GDI Property Group Expands Co-Living Portfolio with Moranbah Acquisition

GDI Property Group ( (AU:GDI) ) has shared an announcement.

GDI Property Group’s co-living joint venture has completed the acquisition of three properties in Moranbah, Queensland, for $18.3 million. This acquisition, which includes a mining accommodation village and two motels, is expected to exceed the joint venture’s target return and offers opportunities for increased profitability through strategic initiatives. The acquisition enhances the joint venture’s diversification and expands its operations to over 850 rooms across multiple locations in Australia.

The most recent analyst rating on (AU:GDI) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on GDI Property Group stock, see the AU:GDI Stock Forecast page.

More about GDI Property Group

GDI Property Group is involved in the property industry, focusing on property investment and management. The company holds a 50% interest in a co-living joint venture, which aims to provide accommodation solutions, particularly in the mining sector.

Average Trading Volume: 621,985

Technical Sentiment Signal: Buy

Current Market Cap: A$361.7M

See more data about GDI stock on TipRanks’ Stock Analysis page.