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GPT Group
GPT.AU
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GPT Group Announces Liquidity Proposal and Board Appointments

GPT Group announced that investors approved a liquidity proposal at their Annual General Meeting, deferring a 10-year liquidity event to July 2028 and allowing up to 25% upfront liquidity. The base management fee structure has been temporarily modified. Additionally, Christopher Judd and Simone Desmarchelier were appointed as independent directors to the Board of GPT Funds Management Limited. The current analyst rating for GPT stock is a Hold with a price target of A$5.55.

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Australia's GPT Group hits over one-week high on forecast upgrade

** Shares of GPT Group rise 3.2% to A$5.51, their highest level since October 29** After market hours on Thursday, retail assets operator updated FY2025 forecast for funds from operations (FFO) to 34 Australian cents per share, up from previous estimate of no less than 33.2 Australian cents apiece** Shares up for a third straight session** Stock up 26.1% YTD, including current session moves

Reuters·
Reuters·

Citi Reaffirms Their Buy Rating on GPT Group (GPTGF)

Citi analyst Howard Penny has reaffirmed a Buy rating on GPT Group (GPTGF) with a price target of A$6.00. Penny, who specializes in the Real Estate sector, has an average return of 7.7% and a 69.29% success rate on his stock recommendations. Additionally, Morgan Stanley's Simon Chan also issued a Buy rating for GPT Group on October 27, while TR | OpenAI maintained a Hold rating on October 31.

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Deals of the day-Mergers and acquisitions

On October 24, several significant mergers and acquisitions were reported. The Swiss National Bank divested its stake in Rio Tinto, continuing a trend in the extractive sector. Kirin is selling its Four Roses bourbon brand for $1 billion. GPT Group is acquiring a 50% stake in Grosvenor Place for A$860 million, partnering with Commonwealth Superannuation Corp. Additionally, Nicolet Bankshares is acquiring MidWestOne Financial Group for $864 million in stock, marking a notable bank deal this year.

Reuters·
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Reuters·
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Australia's GPT Group forks out $558 million for a slice of Sydney's Grosvenor place

Australia's GPT Group is acquiring a 50% stake in Sydney's Grosvenor Place office tower for A$860 million ($558 million), partnering with the Commonwealth Superannuation Corp. The property, valued at A$1.72 billion, is a 44-storey building housing major tenants. This acquisition will expand GPT's A$15 billion office portfolio and is expected to close by the end of 2025, funded through existing debt. The deal is not anticipated to impact annual earnings, and GPT's stock rose 1.1% following the announcement.

Reuters·
Reuters·