The Waypoint REIT Ltd (ASX: WPR) share price is on the move today after posting distributable EPS of 8.59 cents, up 3.4% on the prior period, and announcing a quarterly distribution per security of 8.50 cents, a 3.2% increase.
Image source: Getty Images
What did Waypoint REIT report?
- Distributable earnings per security (DEPS): 8.59 cents, up 3.4% vs 1H25
- Distribution per security: 8.50 cents, up 3.2% vs 1H25
- Statutory net profit: $65.8 million ($71.3 million lower than 1H25, due to lower property revaluations)
- Portfolio valuation uplift: $10.7 million, with book value at $2.86 billion
- NTA per security: $2.92, up 0.7% since December 2025
- Gearing: 32.4%, at the lower end of target range
What else do investors need to know?
Waypoint REIT reported that all FY26 lease expiries have now been resolved, with 26 of 28 leases renewed or extended, achieving a strong 97% retention rate and an average rental reversion of 10.3%. The business completed a major refinancing during the half, issuing a new $250 million, 6-year medium term note and repaying the same amount of bank debt, further strengthening its debt profile.
The company also highlighted asset sales, including the settlement of the Nowra property for $6.1 million, and continued progress on its OTR conversion program, with 19 conversions completed—all funded by Viva Energy Australia, their major tenant. Management reaffirmed prioritisation of prudent capital management, strong hedging, and maintaining high occupancy (currently 99.9%).
What's next for Waypoint REIT?
Looking ahead, Waypoint REIT has reaffirmed full-year guidance for distributable earnings per security at 17.14 cents, a 3% increase over FY25. The company expects quarterly distributions to increase to 4.32 cents per security in the second half of FY26, reflecting a 100% payout ratio.
Management will continue to focus on optimising debt facilities, progressing non-core asset sales (targeting $10–20 million in 2H26), and engaging on upcoming lease expiries in 2027. The outlook remains cautious on transaction activity, with interest rates still the key driver of market sentiment.
Waypoint REIT share price snapshot
Waypoint REIT shares have underperformed the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a decline of 5.5%.
