WAM Leaders Ltd (ASX: WLE) is a listed investment company (LIC) that targets larger ASX shares to generate returns. It takes an active approach to buying and selling shares – it's not a passive index fund.

I think active investing can produce outperformance over the long term, particularly when it comes to the S&P/ASX 200 Index (ASX: XJO), which is largely dominated by a few ASX bank shares and ASX mining shares.

At the end of October 2026, the WAM Leaders portfolio performed almost 3% better on average per year than the S&P/ASX 200 Accumulation Index (ASX: XJOA), before fees, expenses and taxes, since the LIC's inception in May 2016. That shows WAM Leaders knows how to pick stocks.

Below are the two ASX blue-chip shares that WAM Leaders highlighted.

Challenger Ltd (ASX: CGF)

The first company WAM Leaders mentioned was Challenger, the leading Australian annuity business.

The LIC noted that the Challenger share price rose strongly (18%) in October 2026 following news of an $11.80 per share non-binding takeover proposal from TAL Daiichi Life Australia, which owns approximately 20.5% of the company.

It was noted that the proposal represented an approximately 18% premium to the one-month volume-weighted average share price.

However, Challenger's board rejected the proposal as insufficient to recommend it to shareholders, while remaining open to discussions about an improved offer.

WAM noted that underlying operating momentum was also positive, with Challenger's total book value growing by 7.7% in the first quarter of FY27, supported by robust demand for fixed-term annuities. In that announcement, released on 19 October 2026, it said total sales grew 52% to $4.4 billion while fixed-term sales soared 103% to $2.2 billion.

The WAM investment team noted that Challenger remains a core holding in its portfolio and that there's "scope for a higher takeover offer" due to Challenger's growth outlook, the structural tailwind from Australia's ageing population, and potential improvements in capital efficiency under the new Australian Prudential Regulation Authority (APRA) framework.

GPT Group (ASX: GPT)

The other ASX blue-chip share the LIC highlighted was the real estate investment trust (REIT) GPT.

WAM noted that the GPT Group share price rose during October (up 6.8%), supported by a strong rally in long-dated Australian bonds during the month, reversing much of the weakness seen in September and improving market sentiment towards long-term property assets.

The investment team noted that the $200 million Rouse Hill Town Centre expansion opened fully leased, adding 10,500 square metres and more than 50 tenancies with income starting from the first day. The development is tracking to a yield on cost ahead of its initial 6.5% target.

The fund managers believe that successful delivery demonstrates the ASX blue-chip share's ability to create value through its development pipeline.

The WAM investment team remain "constructive" on GPT Group's high-quality portfolio and improving earnings fundamentals, with the share price continuing to trade at a discount to its net tangible assets (NTA) backing.

On 17 August 2026, it released its FY26 half-year result, which revealed NTA of $5.61. That means, at a share price of $5.10, it's trading at a 9% discount to that NTA. In other words, it's still trading at a sizeable discount.

The post 2 top ASX blue-chip shares to buy according to experts appeared first on The Motley Fool Australia.

Broker Canaccord Genuity has this week released a research report on the listed real estate sector and notes that it has significantly underperformed the broader market this year.

Not surprisingly, they argue this is due to the four interest rate increases to date this year, with another likely in November.

But they also point out that the market is pricing in the next interest rate increase as the final one in the cycle, before rates then begin to fall.

They added:

While policy easing appears unlikely until at best late 2027, we believe now is a good time to explore countercyclical opportunities, given markets are inherently forward-looking and typically move well ahead of actual changes in monetary policy.

CG said real estate has a strong inverse relationship with interest rates, and at the moment, the sector is closest to "trough valuations" among rate-sensitive sectors.

They said the sector was trading at levels similar to prior cycle lows and materially below its five-year average.

CG added:

In addition, interest rates are the primary headwind facing Real Estate, making it the 'cleanest' rates play. REIT earnings are largely underpinned by contracted rents, making them less directly exposed to swings in consumer spending, even in consumer-facing subsectors such as retail property.

CG has selected four companies as their preferred real estate exposures.

These are:

Goodman Group Ltd (ASX: GMG)

CG said Goodman Group has attractive fundamentals, and its growing data centre portfolio exposes it to the AI thematic.

The company is currently trading at a 23% discount to its five-year average, and "the valuation appears attractive for this level of growth, with potential near-term lease announcements providing scope for the stock to re-rate''.

Scentre Group Ltd (ASX: SCG)

The broker said Scentre is a high-quality defensive stock, with its portfolio of Westfield shopping centres, which boast near-full occupancy.

While its retail tenants are sensitive to rate increases, Scentre's income is supported by contracted leases with inflation-linked reviews.

Scentre is trading at a 22% discount to its five-year average, CG said.

Charter Hall Group Ltd (ASX: CHC)

CG said Charter Hall was the strongest beneficiary of an interest rate stabilisation scenario and was looking cheap, with its price-to-earnings ratio having dropped 30% from its 2026 highs.

The broker said they believed this drop was due to interest rates rather than stock-specific concerns.

They added:

CHC offers compelling value for a high-quality franchise with a double-digit EPS growth outlook, particularly for investors who believe rates are near their peak.

GPT Group Ltd (ASX: GPT)

CG said GPT, "offers broad-based Australian real estate exposure across the retail sector (40% of value), office (37%) and logistics (24%), alongside a growing funds management business''.

The company's high-quality retail centres, with near-full occupancy, anchored earnings, and the company had historically benefited from falling rates.

The broker said GPT was trading at 32% below its five-year average on a price-to-earnings basis.

The post ASX real estate shares are near cyclical lows. Is it time to buy in? appeared first on The Motley Fool Australia.

Since the start of October, Arena REIT (ASX: ARF), Charter Hall Long WALE REIT (ASX: CLW), HomeCo Daily Needs REIT (ASX: HDN), Waypoint REIT (ASX: WPR), GPT Group Ltd (ASX: GPT), Vicinity Centres Ltd (ASX: VCX), and BWP Group Ltd (ASX: BWP) have all hit 12-month lows, with the dips concurrent with the RBA's rates decision.

Low share prices translating to good yields

Each of these real estate companies is now trading with a healthy trailing dividend yield. The question will be, can they maintain it?

Examples of some of these yields include Charter Hall at 7.94% unfranked and HomeCo at 8.03% unfranked.

Arena REIT is trading with a trailing yield of 7.76%. The company, in releasing its full-year results in August, gave guidance of 18 cents per share in distributions for the current financial year, which, at the current share price, would be a yield of 7.4%.

However, this estimate assumed the company would derive no income from the Arena properties occupied by Edge Early Learning Centres, which had entered administration.

Arena has subsequently told the ASX that all 27 of these properties are in the process of being leased to new owners; however, the deals are yet to settle.

As such, no dividend or guidance update has been made.

Interest rates a key focus

With real estate companies generally having large amounts of debt, their share prices could once again come under pressure if the RBA lifts interest rates again at its next meeting on 3 November.

ANZ Senior Economist Jasmine Zheng said this week a rate rise was "more likely than not", while Betashares Chief Economist David Bassanese was also predicting a hike.

The RBA's minutes from the meeting on October 6 indicated that further rate rises could be on the cards.

As they said:

Members discussed the challenges of judging how large the upside risks to inflation were or could become. They noted that the outlook for inflation would depend, among other things, on developments in the Middle East, the path of external demand, the extent of domestic capacity pressures and on how that influenced the pass-through of cost shocks and the evolution of inflation expectations. Members noted that it was possible these factors could continue to place upward pressure on inflation. Against that backdrop, members agreed that they would remain attentive to incoming data and the evolving assessment of the outlook and risks when making their decisions.

The post Dividend yields in focus as seven ASX real estate companies hit 12-month lows appeared first on The Motley Fool Australia.

If you're weighing up Scentre Group (ASX: SCG) and GPT Group (ASX: GPT) shares, you're not alone. Both are heavyweights in the Australian real estate investment trust (REIT) sector, and each brings something different to the table. For investors keen on passive income and exposure to commercial property, these ASX REITs offer a compelling head-to-head — especially with both now trading below where they started the year. Which is more likely to beat the ASX 200 from here? Let's take a closer look.

The case for Scentre Group

Scentre Group is best known for owning and operating 42 Westfield shopping centres across Australia and New Zealand, including many of the region's flagship retail destinations. Formed in 2014 from the restructure of Westfield Group, Scentre has built a diversified, marquee portfolio with more than $51 billion in retail assets under management, as of its company profile. The group's strategy centres on anchoring with major retail tenants, while attracting a wide mix of specialty retailers, entertainment, and lifestyle operators.

Several fundamentals jump out. Scentre's market cap stands at $18.04 billion, putting it among the ASX's largest landlords. The shares trade on a price-to-earnings (P/E) ratio of 9.17, with an earnings per share (EPS) of $0.376 and a dividend yield of 5.25%. Year to date, though, the share price has lagged, dropping 13.5%. On the dividends front, Scentre's most recent payments show little franking, and its last interim payout was $0.0922 per share.

The case for GPT Group

GPT Group brings a broader property focus. One of Australia's oldest listed trusts, GPT's $8.72 billion market cap reflects a substantial, though smaller, footprint than Scentre. GPT owns and manages a spread of retail, office, and logistics assets with funds under management topping $36 billion, according to its most recent public description. Uniquely among large ASX REITs, GPT has steadily grown its industrial property portfolio — roughly 28% as of its last update — which could position it well if e-commerce and warehousing trends persist.

GPT currently sits on a P/E multiple of 8.29 and EPS of $0.549. Its dividend yield is a touch higher than Scentre's at 5.33%, with the last interim dividend coming in at $0.1225 per share (again, with no franking). Like Scentre, GPT's shares have struggled so far this year, down 13.8% year-to-date.

Valuation comparison

Both Scentre Group and GPT Group are trading at relatively similar valuation multiples, but there are a few notable differences worth spelling out:

Note: GPT's P/E and EPS numbers are mathematically consistent, but Scentre's are less so, suggesting the P/E may be based on an alternative earnings measure.

Scentre is the bigger company by market capitalisation and has a marginally higher P/E. GPT edges ahead slightly on dividend yield and dividend per share, with both offering yields well above cash rates — a big draw for income-focused investors. Both have paid unfranked dividends lately, so franking isn't a distinguishing factor.

Recent share price momentum

Let's see how both performed recently. Using closing prices from 9 October 2026 — the most recent shared date in the data:

• Scentre closed at $3.45 per share, up 0.29% on the day, but still down 13.5% year-to-date.
• GPT closed at $4.55 per share, up 1.11% on the day, with a yearly decline of 13.8%.

While both stocks have suffered through the year, GPT showed a slightly stronger daily move on this shared date. Overall, though, they've tracked a remarkably similar negative trend during 2026, each surrendering well over 13% of their value since the start of the year.

Which is the better buy?

For my money, I'd lean towards GPT Group for a shot at outperforming the ASX 200 from here. Both businesses offer similar dividend yields and have taken a beating this year, but GPT's portfolio mix could be a quiet advantage, particularly its growing industrial and logistics component. That gives GPT a bit more exposure to property trends beyond retail shopping centres — an area that's seen pockets of resilience and growth recently.

GPT also scores slightly better on headline valuation metrics: its P/E multiple is lower, its dividend yield is marginally higher, and its EPS is well ahead of Scentre's. Scentre is by far the larger landlord and operator of blue-chip retail assets, but the challenging retail backdrop and comparable yield make GPT look more interesting to me on risk/reward grounds right now.

Of course, both are trading well below their 2026 highs — not unusual for REITs in a rising interest rate environment. As ever, investors looking for outperformance versus the ASX 200 will want to keep an eye on further shifts in rates and property values. But today, my pick would be GPT Group: it's cheaper, offers a better income stream, and has that diversified edge that could help it rebound sooner.

The post Scentre Group vs GPT Group: Which ASX REIT is more likely to beat the market? appeared first on The Motley Fool Australia.

When it comes to picking between GPT Group (ASX: GPT) and Dexus (ASX: DXS), you're sizing up two heavyweight names from the ASX's real estate investment trust (REIT) sector. Both offer large, diversified portfolios, long track records, and established brands. For everyday investors hunting income, value, or just exposure to Australian property, weighing GPT against Dexus makes a lot of sense. So, which might offer better value right now?

The case for GPT Group

GPT Group is one of Australia's largest listed property trusts, tracing its origins to the country's first ever REIT, set up in 1971. Over the decades, GPT has built a robust and conservative portfolio split across office buildings, major retail centres, and logistics/industrial assets. According to GPT Group, it manages over $42 billion of property and has recently increased its tilt toward industrial assets, now accounting for almost a third of its holdings.

What stands out in GPT's current fundamentals is its:

• Attractive 8.12 P/E ratio (notably lower than Dexus's)
• Dividend yield of 5.44%
• Market cap around $8.6 billion, making it one of the larger players on the market.

GPT's consistent history of paying fully unfranked distributions – roughly 24 cents per share annually in recent years – underlines its income credentials, though franked income isn't on offer here. Its conservative approach to gearing (debt) and measured development pipeline have long appealed to more cautious property investors.

The case for Dexus

Dexus has transformed beyond a pure office property landlord into a broader platform managing listed and unlisted real estate, infrastructure, and alternative assets – especially since its big 2023 acquisition of AMP Capital's real estate and infrastructure arm. Dexus directly and indirectly holds premium office, logistics, retail, and airport assets, notably including stakes in Melbourne Airport and Jandakot Airport.

Key fundamentals for Dexus right now include:

• A higher dividend yield of 6.67%
• A market cap of $5.96 billion (a notch below GPT, but still sizeable)
• P/E ratio of 10.17

Dexus's income stream is attractive, at around 37 cents per share (annualised from the last year's payouts), with a portion of its most recent distributions franked (but with franked percentages varying between periods). Its recent diversification into infrastructure assets sets it apart from most traditional REITs, potentially adding some resilience – though also introducing new complexity for investors used to pure property exposure.

Valuation comparison

Here's a side-by-side look at the major valuation metrics based on the latest figures:

Both companies sport very similar recent EPS. GPT's P/E ratio is noticeably lower, which usually means investors are paying less for each dollar of earnings – but Dexus's higher dividend yield may appeal to those seeking bigger income streams. Franking is limited for both, but Dexus's distributions do carry some franking credit, while GPT's are unfranked. Note: both companies have reported EPS figures very close to or slightly above their per-share distributions, but as always, there can be timing and calculation differences between reported EPS and current-year payout ratios.

Recent share price performance

Share prices for both companies have been under pressure over the year to date, as interest rates and broader property sector worries have weighed on REIT valuations.

Comparing 25 August to 21 September 2026:

• GPT Group fell from $4.69 to $4.49, a drop of around 4.3% across the period.
• Dexus slipped from $5.88 to $5.54, down approximately 5.8% over the same range.
• Year to date, GPT's return is -15.5%, while Dexus has dropped -17.4%.

In short, Dexus shares have underperformed slightly versus GPT in terms of recent momentum. Both have lagged the broader ASX, in line with their sector.

Which is the better buy?

For me, it's a line-ball call because both GPT Group and Dexus look like reasonable value on paper and have offered consistent income. If I had to tip one for value today, I'd lean just slightly toward GPT Group. My reasons? GPT trades on a meaningfully lower P/E (8.12 vs 10.17) for similar recent earnings, has a larger and arguably more conservative asset base, and its recent price performance has been a fraction less negative. While Dexus's higher dividend yield is tempting, the difference isn't life-changing on a yield-per-dollar basis, and GPT's simpler, core property focus and lower multiple appeal to my sense of "margin of safety" in the current environment.

If I were seeking maximum immediate yield and a taste of infrastructure, Dexus could still have the edge. But with its lower valuation and more traditional property mix, my pick for better value in this REIT head-to-head would be GPT Group.

The post GPT Group vs Dexus: Which ASX REIT is better value right now? appeared first on The Motley Fool Australia.

In a recent research note to clients, Morgans said the A-REIT index had fallen 15.5% over 12 months despite occupancy being at or near full across the industrial and convenience retail sectors.

Morgans has put the cause down to the swing in the interest rate cycle, with three increases so far this calendar year.

Morgans said:

Weighted average cost of debt rose for most names and FY27 assumptions are higher again.

The broker has identified five companies they rate as buys in the sector. Let's see who they like.

Qualitas Ltd (ASX: QAL)

This company is a real estate private credit manager, rather than a real estate investment trust, but Morgans believes they are looking cheap at the moment.

They said Qualitas is growing market share as the major banks retreat from the sector.

They added:

Fee-earning funds under management is growing strongly, with a high proportion of repeat borrowers underpinning deployment quality. Near-term re-rating is constrained by broader private credit sector sentiment, though we do not view QAL's loan book as subject to the same uncertainties as others in the space.

Morgans has a $3.90 share price target on Qualitas.

DigiCo Infrastructure REIT (ASX: DGT)

This company owns the SYD1 data centre, which Morgans describes as "a scarce Tier 1 CBD carrier hotel with secured power in a power constrained market''.

The data centre has an expansion plan on the cards, with Morgans saying the roadmap to full occupancy is well defined.

Morgans said the stock is trading at a significant discount to its net asset value.

Morgans has a price target of $3.60 on DigiCo.

GPT Group Ltd (ASX: GPT)

This company is well diversified across office, retail, and industrial assets, Morgans said, "complemented by a growing funds management platform that the market continues to undervalue''.

They added:

GPT's scale and liquidity make it one of the most accessible ways to gain exposure to Australian commercial property, and one of the names best positioned to re-rate as the interest rate outlook moderates.

Morgans has a price target of $5.65 on GPT.

HMC Capital Ltd (ASX: HMC)

This alternative asset manager has "a growing, diversified platform spanning energy transition, healthcare infrastructure and daily needs real estate'', Morgans said.

The company's recurring revenue stream is growing, "with the business progressively transitioning toward a more predictable, fee-based earnings profile''.

Morgans has a price target of $4 on HMC.

Garda Property Group Ltd (ASX: GDF)

Morgans said Garda operates a two-pronged business, generating revenue from both its industrial property portfolio and its private credit lending book.

Morgans has a price target of $1.30 on Garda.

The post 5 buy-rated shares in the ASX real estate sector to consider appeared first on The Motley Fool Australia.

There are calculators online, such as the federal government's Moneysmart calculator, which can show you how much in today's dollars you are likely to have at retirement, depending on your current circumstances.

This is extremely useful as it allows you to adjust your superannuation contributions if you feel you'll be falling short of what you need.

But how do you figure out what you need in the first place?

What is a comfortable retirement?

According to the Association of Superannuation Funds of Australia's (ASFA) retirement standard, singles need $56,166 in income per year to have a comfortable retirement, while couples need $78,998.

Their definition of a comfortable retirement involves the ability to afford top-level private health cover, to own and maintain a reasonable car, to travel occasionally and to afford social activities.

Keep in mind, though, that ASFA's standard assumes you own your own home and also draw a part pension once you hit the age of 67.

How much superannuation do I need to earn $70,000 per year in passive income?

Today we're assuming you're aiming for an income stream of $70,000 per year.

I will calculate this on the basis of dividends alone, with no drawdown of capital.

If you were able to earn a very high dividend yield of 10%, you'd need just $700,000 in retirement savings.

I'd suggest this level of earnings is unsustainable.

If you earned just 5% you'd need double this, at $1.4 million.

But I'd argue that with the benefit of franking credits, this is aiming too low.

So let's assume you could earn 7.5%. In this case, you'd need $933,333 in superannuation savings.

Franking credits are crucial to this equation. If you invest in fully franked dividends, you get back all the tax the company has already paid.

This is because retirees are not taxed on their superannuation earnings.

In practical terms, this means a share paying a 5% dividend yield actually pays 7.14% once franking credits are included.

So what shares might help hit this target?

Real estate investment trusts can be solid investments.

Digico Infrastructure REIT (ASX: DGT) pays a 4.65% dividend, albeit unfranked, GPT Group (ASX: GPT) pays 5.38%, and Centuria Office REIT (ASX: COF) pays 11.36%.

Infrastructure stocks such as APA Group Ltd (ASX: APA) and toll roads operator Atlas Arteria Ltd (ASX: ALX) pay healthy dividends of 5.33% and 8.98%, respectively.

Among the utilities, Origin Energy Ltd (ASX: ORG) is paying 5.14% fully franked, AGL Energy Ltd is paying 5.9%, and Telstra Ltd (ASX: TLS) is paying 4.34%, 90% franked.

In the financial services sector, Regal Partners Ltd (ASX: RPL) is paying 11.53%, Bank of Queensland Ltd (ASX: BOQ) is paying 6.08%, and Westpac Banking Corporation (ASX: WBC) is paying 4.45%.

How to give your super a boost

If you want to top up your superannuation, it's also worth reading up on concessional contributions, which are contributions you can make to your superannuation each year up to a cap of $32,500, which are only taxed at 15%.

Keep in mind that the $32,500 cap includes any employer contributions and salary sacrifice contributions.

The post How much superannuation do I need to earn $70,000 per year in passive income? appeared first on The Motley Fool Australia.

Here's what has happened, and what brokers tip next.

Charter Hall shares

The diversified property funds manager's shares have fallen 2% to an annual low of $18.03 at the time of writing. The latest decline means the shares have now crashed 24% over the past month and they're 27% lower for the year-to-date.

There hasn't been any price sensitive announcement out of the company this week. Instead it looks like it has been hit by a series of headwinds, including higher-than-expected inflation figures and a weakening property market. Concerns about further interest rate hikes are also putting pressure on property-related stocks across the sector.

Even the company's robust FY26 result announcement late last month didn't do enough to reignite investor confidence. Management announced a 26.8% increase in operating earnings, gross property transactions of $17.1 billion and the launch of multiple new funds and partnerships.

The experts are still bullish that there will be some upside ahead. Market Index data shows that the majority have a strong buy rating on Charter Hall shares. The $24.14 average target price implies around a 33% upside ahead, at the time of writing.

GPT Group shares

As one of Australia's largest listed property trusts, GPT is facing the same headwinds as Charter Hall shares this week.

The company, which owns and manages a portfolio of Australian office, logistics, and retail assets, with funds under management of more than $36 billion, is highly sensitive to shifts in property market sentiment.

Its shares are also down around 2% today, to an annual low of $4.41 each. Over the past month the shares have crashed 16%, and they're now 20% lower for the year-to-date.

The company also posted a solid first-half FY26 result last month, including a statutory net profit after tax of $400.1 million for the half year, and a reported investment portfolio occupancy of 97.6%.

Experts are also bullish about the share price outlook over the next 12 months. Market Index data shows the majority have a strong buy rating on GPT Group shares, and the $5.33 average target price implies an upside of around 19%, at the time of writing,

JB Hi-Fi shares

JB Hi-Fi shares are also down around 2% in Thursday lunchtime trade, and changing hands at a two-year low of $64.70 at the time of writing. Over the past month, the shares have fallen 23%, and they're 33% lower year-to-date.

Consumer discretionary stocks like JB Hi-Fi have come under pressure recently amid market concerns about higher interest rates, inflation, and weaker consumer confidence.

And it looks like the company's FY26 results in late August further dampened confidence. Management posted record revenue of $11.06 billion, up 4.8% from FY25. Meanwhile, EBIT increased 5.8% to $734.4 million. On the bottom line, the company reported a net profit after tax (NPAT) of $489.9 million, up 6% year-on-year. After delivering higher profit, management declared a final fully franked dividend of $1.27 per share.

But looking ahead, JB Hi-Fi said it expects a variable trading environment in the short term but notes ongoing resilience among its brands and flagged that the company saw a slight dip in sales in July. 

Investors were clearly spooked, and analysts also seem on the fence about the share price outlook. Market Index data shows broker ratings are split between a buy and a hold. However, after the latest selloff, the $79.34 average target price now implies 21% potential upside.

The post JB Hi-Fi, GPT Group, Charter Hall shares hit 52-week low: Is there any chance of a rebound? appeared first on The Motley Fool Australia.

Cotality's national Home Value Index fell 0.9% in August, marking a fifth consecutive month of decline and taking national home values 3.6% below the market peak recorded in March.

Property snapshot

According to the report, home value declines spread sharply across Australia's housing market through winter, with home values falling across 93% of capital city suburbs. Every capital city except Darwin has recorded a decline over the past three months.

Tim Lawless, Cotality's Research Director, said the latest figures show the downturn is no longer confined to select markets or higher-value segments. 

What started as a more concentrated easing across higher-value segments has now become a much more generalised softening, with the vast majority of capital city suburbs recording some level of decline.

The proportion of capital city suburbs recording a fall in home values more than doubled through winter, rising from 45.8% in autumn to 93%, highlighting a much broader weakening in housing conditions.

How does this impact real estate shares?

As investors look at these numbers, the important distinction is that falling Australian house prices do not automatically mean all ASX property stocks will suffer.

However, there are some important considerations. 

Firstly, residential developers – these are likely the most vulnerable. 

Companies selling new houses/land can be hit by lower selling prices, slower presales, cancellations and weaker margins. 

If the housing correction continues, these equities are the ones I would be most cautious about.

Looking at REITs, falling residential house prices don't directly determine the value of office, industrial, logistics, retail or healthcare property. 

For REITs, interest rates, bond yields, debt costs, occupancy and rental growth can matter considerably more. 

Finally, property/infrastructure owners with long leases are potentially relatively defensive.

Retail, logistics, healthcare and other assets with strong occupancy and contractual rental increases can continue generating cash flow even while residential property falls. 

Why interest rates are the bigger issue 

While investors may focus on dwelling prices, interest rates are the more important issue at hand. 

The housing decline is partly a consequence of higher borrowing costs, so the same monetary tightening that hurts residential property can hurt listed property. 

Higher rates increase REIT financing costs, which can reduce distributions and funds from operations. 

This can push property valuations lower and ultimately weigh on share prices. 

Based on these factors, the ASX real estate shares that could offer defensive profiles are: 

• Goodman Group (ASX: GMG) – Major exposure to logistics and data centres rather than Australian residential property.
• GPT Group (ASX: GPT) – More diversified across office, retail and logistics and less directly exposed to the residential downturn.

The post Home values decline for a 5th straight month – what does it mean for ASX real estate shares? appeared first on The Motley Fool Australia.

What did The GPT Group report?

• Funds from operations (FFO) of $338.8 million, or 17.7 cents per security
• Adjusted FFO of $263.4 million, with a 12.25 cents per security distribution
• Investment portfolio occupancy reached 97.6%, and net tangible assets per security were $5.61
• Group assets under management grew to $41.6 billion, up 4.6% since December 2025
• Net gearing at 31.5%, with $1.0 billion in liquidity

What else do investors need to know?

The GPT Group's investment portfolio maintained strong momentum, with net property income increasing by 5.8%. Its Wholesale Shopping Centre Fund completed an oversubscribed $697 million equity raise, and a $700 million Asian Term Loan was secured, adding diversity to funding sources.

The group's retail portfolio achieved near full occupancy at 99.8%, while office and logistics portfolios reported solid occupancy rates and positive leasing activity. The development pipeline remains active, with projects such as Rouse Hill Town Centre and Melbourne Central expansions progressing on schedule.

What did The GPT Group management say?

Commenting on the result, GPT's Chief Executive Officer, Russell Proutt, said:

This result reflects the earnings power of the platform we are building, with strong NPI growth reflecting the quality of our assets and active management, while the growing contribution from management earnings reflects our success in attracting investors to deploy alongside us. The development pipeline at Rouse Hill, Melbourne Central and Kemps Creek is also funded and on program.

We remain focused for the balance of the year on the Grosvenor Place lease-up, maintaining strong asset-level performance, ongoing engagement with investors across our platform and disciplined capital allocation to create long-term value for GPT securityholders and investor partners.

What's next for The GPT Group?

Looking ahead, GPT expects to deliver FY26 FFO of roughly 35.4 cents per security—about 4% growth on FY25—and an estimated full-year distribution of 24.5 cps. The group remains committed to its active development pipeline and is focused on maintaining asset performance while engaging investors and managing capital prudently.

Major developments, including Rouse Hill Town Centre, Melbourne Central, and logistics facilities at Kemps Creek, remain firmly on track, with completion of key stages scheduled for late 2026 and beyond.

The GPT Group share price snapshot

The GPT Group share price has underperformed the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a decline of around 4.5%.

View Original Announcement

The post The GPT Group share price on watch after solid 2026 interim earnings and portfolio growth appeared first on The Motley Fool Australia.

What did GPT Group report?

• Group investment portfolio averaged 97.5% occupancy with a 4.5-year weighted average lease expiry (WALE) for the quarter.
• Retail occupancy reached 99.7% as at 31 March 2026, with retail sales up 4.2% and specialty sales up 3.9% on the prior period.
• Office portfolio maintained 92.2% occupancy and a 4.9-year WALE; logistics achieved 98.8% occupancy and a 5.0-year WALE.
• Guidance was reaffirmed for FY 2026: FFO of approximately 35.4 cents per security (around 4% growth) and distributions of 24.5 cents per security.
• The GWSCF equity raise was oversubscribed, securing $610 million in new equity, supporting future fund growth.

What else do investors need to know?

GPT's retail arm saw total moving annual turnover up 4.5% and specialty sales productivity remain high at $13,955 per square metre. April brought a 4.2% jump in retail foot traffic compared to last year, with redevelopments like Rouse Hill Town Centre on schedule for late 2026 completion.

Leasing activity was lively across all verticals. The office team completed 51,400 sqm of leasing over the quarter, with practical completion at 51 Flinders Lane, while logistics pushed forward with seven new deals for a combined 100,400 sqm. Construction continues at Kemps Creek, supporting future growth in logistics.

What's next for GPT Group?

Looking forward, GPT maintains its guidance for the year and continues to invest in development across the logistics and retail portfolios. The successful equity raise supports the group's capacity to pursue future projects and maintain high-quality assets.

Management remains focused on maximising occupancy and improving sales performance, while progressing planned developments and supporting growth across the investment portfolio.

GPT Group share price snapshot

Over the past 12 months, GPT Group shares have risen 3%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 7% over the seme period.

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The post GPT Group delivers March quarter update appeared first on The Motley Fool Australia.

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).

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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.

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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.

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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.

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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.