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
Like everyone else in the REIT sector, asset sales would be...
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Last
$4.63 |
Change
-0.010(0.22%) |
Mkt cap ! $8.869B | |||
| Open | High | Low | Value | Volume |
| $4.65 | $4.69 | $4.61 | $16.61M | 3.583M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 49594 | $4.62 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.64 | 32376 | 1 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| GPT (ASX) Chart |