How are GPT’s (ASX:GPT) shares faring post logistics assets sale?

November 25, 2022 12:08 PM AEDT | By Tamnna

How are GPT’s (ASX:GPT) shares faring post logistics assets sale? — Image source: © Philldanze | Megapixl.com

What’s happening with GPT’s shares after assets sale?

Shares of Australian property group were heading south following the announcement of the logistics assets sale. One share of GPT was valued at AU$4.335 with a loss of 0.344% as of 10:51 AM AEDT, 25 November.

While GPT’s shares were declining, the benchmark S&P/ASX 200 Real Estate sector gained 3.4 points, totalling 3,104.4 points around the same time.

Following today’s negative performance, The GPT Group’s share value has increased by 0.35% in the last five trading sessions while leaping 7.57% in a month. However, shares of GPT have dropped 21.61% on a year-to-date (YTD) basis and 19.57% over the course of a year.

What else has been happening at GPT Group?

Earlier this month, The GPT Group published its Q3 FY22 operational update on the ASX. Let’s look at the key takeaways below:

In the retail portfolio, the total number of completed lease deals was 95 for the quarter ended 30 September 2022.
On specialty leasing deals, fixed base rents saw an average annual increase of 4.5%, along with an average lease term of 4.6 years.
GPT managed to take the retail portfolio occupancy to 99.4% in the third quarter of 2022 from 99.3% in June 2022.
Total quarterly sales for the centre across retail surged 8.9%, and total specialty sales saw an increase of 11.2% when compared to Q3 2019.
In the office portfolio, the total leasing during the quarter was 27,700m², bringing total leasing from 51,900m² in June 2022 to 79,600m²for the calendar year to 31 October 2022.
Occupancy in office decreased from 92% in June 2022 to 91.6% in September 2022.
The total leasing volume for the logistics portfolio reached 45,300m² during the third quarter of FY22, increasing the total leasing volume for the calendar year to 31 October 2022 to 273,300m² from 228,000m² in June 2022.
Occupancy in logistics decreased from 98.7% in June 2022 to 98.4% in September 2022.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.