GPT Group
GPT: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$8.20 | Mhljd | Msfcqvyd |
Plodding Progress From GPT’s Office Division, but Set for a Comeback; AUD 5.25 FVE Unchanged
GPT’s decent first-quarter operating update adds confidence that our thesis is playing out. GPT screens as one of the more undervalued REITs in our Australian coverage, with the AUD 4.64 security price a circa 10% discount to our unchanged AUD 5.25 fair value estimate, compared with the broader property sector mostly looking fairly valued.