Hey guys, Scott Pape interviewed the BWP managing director a...

Hey guys, Scott Pape interviewed the BWP managing director a week back and discussed the direction of the business etc etc, very closed book interview actually nothing really substancial came out of it.

The key take-away that I got though was that the BWP share price is 60% above the valuation of its properties (they get 3rd party property valuations yearly or bi yearly), and the current yield is high 4's on this SP. The general concenus was that the company has an overvalued SP, and at current levels you may be better looking elsewhere. I personally and holding for the yield - but maybe it is better to untick the DRP option - I won't because again personally I am too lazy and its easier to just reinvest.

Thought I would let you all know - when Pape first recommended the trust it was trading at $1.90 with a 7% yield. There was zero mention of BWP concidering any Masters stores - but surely they would be seriously considering picking up a couple of warehouses in prime position...