Fund Manager Summary
The fund managers believe that the outlook for Waypoint REIT Ltd presents a strong opportunity for investors. In their opinion, WPR's recent rally of 16.6% reflects its status as a preferred defensive exposure. They highlight the company's under-geared balance sheet and ongoing asset divestment programme as key strengths. Additionally, the active buyback strategy reinforces their confidence in the stock. While the 6% dividend yield remains attractive, they note it is becoming less appealing following the recent price increase. Overall, the fund managers view Waypoint REIT as a solid investment choice in the current market.
Source: Trading View
Commentary From The Managers
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Airlie Funds Management
4 Aug 2025
$2.49
Summary
- Airlie Funds Management continues to hold Waypoint REIT due to its ownership of approximately 400 petrol stations across Australia.
- The investment thesis highlights the quality of Waypoint REIT as a business.
- Waypoint REIT offers a dividend yield of over 6%.
- Private market transactions for similar assets, such as petrol stations, are occurring at tighter cap rates than Waypoint REIT's current valuation.
- Waypoint REIT is considered a bite-sized company that could attract interest from larger capital players.
- The expectation is for modest capital growth alongside the dividend yield.
- While not a rapid wealth generator, the combination of income and growth is viewed as satisfactory.
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Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
Commentary From The Managers
Airlie Funds Management
4 Aug 2025
$2.49
- Airlie Funds Management continues to hold Waypoint REIT due to its ownership of approximately 400 petrol stations across Australia.
- The investment thesis highlights the quality of Waypoint REIT as a business.
- Waypoint REIT offers a dividend yield of over 6%.
- Private market transactions for similar assets, such as petrol stations, are occurring at tighter cap rates than Waypoint REIT's current valuation.
- Waypoint REIT is considered a bite-sized company that could attract interest from larger capital players.
- The expectation is for modest capital growth alongside the dividend yield.
- While not a rapid wealth generator, the combination of income and growth is viewed as satisfactory.
Summary
Milford Asset Management
31 July 2024
$2.53
- Milford Asset Management continues to hold Waypoint REIT (WPR) as it is one of their preferred defensive exposures.
- WPR has rallied 16.6%.
- The company has an under-geared balance sheet, which enhances its stability.
- An asset divestment programme is currently underway, indicating effective portfolio management.
- WPR is engaging in an active buyback, which supports shareholder value.
- The current 6% dividend yield remains attractive, although it is somewhat diminished following the recent rally.
Summary
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
ANALYST INSIGHT
Equity Research Analyst
"With a recent 16.6% surge, Waypoint REIT appears to be a compelling defensive play, yet the allure of its 6% dividend yield may be waning as the rally unfolds. Investors should tread carefully as momentum shifts in this volatile landscape."
Last Updated: 04 Aug 2025
Query The Data
Frequently Asked Questions
Who is investing in Waypoint REIT Ltd (ASX:WPR)?
Fund managers including Milford Asset Management and Airlie Funds Management have invested in Waypoint REIT Ltd (ASX:WPR).
Why do fund managers invest in Waypoint REIT Ltd?
Fund managers invest in Waypoint REIT Ltd due to its defensive positioning, under-geared balance sheet, ongoing asset divestment program, and active share buyback strategy. The company offers a competitive 6% dividend yield, making it an appealing investment even after recent share price gains.
What happened to Waypoint REIT Ltd (ASX:WPR)?
Fund managers are investing in Waypoint REIT Ltd due to its stable income generation from owning approximately 400 petrol stations across Australia, offering over a 6% dividend yield. The attractiveness of these assets is highlighted by tighter cap rates in the private market, suggesting strong valuation potential. While not positioned for rapid wealth accumulation, Waypoint REIT is seen as a solid long-term investment with steady capital growth.