Perennial Investment Partners has emerged as the buyer of GPT securities in the past few weeks.
The recent hectic trade has been causing tongues to wag about a possible move on the property group, and that talk escalated last week when the stock price was pushed up by as much as 10 per cent in a day.
Perennial yesterday revealed it was the one with open chequebook. It now owns 152.03 million units in GPT, or about 7 per cent, after topping up its stake by 55 million units for between $1.68 and $1.90.
It is thought unlikely that the buying is anything other than an investment for Perennial clients who feel GPT has been hard hit in recent times, but some analysts suggest the buying is a reflection of a "live" register in a stock under pressure.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)