Waypoint REIT (ASX: WPR) announces F22 results and on-market buyback

Waypoint REIT (ASX: WPR) has announced its HY22 results today.

The details from the company’s results include:

• Distributable earnings of AU$61.4 million, a 0.2% increase over HY21 (AU$61.3 million).
• Statutory net profit of AU$213.8 million, compared to AU$251.9 million in HY21 (-15.1%).
• Net tangible assets per security as of 30 June 2022 was AU$3.18, a 7.8% increase over 31 December 2021 (AU$2.95). 
• Pro forma gearing and liquidity, inclusive of proceeds from asset sales contracted before the balance date, are 26.1% and AU$199.6 million, respectively.
• Pro forma weighted average debt maturity of 4.9 years, inclusive of AU$275 million refinancing post balance date (30 June 2022: 4.5 years). 
• The management expense ratio of 29bp is one of the lowest in the ASX 200 REIT Index.

Meanwhile, today the company has announced its intention to commence an on-market buy-back of up to 40 million stapled securities, representing approximately 5.6% of total securities on issue. 

The share price of Waypoint REIT was spotted trading 1.351% lower at AU$2.555 per share on ASX at 11:06 AM AEST. 

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