Aug 29, 2024 / 12:00AM GMT
Hadyn Stephens - Waypoint REIT Ltd - Chief Executive Officer, Managing Director, Director
Good morning, everyone. Thank you for joining us on the call today. I'll start on page 7 of the presentation where you'll see that Waypoint delivered distributable EPS of $0.0828 for the six months to June 30. This result was in line with the first six months of last year with higher net interest expense being offset by rental growth and lower operating costs.
We note that the result is above our guidance range for the full year on an annualized basis. However, we do expect second-half results to be lower, primarily due to higher interest exceeds.
The value of Waypoint's investment portfolio increased by 1.4% during the period, with contracted rental escalations for the majority of the portfolio, offsetting a six basis point increase in weighted average cap rate to 5.74%. The 1.4% increase in the value of Waypoint's investment portfolio underpinned a $0.06 or 2.1% increase in NTA per security to $2.79 and also resulted in a slight decrease in gearing from 32.8% in December to 32.6%, which remains at
Half Year 2024 Waypoint REIT Ltd Earnings Call Transcript
Aug 29, 2024
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