GPT Group

GPT: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$7.70	Xltf	Rmbprqlcx

GPT Group Earnings: Retail and Industrial Solid While Office Still Weak; Securities Undervalued

Jon Mills

Aug 19, 2024

In line with our expectations, GPT Group reported funds from operations of AUD 0.16 per security and distributions of AUD 0.12 for the first half of 2024. Management reaffirmed full-year guidance, and we continue to forecast 2024 FFO per security of about AUD 0.32 and distributions of AUD 0.24, which is in line with guidance. This equates to a forward distribution yield of approximately 5%, which is attractive compared with the 10-year commonwealth bond yield of 3.9%.

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