Morgans assesses Waypoint REIT is on-track to divest $150m of assets in FY22, part of management’s target to divest around 10% of the portfolio over the next 3-5 years to ultimately aide diversification.
The broker had already incorporated asset sales into forecasts but now assumes higher interest costs over the medium/longer term. The target price falls to $2.92 from $3.07. Add.
The analyst had also previously included $100m in capital management initiatives for which more details are expected report at the 1H result on August 29.
Sector: Real Estate.
Target price is $2.92.Current Price is $2.45. Difference: $0.47 – (brackets indicate current price is over target). If WPR meets the Morgans target it will return approximately 16% (excluding dividends, fees and charges – negative figures indicate an expected loss).
