Tiger Brokers

BUZZ-Street View: Brokerages mostly bullish on Australia's GPT Group on swing to FY profit

Reuters
Feb 17
BUZZ-Street View: Brokerages mostly bullish on Australia's <a href="https://laohu8.com/S/GPTGF">GPT Group</a> on swing to FY profit

** Australian diversified property firm GPT Group GPT.AX swung to FY profit on Monday, posting A$981 mln ($693.76 mln) on a statutory basis

** Co matched its earlier forecast to distribute 12 Australian cents per share for the six months ended December 31

** Co sees FY 2026 distribution of 24.5 Australian cents per security

RETAIL THERAPY PAYS OFF, OFFICES CLOCK A SPLIT VERDICT

** Citi, Morningstar and Jefferies see solid growth in GPT's retail segment going forward, underpinned by high population and limited supply in the sector

** Jefferies and Citi are upbeat on GPT's office segment, citing strong inquiry from larger tenants and a continued rebound, while Morningstar expects a slower recovery after the sector's prior overheating

** Jefferies lowers price target to A$6.16/shr as dividend misses VA estimates

($1 = 1.4140 Australian dollars)

(Reporting by Shivangi Lahiri in Bengaluru; Editing by Lisa Shumaker)

((shivangi.lahiri@thomsonreuters.com))

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