Like everyone else in the REIT sector, asset sales would be required to keep LVR below prudent 50% in serious asset devaluation. Obviously GPT are working on the European JV to be wound down as their preferred way of reducing debt. Keep in mind the JV is $2B equity and $1.5B debt (GPT share) so it is quite low geared and gives a good debt reduction bang for your buck. ie Full sale of $3.5B portfolio would reduce debt by $3.5B bring LVR back to about 35% AFTER all assets have devalued by 20%!
It is all about prudent sales by REIT at the moment to bring gearing back to 35% look through so to be absolutely confident of buffer should property values tank. Still have to sell assets though:(
cheers
monkey vibes directed solely on gpt today nc, page-107
Add GPT (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$5.09 |
Change
-0.010(0.20%) |
Mkt cap ! $9.750B | |||
| Open | High | Low | Value | Volume |
| $5.12 | $5.14 | $5.08 | $117.6M | 23.05M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 313 | $5.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.10 | 15160 | 3 |
View Market Depth
| Last trade - 16.10pm 10/09/2024 (20 minute delay) ? |
| GPT (ASX) Chart |