2240 GMT - Property manager GPT loses a bull in Jefferies following a vibe shift at its annual shareholder meeting. Analyst Andrew Dodds says GPT offered little detail on its performance this year so far. "However management drew attention to how geopolitical uncertainty, prolonged inflation and higher rates, and the concerns around AI implications on real estate continue to impact sentiment globally," Jefferies says. GPT maintained FY 2026 funds-from-operations guidance of 35.4 Australian cents/share. That was despite Australia's central bank raising interest rates by 25 basis points in March, estimated to have a A$2 million impact on funds from operations. Jefferies drops to hold, from buy. Its price target falls 18% to A$5.04/share. GPT ended last week at A$4.65.(david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 12, 2026 18:40 ET (22:40 GMT)
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