In a report released on July 20, Lou Pirenc from Jarden maintained a Sell rating on GPT Group (GPTGF – Research Report), with a price target of A$4.40. The company’s shares closed last Thursday at $2.82.
Pirenc covers the Real Estate sector, focusing on stocks such as Dexus, Vicinity Centres, and Charter Hall Group. According to TipRanks, Pirenc has an average return of -2.0% and a 36.59% success rate on recommended stocks.
GPT Group has an analyst consensus of Hold, with a price target consensus of $3.30.
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GPTGF market cap is currently $5.46B and has a P/E ratio of 16.84.
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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.
