GPT Group (GPT) AI Stock Analysis

• Market Cap: $9.31B
• Dividend Yield: 4.41%
• Average Volume (3M): 4.65M
• Price to Earnings (P/E): 10.6
• Beta (1Y): 0.77
• Revenue Growth: 12.66%
• EPS Growth: N/A
• Country: AU
• Employees: 500
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Diversified
• EPS (TTM): 0.17
• Shares Outstanding: 1,915,577,400
• 10 Day Avg. Volume: 5,202,444
• 30 Day Avg. Volume: 4,649,925
• PEG Ratio: -0.02
• Price to Book (P/B): 0.98
• Price to Sales (P/S): 10.08
• P/FCF Ratio: 17.27
• Enterprise Value/Market Cap: 1.58
• Enterprise Value/Revenue: 19.47
• Enterprise Value/Gross Profit: 28.27
• Enterprise Value/Ebitda: 15.49
• 1Y Price Target: $5.87
• Price Target Upside: 20.82% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): 0.36
• Revenue Forecast (FY): $978.49M

• Rating: 69 Neutral
• Price Target: AU$5.50 ▲(13.17% Upside)
• Action: Reiterated Date: 02/26/26
• Date: Action: Reiterated 02/26/26

Score reflects solid underlying financial performance (strong cash generation and 2025 rebound) and supportive valuation (low P/E and healthy yield), reinforced by constructive FY2026 guidance and operational momentum from the earnings call. These positives are partially offset by weak technicals (below key moving averages with negative MACD) and ongoing cyclicality/cost/CapEx pressures highlighted by management.

Positive Factors

Cash Generation

Consistently positive operating cash flow and a meaningful free cash flow improvement in 2025 signal durable internal funding for distributions, development funding and debt servicing. This reduces reliance on capital markets and supports resilience through property cycles over the next 2–6 months.

Platform & AUM Scale

A diversified AUM base (~A$40bn) and sizable sector platforms provide recurring fee income, capital recycling options and scale advantages in sourcing deals and partnerships. This structural scale supports stable management fee growth and co‑investment opportunities over the medium term.

High Occupancy & Leasing

Very high occupancy and positive leasing spreads across office, retail and logistics underpin predictable rental cashflows and downside protection versus peers. Strong leasing momentum and long WALEs support income stability and lower vacancy risk across the portfolio in the coming quarters.

Negative Factors

Elevated CapEx Needs

Sustained elevated maintenance and leasing CapEx (~A$170m) constrains free cash deployment for expansions or larger distributions and increases funding needs. Recurring capital intensity can pressure near-term cash available for shareholders and heightens sensitivity to cyclical cashflow swings.

Grosvenor Place Vacancy

A large strategic asset with ~30% vacancy requires substantial near-term stabilization CapEx (~A$30–35m). This concentrates execution risk and compresses portfolio returns until leasing and reactivation occur, potentially damping FFO/AFFO momentum while capital is deployed.

Rising Finance Costs & Debt Trend

Higher finance costs and a trend of increasing borrowings raise fixed obligations and reduce margin sensitivity to rental growth. Combined with occasional earnings volatility, elevated interest expense can amplify cycle risk and reduce flexibility for opportunistic investments.

GPT Group Business Overview & Revenue Model

Company Description

The GPT Group is one of Australia's largest diversified property groups and a top 50 ASX listed company by market capitalisation. GPT owns and manages a $25.3 billion portfolio of retail, office and logistics property assets across Australia. The Group has a substantial investor base with more than 32,000 shareholders.

How the Company Makes Money

GPT Group generates revenue primarily through leasing its properties to tenants in various sectors, including retail, office, and logistics. The company earns rental income from long-term leases, which provides a stable and recurring revenue stream. Additionally, GPT participates in property developments, which can lead to capital gains and increased asset value. The company also realizes income through management fees from its property management operations. Significant partnerships with retail brands and corporate tenants further bolster its earnings by ensuring a steady occupancy rate across its properties. Furthermore, GPT's focus on sustainable practices and innovative property management enhances its appeal and competitiveness in the market, contributing to its overall financial performance.

GPT Group Financial Statement Overview

Summary

Financials look healthy overall, led by consistently positive operating cash flow and improved free cash flow in 2025, plus a strong profitability rebound. The main offsets are volatile earnings/returns across years and gradually rising debt, which increases sensitivity to the property cycle.

Income Statement

Revenue has grown steadily from 2020 to 2025 (with a sharp acceleration in 2025), and profitability in 2025 is very strong versus the prior two years, which were loss-making. That said, earnings have been volatile across the period (losses in 2020/2023/2024 and outsized profit years in 2021/2025), suggesting results may be influenced by non-recurring or valuation-driven items rather than purely stable operating performance.

Balance Sheet

Leverage appears manageable for a diversified REIT, with debt-to-equity generally in the ~0.38–0.52 range and equity remaining sizable relative to total assets. However, total debt has trended higher into 2025, and returns on equity have been inconsistent (negative in 2023–2024), highlighting sensitivity to property cycle movements and earnings volatility.

Cash Flow

Cash generation is a clear strength: operating cash flow has been consistently positive each year, and free cash flow is solid and improved meaningfully in 2025. Free cash flow has closely tracked reported earnings in most years, but the cash flow coverage of earnings has varied, indicating that profitability swings are not always matched one-for-one by cash performance.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.03B	988.70M	900.10M	816.40M	795.30M
Gross Profit	738.10M	646.90M	560.50M	498.10M	562.20M
EBITDA	1.24B	29.00M	564.10M	514.00M	426.40M
Net Income	981.00M	-200.70M	-240.00M	469.30M	1.42B
Balance Sheet
Total Assets	16.93B	15.63B	16.28B	17.32B	17.18B
Cash, Cash Equivalents and Short-Term Investments	99.40M	72.20M	67.90M	60.20M	61.50M
Total Debt	5.56B	4.87B	4.83B	5.10B	5.19B
Total Liabilities	6.30B	5.52B	5.51B	5.84B	5.51B
Stockholders Equity	10.63B	10.11B	10.77B	11.48B	11.67B
Cash Flow
Free Cash Flow	601.10M	602.20M	582.60M	273.80M	307.90M
Operating Cash Flow	622.10M	604.00M	586.00M	564.40M	520.40M
Investing Cash Flow	-902.50M	68.20M	206.10M	-245.80M	-1.23B
Financing Cash Flow	307.60M	-667.90M	-784.40M	-319.90M	394.70M

GPT Group Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.86
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:GPT, the sentiment is Negative. The current price of 4.86 is below the 20-day moving average (MA) of 5.04, below the 50-day MA of 5.27, and below the 200-day MA of 5.16, indicating a bearish trend. The MACD of -0.09 indicates Negative momentum. The RSI at 34.18 is Neutral, neither overbought nor oversold. The STOCH value of 40.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:GPT.

GPT Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SGP	75 Outperform	AU$11.87B	11.82	7.99%	4.29%	4.75%	170.39%
CHC	70 Outperform	AU$9.93B	10.60	24.58%	1.97%	15.06%	47.66%
GPT	69 Neutral	$9.31B	10.58	3.56%	4.41%	12.66%	―
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
GMG	65 Neutral	AU$57.60B	19.16	7.99%	1.02%	16.87%	―
DXS	56 Neutral	$6.94B	5.34	1.32%	5.32%	4.52%	―
CLW	54 Neutral	AU$2.64B	4.72	3.57%	6.14%	-9.63%	―

GPT Group Corporate Events

GPT Group Discloses Change in Director Russell Proutt’s Security Holdings

GPT Group has notified the Australian Securities Exchange of a change in the security holdings of director Russell Proutt, in line with its continuous disclosure obligations. The announcement records an update to his interests in stapled securities and associated rights as at 19 February 2026, reinforcing the group’s compliance with governance and transparency requirements for director dealings.

The filing details Proutt’s direct interest in GPT stapled securities and performance-related rights, including long-term incentive and deferred short-term incentive awards. While the notice itself does not signal any strategic shift, such disclosures are closely watched by investors as indicators of executive alignment with shareholder interests and adherence to regulatory standards.

The most recent analyst rating on (AU:GPT) stock is a Buy with a A$5.80 price target. To see the full list of analyst forecasts on GPT Group stock, see the AU:GPT Stock Forecast page.

GPT Group Cancels 53,485 Performance Rights in Capital Management Move

GPT Group has notified the ASX of the cessation of 53,485 performance rights (security code GPTAJ) effective 31 December 2025, as disclosed in an Appendix 3H filing. The change reflects an adjustment to the group’s issued capital structure related to its performance rights program, which may slightly reduce potential future equity dilution for existing securityholders but does not signal any broader strategic shift based on the information provided.

The most recent analyst rating on (AU:GPT) stock is a Buy with a A$6.00 price target. To see the full list of analyst forecasts on GPT Group stock, see the AU:GPT Stock Forecast page.

GPT Group to Issue 534,676 Unquoted Performance Rights Under Incentive Plan

GPT Group has notified the market of the planned issue of 534,676 unquoted performance rights under its employee incentive scheme, scheduled to be granted on 31 December 2025. These equity-based awards, which will not be quoted on the ASX, form part of GPT’s remuneration framework aimed at aligning executives’ and employees’ interests with long-term securityholder value, reinforcing the group’s use of incentive structures to attract and retain talent in a competitive real estate and funds management sector.

The most recent analyst rating on (AU:GPT) stock is a Buy with a A$6.00 price target. To see the full list of analyst forecasts on GPT Group stock, see the AU:GPT Stock Forecast page.

GPT Group Completes Grosvenor Place Deal and Launches New Value-Add Partnership

GPT Group has settled the acquisition of a 50% interest in Sydney’s landmark office tower Grosvenor Place for $860 million plus transaction costs, in partnership with Commonwealth Superannuation Corporation, strengthening its exposure to prime CBD office assets and deepening its relationships with major institutional investors. In a parallel move, GPT has agreed to acquire a high-quality student accommodation property at 43-45 Australia Street, Camperdown, NSW for $47 million as the seed asset for a new, sector-agnostic value-add partnership with an offshore capital partner, signalling the launch of a new investment strategy targeting opportunistic, higher-return real estate plays, subject to Foreign Investment Review Board approval.

The most recent analyst rating on (AU:GPT) stock is a Buy with a A$6.00 price target. To see the full list of analyst forecasts on GPT Group stock, see the AU:GPT Stock Forecast page.

GPT Group Announces Estimated Distribution and 2026 Investor Calendar

GPT Group has announced an estimated distribution of 12.0 cents per ordinary stapled security for the six months ending 31 December 2025. Key dates for the investor calendar in 2026 include the release of annual results, the closing date for director nominations, and the annual general meeting. This announcement underscores GPT’s commitment to maintaining transparency and providing value to its stakeholders through regular distributions and clear communication of its financial calendar.

The most recent analyst rating on (AU:GPT) stock is a Buy with a A$6.00 price target. To see the full list of analyst forecasts on GPT Group stock, see the AU:GPT Stock Forecast page.

GPT Group Announces New Dividend Distribution

GPT Group has announced a new dividend distribution of AUD 0.12 per fully paid ordinary/unit stapled security, covering a six-month period ending on December 31, 2025. The ex-date for this distribution is set for December 30, 2025, with the record date on December 31, 2025, and payment scheduled for February 27, 2026. This announcement reflects GPT Group’s ongoing commitment to providing returns to its investors and may influence its market positioning by demonstrating financial stability and shareholder value.

The most recent analyst rating on (AU:GPT) stock is a Buy with a A$6.00 price target. To see the full list of analyst forecasts on GPT Group stock, see the AU:GPT Stock Forecast page.