WPR – Morgans rates the stock as Add

After a medium-term notes issuance, the REIThas upgraded 2021 distributable EPS guidance to 15.72-15.80cps from 15.72cps. The $200m of fixed-rate 7-year Notes were priced at a coupon of 2.4% and will be used to partially repay an existing debt facility.

The analyst notes the portfolio of petrol stations is well placed with 99.4% of fuel income contractually secured until May 2026. It’s assumed capital management initiatives will occur in the fourth quarter 2021. The Add rating and $3 target price are unchanged.

Sector: Real Estate.

 

Target price is $3.00.Current Price is $2.74. Difference: $0.26 – (brackets indicate current price is over target). If WPR meets the Morgans target it will return approximately 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).

 

 

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →