In a report released on January 1, Sholto Maconochie from Jefferies maintained a Buy rating on GPT Group (GPTGF – Research Report), with 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 6.8% and a 68.42% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for GPT Group with a $3.33 average price target.
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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 3,505.
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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.
