Jefferies analyst Sholto Maconochie maintained a Buy rating on GPT Group (GPTGF – Research Report) yesterday and set a price target of A$4.34. The company’s shares closed last Tuesday at $3.07.
Maconochie covers the Real Estate sector, focusing on stocks such as Mirvac Group, Vicinity Centres, and Charter Hall Group. According to TipRanks, Maconochie has an average return of 10.7% and a 72.73% success rate on recommended stocks.
Currently, the analyst consensus on GPT Group is a Strong Buy with an average price target of $3.39.
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GPTGF market cap is currently $6.11B and has a P/E ratio of -148.37.
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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.
