UBS analyst Grant McCasker maintained a Buy rating on GPT Group (GPTGF – Research Report) today and set a price target of A$4.97. The company’s shares closed last Friday at $2.97.
According to TipRanks, McCasker is a 4-star analyst with an average return of 8.5% and a 73.33% success rate. McCasker covers the Real Estate sector, focusing on stocks such as Vicinity Centres, Charter Hall Group, and Goodman Group.
In addition to UBS, GPT Group also received a Buy from J.P. Morgan’s Richard Jones in a report issued yesterday. However, on the same day, Morgan Stanley maintained a Hold rating on GPT Group (Other OTC: GPTGF).
See today’s best-performing stocks on TipRanks >>
GPTGF market cap is currently $5.7B and has a P/E ratio of -138.14.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
