Jefferies analyst Sholto Maconochie downgraded GPT Group (GPTGF – Research Report) to a Hold yesterday and set a price target of A$4.50. The company’s shares closed last Tuesday at $2.92.
According to TipRanks, Maconochie is a 3-star analyst with an average return of 10.1% and a 72.73% success rate. Maconochie covers the Real Estate sector, focusing on stocks such as Stockland, Vicinity Centres, and Charter Hall Group.
GPT Group has an analyst consensus of Moderate Buy, with a price target consensus of $3.16, which is an 8.22% upside from current levels. In a report released on February 4, Morgan Stanley also maintained a Hold rating on the stock with a A$4.60 price target.
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GPTGF market cap is currently $5.53B and has a P/E ratio of -140.00.
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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.
