Citi analyst Howard Penny maintained a Buy rating on $GPT Group (GPT.AU)$ today and set a price target of A$4.90. The company's shares closed last Friday at $3.11.
According to TipRanks, Penny is a 3-star analyst with an average return of 1.6% and a 55.56% success rate. Penny covers the Real Estate sector, focusing on stocks such as Dexus, Goodman Group, and GPT Group.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for GPT Group with a $3.20 average price target.
The company has a one-year high of $3.36 and a one-year low of $2.13. Currently, GPT Group has an average volume of 2,344.
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GPT Group 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.
