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Australian diversified property REIT owning office towers, shopping centres and logistics/industrial assets.
Australian diversified property REIT owning office towers, shopping centres and logistics/industrial assets.
Earns rent from long leases at offices, shopping centres and logistics warehouses, plus management fees from funds it runs for outside investors alongside its own holdings. Office towers in Sydney and Melbourne and major retail centres form the base, while logistics is the newer and faster-growing leg.
In one line: A diversified Australian REIT, akin to a smaller Brookfield Property.
Moat: narrow (scale, installed base). Portfolio of prime CBD office and retail assets built up over decades.
Headquarters: Sydney, Australia · Founded: 1971
Size GPT (GPT.AX) is an Australia Real Estate company (Real Estate Investment Trusts) with a market value of $6.88B, the 52nd largest of 316 Australia companies the cockpit tracks. Shares closed at A$5.18 on 6 Nov 2026.
Performance Over six months the shares gained 10.7%, against +1.2% for the median peer and +4.1% for the Australia market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue fell 7.6% over the last twelve months (peer median +7.2%); the operating margin is 68.8% (peer median 40.7%).
Valuation It trades at 0.92× book value against a peer median of 1.42× (4th cheapest of 21).
Price implies The share price implies a return on equity of about 11.0%; GPT delivers 10.0%, so the price asks more than the business earns today.
Next results Next results expected around 15 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | A$984M | A$1.03B | A$992M | A$914M | A$816M |
| Revenue growth | — | +4% | +9% | +12% | — |
| Gross profit | A$712M | A$743M | A$678M | A$669M | A$588M |
| EBITDA | A$682M | A$662M | A$572M | A$564M | A$514M |
| Net income | A$1.05B | A$981M | -A$201M | -A$240M | A$469M |
| Free cash flow | A$383M | A$378M | A$435M | A$411M | A$277M |
| Capital expenditure | A$300M | A$262M | A$170M | A$184M | A$291M |
| Total debt | n/a | A$5.53B | A$4.87B | A$4.83B | A$5.10B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| GPT GPT.AX | $6.88B | +11% | -8% | 10% | 0.92× | 11.0% |
| Dexus DXS.AX | $4.44B | 0% | -28% | 5% | 0.65× | 8.0% |
| Mirvac MGR.AX | $5.27B | +14% | +6% | 7% | 0.83× | 9.9% |
| Scentre SCG.AX | $13.1B | -1% | -4% | 10% | 0.97× | 11.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | GPT.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.1% | +6.4% | 3rd highest of 21 |
| 6-month return | +10.7% | +1.2% | 7th highest of 21 |
| Return on equity | 10.0% | 6.5% | 5th highest of 21 |
| Price / book | 0.92× | 1.42× | 4th cheapest of 21 |
| Trailing P/E | 9.4× | 19.8× | 2nd cheapest of 15 |
| ROE the price implies | 11.0% | 12.2% | 5th least demanding of 21 |
| ROE delivered | 10.0% | 6.5% | 5th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| GPT GPT.AX | Australia | $6.88B | +11% | -8% | 10% | 0.92× | 11.0% | 10.0% |
| Nippon Building Fund 8951.T | Japan | $6.75B | -8% | -21% | 6% | 1.41× | 5.3% | 5.9% |
| Macerich MAC | United States | $7.04B | +14% | +9% | -14% | 2.50× | 33.9% | -14.5% |
| Vornado Realty Trust VNO | United States | $6.70B | +11% | +2% | 0% | 1.44× | 17.3% | 0.2% |
| STAG Industrial STAG | United States | $7.06B | -6% | +9% | 8% | 1.93× | 15.5% | 7.6% |
| First Industrial Realty Trust FR | United States | $7.13B | -14% | +9% | 13% | 2.57× | 20.9% | 13.2% |
| Terreno Realty TRNO | United States | $7.24B | 0% | +18% | 9% | 1.61× | 14.0% | 9.2% |
| Charter Hall CHC.AX | Australia | $7.26B | +14% | -19% | 37% | 18.01× | 213.5% | 36.9% |
| Healthcare Realty Trust HR | United States | $6.50B | -5% | -6% | -2% | 1.56× | 11.9% | -2.0% |
| Rayonier RYN | United States | $6.45B | +6% | -13% | 2% | 1.23× | 10.9% | 2.0% |
| COPT Defense Properties CDP | United States | $7.43B | +4% | +7% | 11% | 2.42× | 17.3% | 11.2% |
| Land Securities LAND.L | United Kingdom | $7.51B | +20% | +7% | 5% | 0.77× | 11.9% | 5.3% |
| Essential Properties Realty Trust EPRT | United States | $6.21B | -11% | +21% | 6% | 1.36× | 11.1% | 6.3% |
| LondonMetric Property LMP.L | United Kingdom | $6.16B | +2% | +17% | 7% | 0.93× | 12.6% | 6.7% |
| Stockland SGP.AX | Australia | $7.74B | +15% | +15% | 10% | 1.04× | 11.7% | 9.5% |
| Alexandria Real Estate Equities ARE | United States | $7.80B | -2% | -10% | -9% | 0.52× | 7.0% | -9.1% |
| NNN REIT NNN | United States | $7.89B | -7% | +7% | 9% | 1.75× | 12.9% | 8.9% |
| Choice Properties Real Estate Investment Trust CHP-UN.TO | Canada | $7.95B | -1% | +4% | -2% | 2.66× | 14.7% | -1.7% |
| British Land BLND.L | United Kingdom | $5.94B | +17% | +15% | 8% | 0.73× | 11.6% | 7.8% |
| Vicinity Centres VCX.AX | Australia | $8.01B | 0% | +3% | 12% | 0.94× | 9.7% | 12.0% |
| Rexford Industrial Realty REXR | United States | $8.02B | +4% | -2% | -6% | 1.16× | 11.7% | -5.9% |