1. "Decline in portfolio value de to lower assessed market rents". Would be great if they told us how over-rented the portfolio is.... 2. Negative rent reversions on non-F&C portfolio was something like -10%. Rouse Hill which apparently is a very strong performing F&C only increased 0.8%. So what will the market rent reviews be on the weaker performing sites? 3. VEA has reduced the expected size of the OTR rollout to less sites and flagged they would close sites which are not performers. 4. Over the next 9 years, 98% of WPR's portfolio expires. How many sites will not be renewed and what is the likely negative rent reversion?
Management should have spoken to these points in more depth because it's spooked the market in my view.
WPR Price at posting:
$2.34 Sentiment: Hold Disclosure: Held
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