What did GPT Group report?

• Funds from operations (FFO) of $650.5 million, or 34.0 cents per security
• Adjusted FFO of $494.4 million; full-year distribution of 24.0 cents per security
• Statutory net profit after tax of $981.0 million, including a $308.5 million portfolio valuation uplift
• Net tangible assets per security of $5.53
• Portfolio occupancy of 97.6% and $39.8 billion in assets under management
• Net gearing at 31.1% with $1.2 billion in available liquidity

What else do investors need to know?

GPT's retail, office, and logistics portfolios delivered positive results across the board. Retail portfolio occupancy reached 99.8%, specialty sales rose 5.3%, and the $200 million Rouse Hill Town Centre redevelopment remains on schedule for completion in late 2026.

The office and logistics sectors also saw growth, with like-for-like net property income lifting 8.3% and 5.1% respectively. Key partnerships included acquiring a 50% share in Grosvenor Place, Sydney, and launching the $1 billion GPT QuadReal Logistics Trust 2, underpinning ongoing expansion.

During the year, GPT completed gross transactions totalling $4.9 billion and maintained healthy financial flexibility by securing $8 billion in new and refinanced debt facilities.

What did GPT Group management say?

GPT's Chief Executive Officer, Russell Proutt, said:

2025 has been a year of strong execution and strategic progress for GPT. As I reflect on the past twelve months, I am proud of how we have advanced our position as a leading diversified property investment manager. We have delivered very strong financial results and continued the operational excellence our stakeholders have come to expect.

We believe our competitive advantage lies in our ability to excel at both investment and operations, as it is the combination that enables us to effectively originate, price and optimise investments. This depth of expertise across sectors positions GPT well for success going forward.

What's next for GPT Group?

Looking ahead, GPT expects to deliver funds from operations of about 35.4 cents per security in FY 2026—an anticipated 4% increase. Management is also forecasting a distribution of 24.5 cents per security for the coming year.

With development projects like Rouse Hill Town Centre and logistics facilities underway, and the introduction of new local and global capital partners, the Group is positioned to capitalise on opportunities across its key markets.

GPT Group share price snapshot

Over the past 12 months, GPT Group shares have risen 4%, trading is in line with the S&P/ASX 200 Index (ASX: XJO).

View Original Announcement

The post GPT Group delivers strong 2025 profit and distribution uplift appeared first on The Motley Fool Australia.

What did Argo Investments Limited report?

• Half-year profit: $130.8 million, up from $121.2 million last year
• Earnings per share: 17.2 cents, up from 15.9 cents
• Interim dividend: 18.5 cents per share (fully franked), up 8.8%
• Management expense ratio: 0.14%, improved from 0.15%
• Grossed-up annual yield: 6.1% based on the last closing share price

What else do investors need to know?

Argo's investment revenue from its portfolio was flat over the half, but profit was lifted by trading and options income. The company has boosted its fully franked dividend by 37.5% over the past five years, maintaining 100% franking even throughout volatile market conditions.

During the period, Argo made some notable investment changes, adding CSL Ltd (ASX: CSL), Amcor (ASX: AMC), Worley Ltd (ASX: WOR), Rio Tinto Ltd (ASX: RIO), BHP Group Ltd (ASX:BHP) , Generation Development Group Ltd (ASX: GDG), and Clarity Pharmaceuticals Ltd (ASX: CU6), while selling all shares in Healius Ltd (ASX: HLS) and GPT Group (ASX: GPT). The total number of portfolio stocks decreased slightly from 85 to 83.

What did Argo Investments management say?

Managing Director Jason Beddow said:

We considered it appropriate to meaningfully increase the interim dividend. The Board is committed to sustainably growing Argo's fully franked dividends.

What's next for Argo Investments?

Looking ahead, Argo noted the outlook remains highly uncertain given ongoing geopolitical risks and shifting monetary policy, including higher Australian interest rates. The team highlighted Australia's structural advantages, particularly in resources and critical minerals.

Argo plans to keep its diversified approach, spanning more than 80 ASX-listed companies. The company says it aims to provide shareholders with reliable income and long-term capital growth, even through volatile markets.

Argo Investments share price snapshot

Over the past 12 months, Argo Investments shares have risen 1%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 3% over the same period.

View Original Announcement

The post Argo Investments reports record profit and dividend appeared first on The Motley Fool Australia.

A real estate investment trust (REIT) is a company that owns and operates property assets that typically produce income.

REITs can have various property types in their portfolios, or they might specialise in just one type. Some focus on commercial real estate, such as offices, hospitals, shopping centres, warehouses, and hotels.

Investors may choose to target this asset because they typically provide predictable income through regular distributions, supported by rental cash flows and a tax-efficient structure. 

REITs also offer potential capital growth and diversification benefits, making them attractive as a long-term investment option.

Recent underperformance 

Despite the favourable aspects of REITs, over the last few years, this asset class has largely underperformed relative to other sectors. 

Many REITs struggled through and post pandemic due to market shifts. 

For example, some REITs own and operate office buildings. 

COVID-driven shifts in work patterns combined with poorly timed new supply drove vacancies higher, and rents lower across Australia's major CBDs, with asset values following suit.

Similar headwinds impacted REITs engaged in retail spaces like shopping centres. 

However new insight from VanEck suggests the tide could be turning after years of underperformance. 

Supply demand dynamics improving

According to VanEck, office REITs were among the best-performing A-REIT subsectors in 2025. 

In a new report, the ETF provider said this momentum could continue in 2026 for several reasons. 

VanEck said supply pipelines are thinning, economic conditions are favourable and elevated 10-year yields may begin to provide a more supportive backdrop for sector performance.

We think the medium-term outlook for office REITs in particular is positive, albeit one that still demands selectivity.

Pranay Lal, Portfolio Manager, VanEck said vacancy rates have stabilised and are expected to trend lower, with the supply/demand office space dynamics potentially improving. 

High replacement costs, restrictive financing conditions and limited development pipelines are likely to constrain further supply, with leading leasing agent Jones Lang LaSalle Incorporated (JLL) forecasting new supply to be almost half the 20 year calendar average.

Economic conditions favourable

According to VanEck, valuations across office REITs are closely linked to broader macroeconomic conditions. 

Periods of strong economic activity, low unemployment and robust population growth have historically been supportive of structurally lower vacancy rates.

Australia has seen a marginal acceleration in GDP growth, supported by improving business investment and consumer spending. 

Additionally, unemployment is near a historical low and forecast to stay in the 4% range over the medium term.

This backdrop further supports a recovery in CBD office demand.

Office and retail REITs are currently offering compelling value, we think. Both sectors are trading at discounts to net tangible assets, suggesting scope for a re-rating toward more normalised valuation levels. This potential mean reversion could act as a catalyst for relative outperformance.

How to gain exposure

For investors looking to gain exposure to this sector, there are a few options to consider. 

For pure-play office REITs, Centuria Office REIT (ASX: COF) owns a portfolio of high-quality office buildings across Australian capital cities and key markets. 

Other office REIT options include: 

• Dexus (ASX: DXS)
• Charter Hall Group (ASX: CHC)
• The GPT Group (ASX: GPT).

Another option is to target a thematic ASX ETF such as VanEck Vectors Australian Property ETF (ASX: MVA). 

MVA ETF gives investors exposure to a diversified portfolio of Australian REITs, however this isn't exclusively office owners. 

The post Why 2026 could be the year of the REIT rebound appeared first on The Motley Fool Australia.

What did GPT Group report?

• Declared distribution of 12 cents per security for the six months to 31 December 2025
• Distribution will be paid on 27 February 2026
• Record date set as 31 December 2025; ex-date is 30 December 2025
• The distribution is 100% unfranked
• Tax component details to be included in the Annual Tax Statement for 2025

What else do investors need to know?

GPT Group's latest announcement provides key dates for its upcoming distribution, helping investors plan for the payment and associated tax reporting. The payment, while unfranked, gives consistent income to security holders during the period.

Further tax detail will be made available on GPT's website and in investor Annual Tax Statements in 2026, ensuring transparency on the tax effective nature of the income received.

What's next for GPT Group?

GPT Group will finalise the distribution amount and confirm all tax components before the payment date. Investors can expect the annual tax statement in 2026 to outline all relevant breakdowns for their tax affairs.

As the group continues its property operations, market watchers will be interested to see how consistent distributions contribute to investor confidence over the next reporting period.

GPT Group share price snapshot

Over the past 12 months, GPT Group shares have risen 23% over the past 12 months, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 3% over the same period.

View Original Announcement

The post GPT Group declares 12 cent distribution for HY25 appeared first on The Motley Fool Australia.

Which is why we were quick to snap up the report on the outlook for Aussie real estate investment trusts, just out from Macquarie Group Ltd (ASX: MQG).

In analysing Australia's listed property sector, Macquarie reviewed the fourth quarter (4Q 2025) commercial property data from JLL.

And the broker named its four key picks among the ASX REITs, all of which are tipped to outperform.

What's happening in Australia's commercial property markets

On the retail front, Macquarie maintained a neutral rating on ASX REITs with strong retail exposure.

The broker noted that retail rents were broadly stable, while Black Fortnight data was mixed.

"We view the retail sector as fully valued, with most groups trading close to or at a premium to NTA," Macquarie said.

Industrial rents were on the rise, however, although the supply pipeline was said to remain elevated.

According to the broker:

Market fundamentals for industrial improved in 4Q25, with modest face rental growth combined with flat to declining incentives… The 2025 supply pipeline is elevated at c. +27% above the longrun average with 2026/27 supply expected to be higher.

On the office front, Macquarie said the data points continue to recover.

"Net absorption was positive across all major cities, accelerating at a national level and running at 1.8x the quarterly and annual average," Macquarie said. "We advocate for a rotation into office based on an anticipated gradual recovery in income fundamentals and stocks trading at discounts to book."

ASX REITs forecast to leap 14% to 73%

The first real estate investment trust that Macquarie expects to outperform is Mirvac Group (ASX: MGR).

The broker noted that the ASX REIT has "office exposure in our preferred precincts, where we think the fundamental outlook is more favourable. The data is supportive of this thematic with the three major cities seeing negative net absorption in secondary."

Mirvac shares are up 8.8% in 2025, currently trading for $2.05 apiece. Mirvac also trades on a 4.4% unfranked dividend yield.

Macquarie has a 12-month price target of $2.70 for Mirvac, which represents a potential upside of almost 32% from current levels.

The second ASX REIT you may want to buy today is Goodman Group (ASX: GMG).

Goodman shares are down 18.4% in 2025, trading for $29.39 each. The ASX stock also trades on 1.0% unfranked dividend yield.

And Macquarie expects a much better year ahead, with a 12-month price target of $34.73 on Goodman shares, more than 18% above current levels.

The third Aussie real estate investment trust forecast for outsized gains is DigiCo Infrastructure REIT (ASX: DGT).

Currently trading for $2.40 each, DigiCo shares are down 45.7% year to date and trade on 7.0% unfranked dividend yield.

Macquarie forecasts a big turnaround for DigiCo with a $4.16 a share 12-month price target. That's more than 73% above current levels. And it doesn't include that juicy dividend yield.

Which brings us to the fourth ASX REIT Macquarie tips to outperform, GPT Group (ASX: GPT).

GPT shares have surged 23.5% year to date and are currently trading for $5.46 each. GPT stock trades on a 4.4% unfranked dividend yield.

And Macquarie expects shares to gain another 14% in 2026, with a 12-month price target of $6.23 a share.

The post Macquarie names its top 4 ASX REITs to buy today appeared first on The Motley Fool Australia.

Shares in the property investment company closed yesterday trading for $5.53. During the Thursday lunch hour, shares are swapping hands for $5.55 apiece, up 0.4%.

This sees the ASX 200 stock up 25.6% in 2025, racing ahead of the 4.1% year to date gains posted by the benchmark index.

As for that passive income, GPT Group shares trade on an unfranked 4.3% trailing dividend yield.

And looking to the year ahead, the analysts at Macquarie Group Ltd (ASX: MQG) expect another year of outperformance from GPT.

Here's why.

ASX 200 dividend stock could boost retail footprint

In a new research report published on Wednesday, Macquarie sounded a bullish note on the potential for GPT Group, and the GPT Wholesale Shopping Centre Fund (GWSCF), to secure greater management control at the Sunshine Plaza in Queensland and the Macarthur Square in New South Wales.

The ASX 200 dividend stock already is a part owner of both centres.

Noting the new partnership opportunity with Australian Prime Property Fund Retail (APPF Retail) liquidity event. Macquarie said:

GPT and GWSCF may exercise pre-emptive rights (ideally under a family of funds clause to avoid double stamp-duty) to gain wider management rights to co-owned assets Sunshine Plaza and Macarthur Square. We estimate based on an investment management fee of 25-40bps, the transaction could be 0.2-0.4% accretive to FY26 FFO (Note: GPT already earns property management fees at these assets).

The broker noted that GWSCF is undertaking an equity raise "potentially providing capacity to participate".

Macquarie expects this partnership would benefit GPT Group. The broker stated:

The economics for GPT are likely to be better with GWSCF than most other potential partners, however GWSCF has no capacity without the targeted $500m equity raise.

We estimate GPT has ~$360m of debt capacity to the upper end of its gearing range (post capital commitments) implying a raise would be required for GPT to acquire either or both assets. However, this would not align with the preferred partnership strategy.

Connecting the dots, Macquarie retained its outperform rating on the ASX 200 dividend stock with a $6.23 12-month target price. That implies a potential upside of more than 12% from current levels. And it doesn't include those two upcoming dividends.

Macquarie concluded:

Execution of strategy offers upside potential to valuation in the medium to long term. From here, we believe evidence of growth in third-party FUM will be key.

The post Why Macquarie expects this fast-rising ASX 200 dividend stock to keep outperforming in 2026 appeared first on The Motley Fool Australia.

In fact, the team at Macquarie Group Ltd (ASX: MQG) believes that there is still potential for some major returns over the next 12 months.

What is the broker saying about this ASX 200 stock?

Macquarie was pleased with the property company's recent update and notes that it has upgraded its guidance once again. It said:

The upgrade from 33.2cps to 34.0cps represents an additional $15m in FFO or ~2.4%. The 3Q upgrade follows GPT upgrading FY25 guidance at the 1H25 result, with FY25 guidance now upgraded by +2.7-4.6% over the past 9 months.

We understand the 3Q upgrade is driven by stronger underlying business performance, particularly management operations and a lower cost of debt. At the 1H25 result, we previously estimated GPT should have seen a 1.6% tailwind to FFO from a lower WACD (5.3% vs 5.5% initial expectation). This implies a 1.1-3.0% improvement in the underlying business vs. initial expectations.

Another positive that Macquarie highlights is that office occupancy is tracking ahead of its prior expectations. It adds:

Office occupancy increased modestly to 95.2% from 94.4% at Jun-25 (incl. HoAs). We had expected occupancy to remain broadly stable in 2H25, with GPT previously indicating 2.1% of expiry in 2H25.

Big potential returns

In light of the above, Macquarie remains very positive on the ASX 200 stock and has reaffirmed its outperform rating with a slightly improved price target of $6.27.

Based on its current share price of $5.53, this implies potential upside of 13% for investors between now and this time next year.

In addition, the broker expects aa dividend of 25.7 cents per share in FY 2026. This represents a 4.6% dividend yield, which lifts the total potential return beyond 17%.

Commenting on its outperform rating, the broker said:

Outperform, $6.27 TP. Execution of strategy offers upside potential to valuation in the medium to long term. From here, we believe evidence of growth in third-party FUM will be key.

Earnings changes: FY25/26/27 FFO +2.4%/+4.2%/+3.9% driven by improved office occupancy assumptions and flow-on annualisation impacts. Valuation: TP broadly unchanged at $6.27 (prior: $6.26). Catalysts: Announcement of successful unlisted third-party capital raise.

Overall, this could make GPT Group a top pick for investors that looking for a combination of double-digit upside and an attractive dividend yield.

The post Macquarie tips 17% return for this high-flying ASX 200 stock appeared first on The Motley Fool Australia.

What did The GPT Group report?

• Group investment portfolio occupancy was 98.0% for the quarter ending 30 September 2025
• Retail portfolio occupancy reached 99.6%, with specialty sales up 4.8% on the prior year
• Office portfolio occupancy was 95.2%, with a WALE of 4.7 years
• Logistics portfolio occupancy was 98.4%, with a WALE of 4.7 years
• Funds from Operations (FFO) guidance for 2025 upgraded to 34.0 cents per security (up 5.5%)
• 2025 distribution guidance unchanged at 24.0 cents per security

What else do investors need to know?

The Group exchanged contracts post-quarter end for a 50% interest in Grosvenor Place, Sydney. This $860 million transaction is in partnership with the Commonwealth Superannuation Corporation, expanding GPT's office footprint in a landmark location.

During the quarter, GPT settled its new logistics partnership with QuadReal, called GPT QuadReal Logistics Trust 2. This partnership aims to support future growth in GPT's logistics assets and offer new income streams for investors.

What did The GPT Group management say?

Russell Proutt, Chief Executive Officer said:

We continue to see strong performance from our Investment portfolio, reflecting our focus on driving operational efficiencies and leasing outcomes. This has translated into further growth across our management platform and earnings for our investors.

What's next for The GPT Group?

Looking ahead, GPT is focused on consolidating its growth through operational efficiencies and strategic partnerships. The upgraded full-year FFO guidance reflects confidence in the business's ability to deliver results for investors.

With investments in high-occupancy assets and selective acquisitions like Grosvenor Place, the Group is positioning itself to ride out market shifts and support long-term unitholder returns.

The GPT Group share price snapshot

GPT Group shares have risen 16% over the past 12 months, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 8% over the same period.

View Original Announcement

The post The GPT Group lifted its 2025 guidance after a strong September quarter appeared first on The Motley Fool Australia.

Investors might consider REITs because they usually have predictable cash flows and dividend distributions and offer some capital growth opportunities.

This can provide solid diversification as these markets can move differently to other investments. 

The team out of Macquarie has released a new report today analysing the sector. 

Broadly speaking, the report highlighted that higher bond yields are putting pressure on REIT sector performance, particularly active REITs and fund managers.

The broker said the REIT sector is a relative loser from rising yields. 

Conversely, technology, discretionary and financials are typically the best performers. 

It said bond proxies including REITs are typically the worst.

Despite this, there are 2 ASX 200 REITs that have attracted outperform ratings and attractive price targets from the broker. 

GPT Group (ASX: GPT)

The company is one of Australia's largest listed property trusts. It owns and manages a portfolio of Australian office, logistics, and retail assets worth more than $16 billion. It also has funds under management of more than $19 billion. 

GPT Group shares have risen almost 22% higher in 2025 already. 

The broker believes there could be more growth to come. It has an outperform rating and price target of $6.26 on this ASX REIT. 

From today's share price of $5.40, this indicates an upside of almost 16%. 

It said GPT is offering upside to earnings/valuation in the medium to long term.

Mirvac Group (ASX: MGR)

Mirvac Group (ASX: MGR) is a diversified property group with interests across residential and master-planned communities, office and industrial, retail, and build-to-rent sectors.

It has already risen an impressive 22% year to date. 

In today's report, Macquarie placed a price target of $2.70 on this ASX REIT. This indicates an upside of 17.39% from today's share price of $2.30. 

We prefer MGR on a resi recovery, trading on 18x FY26E P/E (earnings recovery year post FY25 trough).

The post Macquarie names its top 2 ASX 200 REITs appeared first on The Motley Fool Australia.

That's probably no surprise if you go back and have a look at their recent comments to the market.

In August, the company released its half-year results, and a stand-out was the occupancy levels in its retail portfolio, which were running at a hard-to-beat 99.7% at the end of the financial year.

Retail running hot

The recent investor day briefing focused on the retail portfolio, which Macquarie analysts said accounted for 39% of GPT's $12.2 billion investment portfolio.

The Macquarie research note sent to clients this week said that GPT was outperforming its peers on the retail front, and the company's retail division had "improved fundamentals, stabilised valuations, capital inflow and expected income led returns''.

Some of the factors feeding into this were strong population growth projections, which were running at 7.3% over a five-year forward period, while growth in retail stock was only forecast to be a modest 0.9%.

The Macquarie note says:

The retail sector is supported by attractive fundamentals which GPT is well-placed to capitalise on. More broadly, execution of funds strategy offers upside potential to valuation in the medium-long term.

Growth story

GPT also had a strong retail development pipeline, with $1.5 billion in projects to be rolled out, including the Rouse Hill Town Centre in Sydney, which the analysts toured.

That project is expected to be completed in the fourth quarter of 2026 and adds 50 new tenancies in the area.

As Macquarie's analysts write, GPT is also targeting further growth.

GPT is targeting quality retail assets, in quality locations with a strong growth profile and good socioeconomics. Location preference is informed through catchment analysis, with leasing deals also benchmarked against the breadth of customer demand for a tenant in a specific area.

The strength of the retail sector was outlined in the Macquarie report, using the Highpoint Shopping Centre as an example, with that site fully leased out, "with 45 national tenants wanting to double in size and create flagship stores''.

Macquarie has an outperform rating on GPT shares and a valuation of $6.26 per share compared with the price at the time of publication of $5.44.

Factoring in dividends, they are expecting a total shareholder return over 12 months of 19.56%.

The post Macquarie says this real estate company could deliver close to 20% upside appeared first on The Motley Fool Australia.

It might be difficult to search for the right company to invest in, but Macquarie Group Ltd (ASX: MQG) has recently flagged three high-yield stocks it expects will outperform over the next 12 months.

3 high-yield shares to keep an eye on

The broker has assigned an outperform rating and a $2.70 target price to Mirvac Group (ASX: MGR) shares. 

At the time of writing on Thursday morning, the Mirvac share price is up 0.44% to $2.30 per share. For the year, it is 5.02% higher. That means Macquarie's target price represents a potential 17.4% upside for Mirvac Group shares.

Mirvac Group shares currently have a dividend yield of 3.90%.

Macquarie also has an outperform rating and $8.46 target price on Dexus (ASX: DXS) shares. 

At the time of writing, the Dexus share price is 0.28% higher and trading at $7.23 a piece. For the year, the shares are 4.99% lower. The current trading price means the broker's target price of $8.46 represents a potential 17% upside.

Dexus shares currently have a dividend yield of 5.12%.

The third high-yield stock flagged to outperform is GPT Group (ASX: GPT). Macquarie has revealed a $6.26 12-month target price on the shares. 

At the time of writing, the GPT Group share price is flat at $5.42 each. Over the year, the share price has risen 8.4%. This means Macquarie's $6.26 target price represents a potential 15.5% upside for investors over the next 12 months.

GPT Group shares currently have a dividend yield of 4.38%.

Office tenancy is rising again

Macquarie said it has reviewed the 3Q25 JLL commercial property data, which analyses the performance, trends, and outlook of the commercial property real estate market. The broker commented that office tenancy data is recovering across Australia.

"Net absorption [the amount of leased or occupied space] was positive across all major cities and has accelerated at a national level over the past year. Sydney was the strongest over the quarter while Melbourne has seen the greatest improvement over the last 12 months," the broker said.

Analysts added that Sydney and Brisbane are Macquarie's preferred markets, and within Sydney, Sydney core is the preferred precinct because of lower vacancy (~13%). 

Within Brisbane, the Golden Triangle is the preferred market. Melbourne is the least preferred market, and within Melbourne, Docklands is the least preferred precinct, given the high vacancy (~21%). 

"We have also previously analysed the quality of the portfolios, see here. 58% of DXS's portfolio lies within the "core" of the major gateway cities. This compares to 30% for SGP, 24% for GPT and 18% for MGR," Macquarie said.

The post Boost your passive income portfolio: Macquarie expects these 3 high-yield stocks to outperform appeared first on The Motley Fool Australia.

That's because analysts at Macquarie Group Ltd (ASX: MQG) are tipping it to outperform.

Which ASX 200 stock?

The stock that gets a thumbs up from Macquarie is GPT Group (ASX: GPT).

It is one of Australia's leading real estate investment managers, with assets under management of $34 billion across a diverse portfolio of high-quality retail, office, logistics and student accommodation assets.

According to the note, the broker has reviewed the ASIC lodged accounts and constitution for GPT Wholesale Shopping Centre Fund (GWSCF) and GPT Wholesale Office Fund (GWOF). It notes that this provides details of the GWSCF revised fee structure and liquidity terms. Macquarie said:

GWSCF has satisfied 77% of the 20% capped upfront liquidity accepted. Liquidity of up to 2.5% per quarter will commence the earliest of satisfaction of outstanding liquidity requests and 1-Jul-26. We estimate GWSCF gearing will exceed the upper end of the target gearing range of 10-30% post completion of upfront liquidity redemptions and including c. $100m capital committed to the Rouse Hill development. GWSCF has targeted to raise up to $500m of new equity at $0.8789 a 0.6% discount to 30-Jun-25 net asset value per security. If successful this would provide c. $620m of acquisition capacity to 30% gearing.

As for GWOF, Macquarie acknowledges that its modernisation poses a risk to the ASX 200 stock's earnings. It adds:

GWOF modernisation of fund terms a risk to GPT earnings. We assume a fee cut to 37.5bps in Dec-26 and redemption requests equal to 30% of GAV satisfied via asset sales over FY27. Peer fund fees are: APPF Commercial 29bps, MWOF 30bps and CPOF c. 39.6bps. We also understand some managers may provide rebates via side letters to investors based upon total AUM in the respective manager platform.

Time to buy

In response to the above, Macquarie has retained its outperform rating on the ASX 200 stock with a trimmed price target of $5.67.

Based on its current share price of $5.39, this implies modest potential upside of 5.2% over the next 12 months.

However, it also expects dividend yields of 4.5% in FY 2025 and then 4.6% in FY 2026. This boosts the total potential 12-month return to approximately 10%.

Commenting on its outperform recommendation, Macquarie concludes:

Outperform $5.67 TP. Execution of strategy offers upside potential to valuation in the medium to long term. From here, we believe evidence of growth in third-party FUM will be key.

The post Macquarie tips this ASX 200 stock to outperform appeared first on The Motley Fool Australia.

The ASX 200 closed at a new peak of 9,019.1 points today, up 1.13%.

ASX 200 industrial shares led the market higher, rising 3.43%.

Consumer staples and consumer discretionary shares also had a good day, with both sectors up by more than 2%.

A large group of individual ASX shares hit new price peaks today.

16 ASX 200 shares also reached price peaks today

Here is a sample of the stocks that hit new multi-year price highs today.

Westpac Banking Corp (ASX: WBC)

The market's second biggest bank share lifted to a 10-year high of $38.80.

Wesfarmers Ltd (ASX: WES)

The largest ASX 200 consumer discretionary share lifted to a record $94.76 on Thursday.

Telstra Group Ltd (ASX: TLS)

The Telstra share price leapt to an 8-year high of $5.02 today.

Transurban Group (ASX: TCL)

This ASX 200 industrial share ascended to a 2-year high of $14.77.

Brambles Ltd (ASX: BXB)

Fellow industrial share, Brambles, reached an all-time record of $26.26.

Charter Hall Group (ASX: CHC)

This ASX 200 real estate investment trust (REIT) smashed a new record high of $23.44 today.

GPT Group (ASX: GPT)

Another ASX property share, GPT Group, rose to a 3-year high of $5.56 on Thursday.

Newmont Corporation CDI (ASX: NEM)

This ASX 200 gold share lifted to an all-time peak of $107.39 today.

Orica Ltd (ASX: ORI)

Stock in this explosives manufacturer rose to a five-year high of $21.89 today.

ResMed CDI (ASX: RMD)

The Resmed share price ascended to a record high of $45.20 on Thursday.

Origin Energy Ltd (ASX: ORG)

The Origin Energy share price soared to an 11-year peak of $13.07 today.

The ASX 200 utilities share is up 30% over the past year. Can it keep rising?

Super Retail Group Ltd (ASX: SUL)

This ASX retail share lifted to an all-time peak of $20.20 after the company released its FY25 results.

Eagers Automotive Ltd (ASX: APE)

The Eagers Automotive share price rose to a record $22.67 on Thursday.

Codan Ltd (ASX: CDA)

This ASX 200 tech share lifted to a record $26.89 today.

Downer EDI Ltd (ASX: DOW)

The Downer share price hit a five-year high of $7.43 today after the company released its FY25 results.

The Lottery Corporation Ltd (ASX: TLC)

The ASX gaming share lifted to a record high of $5.86 on Thursday.

The Lottery Corporation released its FY25 results yesterday.

The post 16 ASX 200 shares roar to multi-year highs amid new market milestone appeared first on The Motley Fool Australia.

What did GPT Group report?

• Funds from operations (FFO) of $322.6 million, or 16.8 cents per security
• Adjusted funds from operations (AFFO) of $257.4 million
• Statutory net profit after tax of $329.1 million
• Interim distribution of 12.0 cents per security
• Investment portfolio valuation uplift of $48.3 million
• Net tangible assets per security of $5.31 and net gearing at 30.7%

What else happened in the half year?

GPT maintained strong portfolio metrics, with occupancy at 98.5% and assets under management increasing to $36.6 billion. Gross transactions totalling around $2.3 billion were completed, showing ongoing asset recycling and development activity.

The retail portfolio performed well, with occupancy at 99.7% and like-for-like net property income growth of 5.6%. Major projects included the $200 million expansion of Rouse Hill Town Centre and progress on new logistics developments. GPT also announced the launch of a new $1 billion logistics partnership, GQLT2.

What did GPT Group management say?

Commenting on the result, CEO Russell Proutt said:

Our success in the half has been built on the strong operational performance at the asset level, a testament to the quality of our portfolio and ability of our people to drive earnings. We continue to focus on our investment management strategy and have added significantly to our depth of capability in areas including research, corporate development and investor engagement. Looking forward, our ambition and strategy is unchanged and we are focused on delivering long-term value to our stakeholders.

What's next for GPT Group?

Looking ahead, GPT expects to deliver 2025 full-year funds from operations of no less than 33.2 cents per security, which represents at least 3% growth on the prior year. Management is also targeting a full-year distribution of 24.0 cents per security and continuing with its development pipeline and new partnership roll-outs.

The Group highlighted its strong balance sheet, ongoing asset redevelopments, and partnerships as key to ongoing value creation for security holders. Major projects, such as the Rouse Hill Town Centre expansion and further logistics developments, are set to support medium-term growth.

GPT Group share price snapshot

Over the past 12 months, GPT Group shares have slightly trailed the market, rising 11% compared to 12% for the S&P/ASX 200 Index (ASX: XJO). 

View Original Announcement

The post GPT Group posts steady 1H25 earnings and distribution appeared first on The Motley Fool Australia.

It's been a great week for the market after an interest rate cut on Tuesday and data showing lower unemployment in July on Thursday.

Hence, the ASX 200's record high was reset on Tuesday, Thursday, and again this afternoon.

What's happening with the ASX 200 on Friday?

Reporting season continues, with ASX 200 healthcare giant Cochlear Ltd (ASX: COH) releasing its full-year FY25 results today.

Cochlear reported a 9% increase in statutory net profit after tax (NPAT) to $389 million for FY25 and a final dividend of $2.15 per share.

Investors appear nonplussed by the numbers, with the Cochlear share price down 0.25% to $305.35 at the time of writing.

Meanwhile, Ampol Ltd (ASX: ALD) shares are leading the ASX 200 today, rising 9.45% to an intraday peak of $29.64 after the company announced a $1.1 billion acquisition.

Here are the other top risers today.

Fastest rising ASX 200 shares on Friday

Source: asx.com.au at time of writing

ASX shares hitting multi-year highs today

Meanwhile, a bunch of ASX 200 shares have reached multi-year high share prices today.

Here is a sample.

Source: Google Finance at the time of writing

Popular ASX ETFs reach new price milestones on Friday

Some popular ASX exchange-traded funds (ETFs) also reached new record price levels today.

They include:

Source: Google Finance at the time of writing

Yesterday, we reported that Australians ploughed a record $5.82 billion into ASX ETFs last month.

What's on next week?

ASX 200 investors are gearing up for a big week next week.

Many ASX 200 heavyweights are due to release their latest financial reports.

They include BHP Group Ltd (ASX: BHP), CSL Ltd (ASX: CSL), Ampol, Woodside Energy Group Ltd (ASX: WDS), Goodman Group (ASX: GMG), Northern Star Resources Ltd (ASX: NST), and Xero Ltd (ASX: XRO).

There will also be strong interest in the results from Zip Co Ltd (ASX: ZIP), Charter Hall Group, and HUB24 Ltd (ASX: HUB).

The post Oops, the ASX 200 did it again! Another record high appeared first on The Motley Fool Australia.

ASX 200 utilities, financials, and consumer discretionary shares dragged the market to its new peak today.

The new record followed a 0.25% interest rate cut announced by the Reserve Bank of Australia in the afternoon.

Several ASX exchange-traded funds (ETFs) tracking the ASX 200 Index also hit record highs today.

They included the SPDR S&P/ASX 200 ETF (ASX: STW), which peaked at $79.83 per unit.

The Betashares Australia 200 ETF (ASX: A200) hit $148 per unit.

The iShares Core S&P/ASX 200 ETF (ASX: IOZ) reached $35.69 per unit.

The rate cut also resulted in a new record high for the S&P/ASX 300 Index (ASX: XKO) at 8,825.5 points.

This sent the biggest Aussie ETF, the Vanguard Australian Shares Index ETF (ASX: VAS), to a new peak of $110.

7 ASX 200 stocks also set records today

A bunch of individual ASX 200 stocks hit new price peaks today.

Here is a sample.

Life360 Inc (ASX: 360)

This ASX 200 technology darling ascended to a record high of $43.34.

Life360 shares surged 8% on Tuesday after the family location app provider released its June quarter report.

The tech share was the fastest riser of the ASX 200 today.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price lifted to a 13-year high of $13.31.

Top broker Macquarie has an underperform rating with a price target of $9 on the ASX 200 rare earths stock.

Charter Hall Group (ASX: CHC)

This ASX 200 real estate investment trust (REIT) lifted to a four-year high of $21.94 today.

Charter Hall was the No. 1 property stock for price growth in FY25.

GPT Group (ASX: GPT)

Another ASX 200 property stock, GPT Group, rose to a three-year high of $5.22 on Tuesday.

Macquarie has an outperform rating on GPT Group shares with a 12-month price target of $5.36.

Deterra Royalties Ltd (ASX: DRR)

Deterra Royalties shares lifted to a 15-month high of $4.49 on Tuesday.

WAM Capital Ltd (ASX: WAM)

This ASX 200 listed investment company (LIC) matched its near two-year high of $1.72, reached last Thursday, today.

WAM Capital released its July investment update today.

IMDEX Ltd (ASX: IMD)

This ASX 200 materials stock rose to a record high of $3.34.

Fund manager L1 Capital has a buy rating on IMDEX shares.

The fundie continues to see "positive tailwinds for the business, above and beyond the improving market environment …".

The post 7 ASX 200 stocks soar to multi-year highs amid new market record appeared first on The Motley Fool Australia.

Some ASX REITs focus on commercial real estate, such as offices, hospitals, shopping centres, hotels etc. While others focus on residential property. 

Interest rates are expected to continue falling, which is good news for REITs. 

ASX REITs tend to perform better when interest rates fall because lower borrowing costs, more attractive relative yields, rising property valuations, and improved economic conditions all enhance their profitability and investor appeal.

Broker Macquarie Group Ltd (ASX: MQG) has identified 3 large cap REITs to target this month. 

Mirvac Group (ASX: MGR)

Mirvac Group is a diversified property group with interests across residential and master-planned communities, office and industrial, retail, and build-to-rent sectors.

Its stock price is up roughly 5% in the last year. 

The team at Macquarie project further rate cuts in the near term.

The Macquarie Macro Strategy Team forecast a further 75bps of rate cuts this cycle in Australia which should benefit the earnings of multiple players in the sector.

The broker believes this is positive news for REITs such as Mirvac Group. 

We remain attracted to the residential sub-sector long term including further support from monetary policy easing in CY25. However, valuation support is closing up with MGR now trading on 12mf consensus P/E of ~18x vs the LTA of ~16x, although remains below the high of ~20.5x in FY21.

Macquarie has an "outperform" rating and target price of $2.38 on the REIT stock. 

Based on its current share price of $2.20, this indicates an 8.18% upside. 

GPT Group (ASX: GPT)

GPT Group is one of Australia's largest listed property trusts. It owns and manages a portfolio of Australian office, logistics, and retail assets. 

Its stock price has risen approximately 12% in the last year. 

Macquarie is optimistic on the stock due to management's new strategy targeting 3–6% annual growth in earnings.

Management has committed to a new strategy and long-term incentive performance hurdle of 3-6% CAGR in AFFO per security. Successful execution of the strategy should lead to a higher RoCE and accelerated earnings growth driving outperformance. GPT has reallocated internal resources to win third-party capital; now the focus shifts to delivery.

The broker has an "outperform" rating and target price of $5.36. This indicates a 7.42% upside. 

Dexus (ASX: DXS)

Dexus is a major Australian property investor, developer, and manager. It has a large, high-grade office portfolio and a smaller industrial portfolio in Australasia.

Its stock price is similar to this time last year.

Macquarie still likes Dexus despite slow earnings growth. 

Despite risks associated with APAC, the group is trading at a 22% discount to Dec-2024 NTA per share, which we believe is an overly pessimistic view of valuation. Despite anaemic earnings growth (-1.6% AFFO CAGR FY24-27), we continue to like the stock on an expected turning point in office near term, and on valuation.

The broker has an "Outperform" rating and target price of $7.50 on this ASX REIT share. This indicates an upside from current levels of 7.60%. 

The post Macquarie names 3 large cap ASX REITs to buy this month appeared first on The Motley Fool Australia.

They're also a great option for investors who do not wish to be bothered by bad tenants, leaking ceilings, and a litany of ongoing costs.

In this article, we compare the capital growth of the largest ASX REITs on the share market to residential property across the nation.

At a macro level, ASX REITs delivered a superior performance to physical property on a growth and total returns basis in FY25.

The S&P/ASX 200 Real Estate Index (ASX: XPJ) rose by 10.25% and produced total gross returns, including dividends, of 13.97% in FY25.

This was slightly superior to the benchmark S&P/ASX 200 Index (ASX: XJO), which rose 9.97% and provided total returns of 13.81%.

Meantime, the national median home value, which reflects all types of property in a single data point, rose by 3.4% and produced total returns, including weekly rents, of 7.1% in FY25, according to Cotality data.

The national median house price rose by 3.7% to $905,076 and delivered total returns of 7.2%. This equated to a 3.5% gross yield.

The Australian median apartment price lifted by 2.3% to $686,399, with total returns of 7%. This equated to a 4.6% gross yield.

Top 5 ASX REITs and how they performed in FY25

Here is the share price growth of the market's top five ASX REITs by market capitalisation in FY25.

Residential real estate in FY25: Houses

Here is the price growth of houses in each city and regional property market in FY25.

Residential property investment in FY25: Apartments

Here is the price growth of apartments in each city and regional property market in FY25.

Interest rate cuts

Interest rate cuts are a tailwind for both ASX REITs and residential property.

Cotality's research director, Tim Lawless, said the first rate cut in February arrested market weakness from November to January:

The first rate cut in February was a clear turning point for housing value trends.

An additional cut in May, and growing certainty of more cuts later in the year have further fuelled positive housing sentiment, pushing values higher.

The post How did ASX REITs vs. residential property investment perform in FY25? appeared first on The Motley Fool Australia.

To navigate potential earnings downgrades during the Australian winter and reporting season, the broker is focusing on stocks that have expected 2026 earnings per share upgrades and which are in the positive phase of the momentum cycle.

It also plans to avoid too much exposure to stocks with recent downgrades and weaker momentum.

In a recent note to investors, the broker notes the importance of managing risk exposure over the coming months. It commented that the "ASX is only down 2% since the recent high on June 11 as Middle East tensions started to drive a spike in oil prices, but the number of stocks in Stage 4 (with weaker momentum) has doubled".

Here's a breakdown of the ASX 200 stocks Macquarie Group currently favours.

QBE Insurance Group (ASX: QBE)

QBE's share price has slipped 0.43% today, down to $23.37 at the time of writing. 

But the insurance group's stock price has steadily risen over the past year, up 33%. It's up around 1% over the past month.

The broker has a price target of $23 on QBE's stock.

GPT Group (ASX: GPT)

GPT is one of Australia's largest listed property trusts, with major exposure to retail, office, and logistics assets.

The group's share price has risen 1% at the time of writing, up to $5.06. The share price has risen steadily since March this year, up around 5%, and is 21% higher over the year.

Macquarie has a price target of $5.38 on GPT's stock.

ResMed Inc (ASX: RMD)

ResMed's share price has slipped 0.67% at the time of writing to $39.08. The share price has risen sharply by around 19% since late April this year thanks to strong earnings and receding fears or changes in investor sentiment.  

Over the year, ResMed's share price is 41% higher.

Macquarie has a price target of $48.00 on ResMed stock.

Metcash Ltd (ASX: MTS)

Metcash is a wholesaler and retailer in the consumer staples sector, operating in the food, liquor, and hardware businesses.

Its share price has risen 2.76% so far today to $3.91. Following strong full-year results, the share price has jumped 15% over the month alone and is now up around 6% over the year.

Macquarie has a price target of $3.70 on Metcash stock.

Atlas Arteria Ltd (ASX: ALX)

Atlas Arteria, formerly known as Macquarie Atlas Roads, is one of the world's largest developers and operators of private toll roads. 

The company's share price is down 2.23% currently, trading at $5.25. The current price represents an around 9% recovery since it dipped in April this year when its shares went ex-dividend.

Over the year, Atlas' share price is up 3%.

Macquarie has a price target of $5.51 on ALX stock.

APA Group (ASX: APA)

APA's share price has slipped 2.19% at the time of writing to $8.48. But since late February this year, the share price has soared by around 30% after the company revealed strong half-year results. Over the year, APA's share price is 1% higher.

Macquarie has a price target of $8.14 on APA stock.

Orica Ltd (ASX: ORI)

Orica's share price is 1.42% higher today, trading hands at $19.24 at the time of writing. Like many other stocks in this list, Orica's share price surged in mid-April. Over the past two months, supported by its buyback program, the company's share price has jumped around 26%; over the year, it has risen 8%. 

Macquarie has a price target of $21.48 on Orica stock.

The post All about the momentum: Which ASX 200 stocks does Macquarie currently favour? appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.