Highlights

  • Consensus rating of Buy from 7 analysts: 4 Buy or equivalent, 2 Hold, 1 Sell or equivalent.
  • Mean price target of A$2.67 against a share price of A$2.08 on 8 October 2026, an implied upside of 28.4%.
  • Analyst targets range from A$2.45 to A$2.91.
  • Distributable Earnings were $56.1 million, up 0.9%, or 8.59 cents per security, up 3.4%.

Waypoint REIT (ASX:WPR) carries a consensus analyst rating of Buy. Of the 7 analyst recommendations recorded, 4 are Buy or equivalent, 2 are Hold and 1 is Sell or equivalent. The mean price target is A$2.67, with targets ranging from A$2.45 to A$2.91, against a current share price of A$2.08 (8 October 2026). Waypoint REIT is an Australian REIT that owns a portfolio of 394 properties, with a focus on fuel and convenience retail assets.

Company name

Waypoint REIT

Ticker

(ASX:WPR)

Exchange

ASX (Australian Securities Exchange)

Current share price

A$2.08

Price date

8 October 2026

Number of analysts

7

Rating consensus

Buy

Consensus price target (mean)

A$2.67

Highest target

A$2.91

Lowest target

A$2.45

Implied upside/downside to mean target

Implied upside of 28.4%

Latest developments

Waypoint REIT (ASX:WPR) announced its 1H26 results on 27 August 2026. Distributable earnings were $56.1 million, up 0.9%, or 8.59 cents per security, up 3.4%. Statutory net profit was $65.8 million, compared with $137.1 million in 1H25, largely because of valuation movements on the Investment property portfolio. Net tangible Assets per security were $2.92 at 30 June 2026, up 0.7% since 31 December 2025.

The portfolio comprised 394 properties valued at $2,862.7 million. Of these, 74 properties were independently valued during the period, producing a net valuation gain of $10.7 million. The weighted average Capitalisation rate was 5.71%, up 10 basis points from 5.61% at 31 December 2025. The weighted average Lease expiry was 5.9 years and occupancy was 99.9%.

Gearing was 32.4%, at the lower end of the 30% to 40% target range. During the period the REIT refinanced $250.0 million of Debt through a new six-year Australian Medium Term Note and repaid and cancelled bank debt facilities, with a weighted average debt Maturity of 3.8 years. Debt was 90% hedged with a weighted average hedge maturity of 2.5 years, and the management expense ratio was 31 basis points. The distribution for the quarter ended 30 June 2026 is 4.25 cents per security.

Risks and what to watch

Statutory net profit fell to $65.8 million from $137.1 million because of valuation movements, and the weighted average capitalisation rate widened by 10 basis points. Earnings depend on lease terms, tenant performance and interest rates, and the portfolio is concentrated in one property category. The company's debt is 90% hedged, with some exposure to refinancing in later years.

Next milestones

Items to watch include the next quarterly distribution, capitalisation rate and valuation movements at the December 2026 valuations, lease expiry management, gearing relative to the 30% to 40% range, and the full-year result.