In a report released yesterday, Sholto Maconochie from Jefferies maintained a Hold rating on GPT Group (GPTGF – Research Report), with a price target of A$4.60. The company’s shares closed last Friday at $2.71.
Maconochie covers the Real Estate sector, focusing on stocks such as Dexus, Goodman Group, and Stockland. According to TipRanks, Maconochie has an average return of 7.5% and a 64.71% success rate on recommended stocks.
In addition to Jefferies, GPT Group also received a Hold from Morgan Stanley’s Simon Chan in a report issued on February 19. However, on February 20, UBS maintained a Buy rating on GPT Group (Other OTC: GPTGF).
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The company has a one-year high of $3.36 and a one-year low of $2.13. Currently, GPT Group has an average volume of 1,810.
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GPT Group (GPTGF) Company Description:
GPT Group was listed in 1971 and is Australia’s oldest listed property trust. The business strategy is not particularly differentiated from peers, other than through its particularly conservative gearing and modest emphasis on development activity. The portfolio weighting to industrial is a major growth area for the firm, but is still minor at 12% of total revenue. GPT remains dominated by retail malls that generate about a third of its revenue, and another quarter from office.
