Real estate investment trust and yield play BWP Trust (ASX: BWP) today announced it posted income of $71.2 million and a distributable profit of $49.1 million for the six-month period ending December 31, 2014.
Income and distributable profit were up 19.1% and 14.6% respectively on the prior corresponding period (pcp).
The all important interim distribution was 7.67 cents per unit held in the business, up 12.3% on the pcp.
The company said it had been a successful six months with the development of three Bunnings Warehouses stores at Manly West, West Ipswich and Brendale in Queensland.
It also saw like-for-like rental growth of 2.7% for the 12 months to December 31, 2014, although that was down on the 3.8% delivered in the prior year.
The stock yields around an unfranked 4.93% when selling for today's closing price of $3.04 and is one of a number of property trusts with defensive earnings streams to appeal to conservative yield seekers.
Others worth consideration are the Westfield business Scentre Group Ltd (ASX: SCG), east-coast focused Mirvac Group (ASX: MGR) and Stockland Corporation Ltd (ASX: SGP). All three of these businesses are touching 52-week highs in the low cash rate environment and it wouldn't be a big surprise if they keep climbing higher given the tailwinds.
The Motley Fool knows three more hand-picked businesses with big yields and potential for attractive capital gains.
