Most of the shareholders in GPT have held for a longer term [i.e. 3+ years] - and these investors will all still be in a loss making position at the moment.
The stock is back at $3.00 odd... but only after hitting investors for two capital raising pitches - 60c and 35c if I remember correctly... - anyone who was a holder and did not take advantage of the capital raising is in an even worse position..... to put it in to context, between 2000 - 2005 the stock hovered at around the current share price.
From 2005 - 2008 the stock hit the $4 - $5 range.
For those that bought in the last 3-10 years, it is at best a neutral story and likely a loss story.
The dividend yield is relevant to most holders - it is the only reason to hold the stock, along with a modest chance of capital upside - and the risk seen in this stock, where its value has see-sawed by up to 80% swings or so - is quite high. In my view the yield + upside in capital gain is not great enough to hold. THen again, confusing this - is that most of hte bad news is behind this company and it has 2-3 large holders on its registry that haveunashamedly expressed their interest in acquiring the company.
In my view, this is the most likely scenario for significant capital upside.
I fear that should the housing market or banking market turn, GPT will fall victim with it. I am looking for an opportunity to exit my considerably large holdings in this company.
Feens.
GPT Price at posting:
$3.02 Sentiment: Sell Disclosure: Held
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