Vacancy Woes May Be Behind BWP Trust -- Market Talk

Dow Jones09-16

0128 GMT - The worst appears to be behind BWP Trust, says Morgan Stanley, which lifts the stock to equal-weight, from underweight. Analyst Simon Chan says BWP has been affected by the Wesfarmers-owned Bunnings home-improvement chain vacating 14 sites between FY 2018 and FY 2023. Now, alternative sites for Bunnings may not be so readily available. Occupancy rates of circa 99% should be sustainable, after trending at circa 97% in the last few years, MS Says. "As such, we believe following several years of supporting distribution out of capital profits, BWP should fully fund its distribution via operating earnings from FY 2026," the bank says. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

September 15, 2024 21:28 ET (01:28 GMT)

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Occupancy rates of circa 99% should be sustainable, after trending at circa 97% in the last few years, MS Says. \"As such, we believe following several years of supporting distribution out of capital profits, BWP should fully fund its distribution via operating earnings from FY 2026,\" the bank says. 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Analyst Simon Chan says BWP has been affected by the Wesfarmers-owned...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1989772923.USD","symbol_name":"CPR Invest - Climate Action A2 Acc USD-H","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2467852828","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2467852828","pubTimestamp":1726450080,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0128 GMT - The worst appears to be behind BWP Trust, says Morgan Stanley, which lifts the stock to equal-weight, from underweight. Analyst Simon Chan says BWP has been affected by the Wesfarmers-owned Bunnings home-improvement chain vacating 14 sites between FY 2018 and FY 2023. Now, alternative sites for Bunnings may not be so readily available. Occupancy rates of circa 99% should be sustainable, after trending at circa 97% in the last few years, MS Says. \"As such, we believe following several years of supporting distribution out of capital profits, BWP should fully fund its distribution via operating earnings from FY 2026,\" the bank says. 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