Citi sees GPT property valuations benefiting from income growth

GPT

17/08/2026 20:14

** Citi says Australia's GPT Group's GPT.AX HY26 results are strong with funds from operations rising 5% to A$338.8 mln ($240.58 mln)
** Brokerage maintained its "Buy" rating and target price of A$6.00 per share, citing strong retail performance and improving office fundamentals, which could improve property valuations
** Citi expects income growth to flow more visibly into asset valuations from FY27 as leasing incentives ease
** Citi views GPT's FY26 guidance affirmation as credible and said its interest-rate hedging profile provides near-term earnings protection, though higher finance costs as hedges roll off in FY27-FY28 remain a key risk
** Six of eleven analysts rate the stock "buy" or higher and  five rate "hold" ; their median PT is A$5.46 – LSEG data
** Stock was down 7.8% YTD, as of last close 


($1 = 1.4083 Australian dollars)

 (Reporting by Shravya Marakini in Bengaluru)
 ((shravya.marakini@thomsonreuters.com;))