Full Year 2021 Waypoint REIT Ltd Earnings Call Transcript

Feb 27, 2022 / 11:00PM GMT
Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Waypoint REIT Full Year 1 (sic) [2021] Conference Call. (Operator Instructions)

I would now like to hand the conference over to Mr. Hadyn Stephens, CEO and Managing Director. Please go ahead, sir.

Hadyn James Stephens - Waypoint REIT Limited - CEO, MD and Director

Hopefully, you've got in front of you. I'd just like to quickly call out some of the key highlights for the year. It was another very good year for Waypoint REIT, with distributable EPS of $0.158 at the upper end of our guidance range, driven primarily by organic rental growth, lower interest expense and capital management initiatives. The result represents 4.25% growth on the prior year, and Waypoint has now delivered compound annual growth and distributable EPS of 4.5% over the last 5 years.

Waypoint enjoyed strong valuation gains over the year with 40 basis points of cap rate compression and fixed retail reviews resulting in a gross valuation uplift of $320.1 million or 11.6% across the portfolio. Cap rate

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