I agree having a JV with the very dodgee BNB does not help. GPT have done well to diminish the influence that BNB have over the JV in terms of management fees and other terms. There should be some savage value for GPT if there were to walk away, if not then it would still decrease our gearing levels as we don’t have the $5b of debt carrying on our shoulders due to the JV, but that also means that we blew $2b of equity, however GPT have loss almost $8B in Market Cap from its all time high.
I’m still in, not about to jump ships yet as they still have amble interest rate coverage and a dominant share in the still strong Australian Office market.
GPT is not heavily reliant on Debt in the short term, and they have top quality assets that they can sell to pay of debt if they absolutely have to.
GL all, light at the end of the tunnel
I agree having a JV with the very dodgee BNB does not help. GPT...
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Last
$4.00 |
Change
-0.010(0.25%) |
Mkt cap ! $7.662B | |||
| Open | High | Low | Value | Volume |
| $4.09 | $4.11 | $4.00 | $33.85M | 8.421M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 342542 | $3.99 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.01 | 47783 | 3 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| GPT (ASX) Chart |