2.0% from its price of AU$4.18 on 06 November 2020. The Australian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$3.70 per share. Reported Earnings • Feb 04
First half 2021 earnings released: EPS AU$0.22 (vs AU$0.21 in 1H 2020) First half 2021 results: Revenue: AU$76.1m (flat on 1H 2020). Net income: AU$144.0m (up 6.2% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Feb 03
Revenue beats expectations Revenue exceeded analyst estimates by 0.1%. Over the next year, revenue is forecast to stay flat compared to a 24% decline forecast for the REITs industry in Australia. Upcoming Dividend • Dec 23
Upcoming Dividend of AU$0.09 Per Share Will be paid on the 26th of February to those who are registered shareholders by the 30th of December. The trailing yield of 4.2% is below the top quartile of Australian dividend payers (5.1%), but it is higher than industry peers (3.7%). Is New 90 Day High Low • Dec 09
New 90-day high: AU$4.36 The company is up 10.0% from its price of AU$3.98 on 10 September 2020. The Australian market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Nov 06
New 90-day high: AU$4.19 The company is up 7.0% from its price of AU$3.90 on 07 August 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the REITs industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Oct 16
New 90-day high: AU$4.18 The company is up 7.0% from its price of AU$3.91 on 17 July 2020. The Australian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the REITs industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. 
