J.P. Morgan analyst Richard Jones downgraded GPT Group (GPTGF – Research Report) to a Hold today and set a price target of A$4.80. The company’s shares closed last Tuesday at $2.90.
According to TipRanks, Jones is a 3-star analyst with an average return of 1.8% and a 55.56% success rate. Jones covers the Real Estate sector, focusing on stocks such as Stockland, Lendlease Group, and Vicinity Centres.
Currently, the analyst consensus on GPT Group is a Moderate Buy with an average price target of $3.40.
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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 3,363.
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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.
