GPT Group ASX Latest News and Timeline

GPT Group ASX has a rich history that dates back to 1999, when it was founded by a group of entrepreneurs who saw an opportunity to create a leading provider of technology and software solutions.

The company has since grown significantly, expanding its operations to multiple countries and acquiring several other businesses along the way.

GPT Group ASX has a diverse portfolio of properties, including office buildings, industrial facilities, and retail centers, with a total value of over $1 billion.

The company's strategy is focused on creating long-term value for its shareholders through a combination of organic growth and strategic acquisitions.

GPT Group's revenue has grown significantly over the years, reaching $1.4 billion in 2020, a 21% increase from 2019.

The company's diversified portfolio includes investments in logistics, property development, and services, which has contributed to its steady financial performance.

GPT Group's net profit margin has consistently been above 20%, indicating a strong ability to manage costs and maintain profitability.

GPT's retail portfolio saw a significant net revaluation uplift of $97.3 million or 1.8% in the six months to 30 June 2022, with a weighted average capitalisation rate (WACR) of 4.98%.

The company's retail occupancy was high at 99.3%, up from December 2021 when occupancy was recorded at 99.1%. This indicates a strong demand for retail space.

GPT's office portfolio saw a net revaluation uplift of $6.8 million or 0.1% in the six months to 30 June 2022; WACR remained stable at 4.77%.

Occupancy for GPT's office portfolio was 92.0% at 30 June 2022, with a weighted average lease expiry (WALE) of 4.7 years. This is a relatively stable occupancy rate.

The company's logistics portfolio saw net revaluations of $115.4 million, a 2.6% uplift. This was largely driven by leasing outcomes achieved and higher market rents.

Here are the key performance indicators for GPT's retail, office, and logistics portfolios:

GPT's logistics portfolio had significant leasing activity, with 149,700sqm of signed leases and 78,200sqm of Heads of Agreement in place.

GPT's shareholder returns haven't been impressive over the past year, with a 2.3% return compared to the Australian REITs industry's 9.1% return.

The company's 7-day return was a -0.7% loss, which is a stark contrast to the Australian Market's 1.2% gain.

Here's a comparison of GPT's returns with the Australian REITs industry and the Australian Market over the past 7 days and 1 year:

GPT has underperformed the Australian Market, which returned 9.6% over the past year, and the Australian REITs industry, which returned 9.1% over the same period.

The GPT Group has been quite active in recent times. The company announced a partnership with Rouse Hill Town Centre on January 22, 2024.

Here are some key dates to keep in mind:

The company has also made several announcements regarding its directors' interests.

Ayers Rock Resort Sale was completed, with settlement occurring today. The sale was confirmed by The GPT Group (GPT) to the Indigenous Land Corporation (ILC).

The sale involved a significant payment of $81 million on settlement, with additional payments of $81 million 12 months after settlement and $138 million five years after settlement. GPT has been provided with security guaranteeing the deferred payments and will receive interest on the deferred payments at a rate of 6.5% per annum.

GPT will also share in 46% of the increase in capital value of Ayers Rock Resort over $300 million plus capital expenditure committed over the period, with a minimum guaranteed payment to GPT of $17 million at the end of the five year period.

Here's a breakdown of the payments and benefits:

The timeline for GPT's announcements and updates is quite extensive.

GPT announced its partnership with Rouse Hill Town Centre on 22 January.

Some notable dates include:

GPT also announced a new retail partnership with Perron on 13 December.

In August, GPT announced its 2024 Interim Result, which included an update on its dividend distribution.

GPT Management Holdings Interim Financial Report 2024 was released on 19 August.