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BWF - Blackwall Limited

System

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BlackWall Property Funds Limited (BWF) is a vertically integrated property funds manager that manages, develops and finances income producing real estate on behalf of retail, high net worth and institutional property investors in Australia and New Zealand.

http://www.blackwallfunds.com.au
 
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Re: BWF - BlackWall Property Funds

Been following this company recently and BWF looks seriously underpriced - bought some today @ 0.26, with my reasons as follows:

- FY14 guidance of 3.5-4m is a 52-70% increase on FY13.

- Based on that range, EPS should fall between 7-8 cps meaning the stock is on a forward PE of between 3.25-3.7, cheap as chips in anyone's books I am sure.

- Hard to tell the dividend payout ratio, but assuming equal to FY13 (31%) DPS should be around 2.1-2.5 cents per share, which is a dividend yield today of 8.1% to 9.6%, plus franking credits on top of that.

- Directors with skin in the game have been buying (only a few thousand $$ worth) within the past week at current prices.

The only negative is that it is thinly traded, partly due to some management ownership but IMO since it has been overlooked thus far there's been a lack of strong bids. I suspect this will change over the next 12 months as word starts to get out.

I am reminded of my surprise at how EAL was so overlooked late last year when I entered. Time will tell.

DYOR as always
Bobbie
 

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On June 29th, 2016, Blackwall Property Funds Limited changed its name to Blackwall Limited.
 

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