GPT – FY19 Earnings

GPT has increased earnings by 2.6% growth, which is in line with the recently lowered guidance.

The FY20 outlook is for similar underlying growth of around 2%.

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Office and logistics are clearly the stand-out performers, whilst retail exposure remains a potential drag.

With GPT trading on a 4.5% yield and low levels of growth over the next 1 to 3 years, we consider the stock full value.

 

 

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