GPT Group (46T) AI Stock Analysis

GPT Group

(Frankfurt:46T)

Rating:―N/A

Action:N/A

Date:―

No summary available

Positive Factors

Underlying FFO and AUM growthUnderlying FFO growth, including an 8.3% increase excluding trading profits, indicates improving recurring earnings quality. AUM expansion also supports the funds-management platform, creating a broader base for recurring fees and reinforcing GPT’s ability to attract capital over coming periods.

Negative Factors

Office vacancy and leasing investmentThe Grosvenor Place vacancy creates a meaningful drag on group office occupancy and requires substantial capital before the asset reaches a stronger income contribution. Management expects a 12–36 month let-up, leaving near-term earnings and cash returns exposed to leasing execution.

GPT Group (46T) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 6.34B
Dividend Yield: 4.41%
Average Volume (3M): ―
Price to Earnings (P/E): 8.9
Beta (1Y): 0.24
Revenue Growth: -9.52%
EPS Growth: 175.02%
Country: Germany
Employees: 500
Sector: General
Sector Strength: 55
Industry: REIT - Diversified

GPT Group Business Overview & Revenue Model

Company Description

The GPT Group is a premier diversified real estate entity in Australia, distinguished as a top 50 company on the ASX by market capitalization. Its operations encompass the ownership and active management of a substantial $25.3 billion property portfo...

GPT Group Earnings Call Summary

Earnings Call Date:Aug 15, 2026(Q2-2026)|Next Earnings Date:Feb 14, 2027

Earnings Call SentimentPositive

The call communicated broad operational momentum across Retail, Logistics and Funds Management with positive FFO growth, AUM expansion and active transaction and fundraising activity. Office showed strong leasing and income growth but occupancy recovery is uneven due to the Grosvenor acquisition and required CapEx and leasing time. Headline net property income was impacted by strategic divestments and some rental gains are being offset in valuations by below‑the‑line CapEx and incentives. Balance sheet metrics and liquidity remain sound and management affirmed full‑year guidance, supporting a constructive outlook.

Positive Updates

Funds from Operations Growth

FFO of $338.8 million, up 5.0% on H1 2025 (and up 8.3% when excluding trading profits), demonstrating underlying earnings growth.

Negative Updates

Headline Net Property Income Impacted by Portfolio Sales

Headline net property income was 1.1% lower for the half; planned divestments into co‑investment partnerships reduced headline net property income by 10.8% as assets were recycled to pursue higher‑return opportunities.

Company Guidance

GPT affirmed full‑year guidance of FFO of $0.354 per security (4% growth on 2025 reported, 5.7% excl. trading profits) and distribution guidance of $0.245 per security; H1 FFO was $338.8m (up 5% YoY; 8.3% excl. trading profits), AFFO $263.4m (up 2.3%), statutory NPAT $400.1m and H1 distribution $0.1225 per security (96% of free cash flow, within 95–105% target). Full‑year maintenance and leasing CapEx is guided at ~ $170m. Balance sheet and capital metrics: AUM $41.6bn (+$1.8bn, +4.6%), investment portfolio $16.3bn (+$45m, +0.3%), NTA $5.61 (from $5.53), net gearing 31.5% (target 25–35%), $1bn liquidity, no unfunded commitments, ratings A2/A‑; net finance costs $113.4m, weighted average cost of debt 5% (down 34bps), hedging 74% of drawn debt in 2026 (3.2%), 60% in 2027 (3.6%) and 41% in 2028 (4.2%). Operational guidance underpinned by like‑for‑like NPI growth (asset level 5.8%; Retail 4.6%, Office 8%, Logistics 4%), occupancies (Retail 99.8%, Office 92.1%, Logistics 99%), leasing spreads (Retail 6.6%, Office 4.7%, Logistics face spreads ~38%), Logistics WALT 4.9 years, and co‑investment and management earnings momentum (co‑investment income +42.4%, management operations +2.5%).

GPT Group Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

DE:46T against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AU:SGP	76Outperform	AUD 10.44B	10.49	9.44%	5.86%	14.63%	18.93%
AU:GMG	69Neutral	AUD 55.48B	19.85	11.41%	1.11%	17.33%	59.19%
AU:DXS	64Neutral	AUD 6.13B	13.04	4.83%	6.45%	-28.16%	250.74%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
AU:CHC	54Neutral	AUD 9.75B	27.49	20.47%	2.46%	-19.06%	6.95%
AU:GOZ	50Neutral	AUD 1.48B	16.51	3.90%	9.36%	-0.03%	―

* General Sector Average

Performance Comparison

DE:46T and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:46T	GPT Group	3.03	0.23	8.38%
AU:CHC	Charter Hall Group	20.62	-0.97	-4.49%
AU:DXS	Dexus	5.74	-1.01	-14.98%
AU:GMG	Goodman Group	27.00	-5.02	-15.69%
AU:SGP	Stockland	4.30	-1.57	-26.68%
AU:GOZ	Growthpoint Properties Australia	1.97	-0.39	-16.67%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

GPT Group AI Stock Analysis