We switched to GPT from Goodman Group (GMG) at the start of the month, a contentious move at the time, but it has at least worked through a volatile August. GPT has actually been positive over the last week, and although a few days doesn’t justify a purchase, it is demonstrating that high-yielding rate-sensitive names are in demand, with central banks poised to commence cutting interest rates.
- We continue to initially target a retest of the $5.20 area, or +13% higher – MM owns GPT in its Active Growth Portfolio.
NB GPT reports on the 19th August.
MM is long and bullish GPT
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