Waypoint released results for FY23, with distributable earnings of $110.7 million and statutory net loss of $79.1 million.
The loss has been impacted by the valuation movements across the investment property portfolio. The Company announced that the 402 properties were valued at $2.8 billion on 31 December 2023. The portfolio has a weighted average lease expiry of 8.1 years and 99.9% occupancy.
Waypoint REIT expects to deliver Distributable Earnings per security of 16.32 cents to 16.48 cents in 2024, with the bottom end of this guidance range assuming the sale of non-core assets with a book value of approximately $80 million in 2024, and the top end of the range assuming no asset sales are completed.
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