GOZ – Credit Suisse rates the stock as Neutral
Target price rises to $4.36 from $4.22. Neutral rating retained.
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Growthpoint Properties Australia
Growthpoint Properties Australia is a publicly-traded ASX listed A-REIT (ASX Code: GOZ) that specialises in the ownership and management of quality investment property. Growthpoint owns interests in a diversified portfolio of 57 office and industrial properties throughout Australia valued at approximately $4.0 billion and has an investment mandate to invest in office, industrial and retail property sectors.
Growthpoint is included in the S&P/ASX 200 Index and has been issued with an investment-grade rating of Baa2 for senior secured debt by Moody’s. Growthpoint aims to grow its portfolio over time and diversify its property investment by asset class, geography and tenant exposure through individual property acquisitions, portfolio transactions and corporate activity (M&A transactions) as opportunities arise.
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Analyst Views
GOZ – Credit Suisse rates the stock as Neutral
Target price inches up 1c to $4.22 from $4.21. Neutral rating retained.
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GOZ – Macquarie rates the stock as Neutral
Bunnings ((WES)) has leased 71% of the Growthpoint Properties Botanicca 3 asset for 10 years and seven months with rents and incentives in line with the market.
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GOZ – Credit Suisse rates the stock as Outperform
Management has indicated that earnings to date have not been materially affected by the pandemic. The total amount of rent waved over the three months period is less than $1m.
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