Actually, GMG should trade higher than its NTA because of its massive property funds management business which is far greater than the portfolio of properties held on its books.
A better comparison would be a fund manager such as Platinum and BT whereby there NTA is close to nil but the management rights to the various funds they administer are worth a lot of money.
If you add that to the discounted value of a straight vanilla property trust you can see why in the past GMG has traded well above its NTA.
details, page-24
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Last
$36.96 |
Change
-0.125(0.34%) |
Mkt cap ! $70.49B | |||
| Open | High | Low | Value | Volume |
| $37.00 | $37.09 | $36.62 | $21.87M | 593.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 150 | $36.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $36.96 | 13 | 1 |
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| Last trade - 11.28am 02/10/2024 (20 minute delay) ? |
| GMG (ASX) Chart |