Fund Manager Summary
Waypoint REIT Ltd (ASX: WPR) is recognized by fund managers for its stable income generation, emphasizing the approximately 6% dividend yield it offers through its ownership of around 400 petrol stations across Australia. Recent commentary highlights the attractiveness of its assets, particularly in a market where similar private assets trade at tighter capitalization rates, indicating potential undervaluation. However, while the investment presents solid long-term growth prospects, fund managers caution that investors should not expect rapid wealth accumulation. The potential for acquisition by larger capital players adds an intriguing layer but remains speculative. Key considerations revolve around market pressures and operational stability, positioning Waypoint as a reliable, albeit conservative, investment choice within the property sector.
Source: Trading View
Commentary From The Managers
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Share Price
Summary
Date
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Thesis Tracker gives investors direct access to professional fund-manager commentary on ASX-listed companies, all in one structured database.
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By reporting on thousands of qualitative investment insights, Thesis Tracker helps investors make better decisions beyond just financial metrics.
-
Trusted by active, Retail and Professional ASX investors, Thesis Tracker saves research time by surfacing institutional-grade perspectives that are difficult to find elsewhere.
Updates are made available to members within 12 hours of being released. 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
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.
Milford Asset Management
31 July 2024
$2.53
Summary
- 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.
The completeness, accuracy or current status of the investments referenced are not guaranteed.
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 primarily due to its robust portfolio of approximately 400 petrol stations across Australia. The company is seen as a stable income generator, offering over 6% in dividends. Additionally, the properties have favorable growth prospects, as private market transactions reflect tighter cap rates, indicating strong demand. While not overly aggressive in terms of capital appreciation, Waypoint REIT’s risk/reward profile appeals to investors seeking consistent yields and moderate capital growth.
What happened to Waypoint REIT Ltd (ASX:WPR)?
There have been no recent updates from fund managers regarding Waypoint REIT Ltd although fund managers including Milford Asset Management and Airlie Funds Management have previously commented.
What is the short interest in Waypoint REIT Ltd (ASX:WPR)?
The short interest in Waypoint REIT Ltd (ASX:WPR) is 0.27% which makes it the 333rd most shorted stock on the ASX. Of the 652.9M shares that Waypoint REIT Ltd has on issue, 1.8M have been sold short.
What does Waypoint REIT Ltd (ASX:WPR) do?
Waypoint REIT Ltd is a real estate investment trust that focuses on acquiring, managing, and developing properties in the Australian retail sector. The company invests primarily in retail shopping centers and other commercial properties. It aims to generate steady income and long-term capital growth for its investors through its portfolio of real estate assets.