At yesterday's AGM for GPT Group, management provided a 1Q trading update, affirming 2024 funds from operations (FFO) and DPS guidance. Morgan Stanley assesses all seems to be progressing as expected.
Retail occupancy costs are now at 16.2%, compared to 16.1% in 2023, which the broker attributes to sales growth being mildly behind contracted 4-5% rent increases.
The Equal-weight rating and
Sector: Real Estate.
Target price is
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