Growthpoint Properties Australia rises; Morningstar initiates coverage

Growthpoint Properties Australia

16/09/2025 03:45

Updates with moves

** Shares of Growthpoint Properties Australia GOZ.AX rise 0.8% to A$2.630, their highest level since late-November 2024

** Morningstar initiates coverage on the real estate manager with a "no-moat" rating and a fair value estimate of A$2.80

** The investment research firm expects co's balance sheet to improve as its management continues to recycle capital

** Morningstar says asset valuations are expected to stabilize for GOZ and eventually rise, as interest rates are moderating

** "The market is primarily concerned about further office devaluations and Growthpoint's relatively high gearing" - Morningstar

** Four of five analysts rate the stock "buy" or higher, one rate "hold"; their median price target is A$2.59, as per data compiled by LSEG

** Stock is up 10.5% YTD, including the day's move

 (Reporting by Anjali Singh and Roshan Thomas in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))