GPT Group (GPT)



Welcome to InvestSMART

You are currently viewing our site as a guest, which gives you limited access to our site features. By signing up for a free membership, you will receive our Investment Opportunity newsletters and have access to additional features for finding and comparing managed funds and shares. Registration is fast and simple, so please:

Sign Up Today Ľ it's FREE! Already a member? Login now!


General Information
Company Name: GPT Group
Stock Code: GPT
Website: www.gpt.com.au
GICS Sub-Industry: Diversified Real Estate Activities
Market Cap ($M): 8,088
Equiv. Shares (M): 1,778

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 4.550 $ 4.540 $ 4.600 $ 4.530 $ 4.600 3,461,240 $ -0.050  -1.087 %

Current Broker Consensus Recommendation more
Recommendation: Hold (3)
Recommendation Date: 26th Mar 2015
Brokers Surveyed: 3

Company Overview

Business Description:
GPT Group (GPT) is a property investment company. GPT is an active owner and manager of an $8.8 billion diversified portfolio of Australian retail, office and logistics and business parks property assets. GPT also managed two funds, the GPT Wholesale Office Fund (GWOF) and the GPT Wholesale Shopping Centre Fund (GWSCF).

Strategy Analysis:
The current strategy is focused on the active ownership of Australian retail, office and industrial property while reducing stakes in wholesale funds and retail, continuing to exit non-core businesses and grow Australian funds management fees. GPT Group reported General Property Trust's NPAT of $594.5m for the year ended 31 December 2012. Revenues from ordinary activities were $993.4m, up 17% from last year. Diluted EPS was 30.8 cents compared to 15.4 cents last year. Net operating cash flow was $420.4m compared to $413.2m last year. The final distribution declared was 5.1 cents, taking the full year distribution to 19.3 cents compared with 17.8 cents last year.


Financial Summary
Year to Dec NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016  F 513.2 28.9 2.7 15.9 22.0 4.8 0.0
2015  F 497.0 28.1 5.0 16.4 21.5 4.7 0.0
2014  A 452.1 26.8 4.2 14.6 21.2 5.4 0.0
Source: Morningstar analyst estimates.

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
GPT Group (GPT) $8,177 M -0.2501 0.1552 0.0283 19.0397 16.4815 16.0279 4.61 4.78 4.98
Lend Lease Group (LLC) $9,560 M 0.4790 -0.2934 0.1050 10.9239 15.4604 13.9908 4.31 3.25 4.25
Scentre (SCG) $20,499 M -0.6809 2.6814 0.0524 62.9085 17.0883 16.2379 5.30 5.43 5.66
Stockland (SGP) $10,746 M 0.0688 0.0845 0.0632 19.0297 17.5472 16.5034 5.27 5.27 5.33
Westfield Corporation (WFD) $20,594 M -0.4057 0.9386 0.1349 40.5483 20.9160 18.4304 4.94 3.26 3.44

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth
GPT 1.37 18.1 1.11 2.02
Market 0.89 16.5 1.30 2.40
Sector 1.45 15.5 1.21 2.53

Directors
Name Position Start Date
Mr Michael Andrew Cameron Chief Executive Officer,Managing Director 01 May 2009
Mr Robert (Rob) Alexander Ferguson Non-Executive Chairman 25 May 2009
Mr Brendan Patrick Crotty Non-Executive Director 22 December 2009
Mr Gene Thomas Tilbrook Non-Executive Director 11 May 2010
Mr Lim Swe Guan Non-Executive Director 23 March 2015
Dr Eileen Joy Doyle Non-Executive Director 01 March 2010
Mr Swe Guan Lim Non-Executive Director 23 March 2015
Mr Eric John Goodwin Non-Executive Director 24 November 2004
Ms Anne McDonald Non-Executive Director 02 August 2006

Management
Name Position
Mark Fookes Chief Financial Officer
Carmel Hourigan Chief Investment Officer
James A Coyne Company Secretary,Legal Counsel
Michael O'Brien Group Executive - Corporate Development
Matthew Faddy Head of Asset Management
John Thomas Head of Development - Commercial & Industrial
Anthony McNulty Head of Development - Retail & Major Projects
Nicholas Harris Head of Funds Management

Substantial Shareholders
Holding Name
205,742,325 (12.14%) Government of Singapore Investment Corporation
155,686,358 (9.19%) Uni Super

Calendar of Events
Date Event
28 March 2016 Report (Annual)
22 February 2016 Report (Interim)
22 February 2016 Report (Prelim)
11 August 2015 Report (Interim)
05 May 2015 AGM
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

Advertisement

Trade Shares Online from $19.95^
Free Guides

The SMH Guide to Investing in Fixed Income

An educational booklet with information on how to earn more than bank interest on the cash in your investment portfolio.

More details...

News

Markets melt up

By Michael McCarthy (chief market strategist, CMC Markets) 19/12/2014 | Traders and investors caught short heading into the FOMC scrambled for cover in Europe and the US, in many cases driving indices to their best one day performance for 2015.

Aussie Investors take their foot off the accelerator

By Betty Lam (Sales Trader, CMC Markets) 18/12/2014 | Lead by the Fed-fervour offshore, Australians shares jumped on the Yellen cheer wagon. The material and energy stocks were back in vogue as both sectors gained over 3% in morning trade.

Fed Feeds Frenzy

By Michael McCarthy (chief market strategist, CMC Markets) 18/12/2014 | In spite of a frenzied pre-mortem, a benign statement from the US Federal Reserve‚Äôs Open Market Committee and steadying commodity markets drove investors back into share markets overnight. A calmer, stronger ruble helped offset European growth fears, highlighted in the overnight session by further declines in inflation.

Household brands Woolworths and Telstra Heavy Lifting

By Betty Lam (Sales Trader, CMC Markets) 11/12/2014 | Offshore jitters sent ripples through to Australian stocks. The open saw the local equities take 65 points off the index, catalysed by a mass-exit in energy stocks, yet again.

Steady open as Woodside investors wait on details of possible Wheatstone acquisition

By Ric Spooner (Chief Market Analyst, CMC Markets) 10/12/2014 | Yesterday‚Äôs news on Greek politics and China‚Äôs bond market came at a time when US and European stock markets have extended rallies and pushed valuations higher. This makes those markets vulnerable to downward corrections as profit takers act to avoid missing out.

MYEFO and Lima - December could be nasty.

BR Securities Australia Pty Ltd 2/12/2014 | December 2014 could go down as a nasty moment in Australian finance. MYEFO will reveal a deteriorating budget deficit and the UNFCCC meeting in Lima, Peru will provide the agreement, to be ratified in Paris in 2015, on how much (or little) CO2 is to be allowed into the atmosphere from 2020.

More...


Sponsored Links