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GPT Group delivers March quarter update

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The GPT Group (ASX: GPT) share price is in focus after the company delivered its March quarter update, maintaining high occupancy across retail, office, and logistics, and reaffirming its FY 2026 guidance.

What did GPT Group report?

  • Group investment portfolio averaged 97.5% occupancy with a 4.5-year weighted average lease expiry (WALE) for the quarter.
  • Retail occupancy reached 99.7% as at 31 March 2026, with retail sales up 4.2% and specialty sales up 3.9% on the prior period.
  • Office portfolio maintained 92.2% occupancy and a 4.9-year WALE; logistics achieved 98.8% occupancy and a 5.0-year WALE.
  • Guidance was reaffirmed for FY 2026: FFO of approximately 35.4 cents per security (around 4% growth) and distributions of 24.5 cents per security.
  • The GWSCF equity raise was oversubscribed, securing $610 million in new equity, supporting future fund growth.

What else do investors need to know?

GPT’s retail arm saw total moving annual turnover up 4.5% and specialty sales productivity remain high at $13,955 per square metre. April brought a 4.2% jump in retail foot traffic compared to last year, with redevelopments like Rouse Hill Town Centre on schedule for late 2026 completion.

Leasing activity was lively across all verticals. The office team completed 51,400 sqm of leasing over the quarter, with practical completion at 51 Flinders Lane, while logistics pushed forward with seven new deals for a combined 100,400 sqm. Construction continues at Kemps Creek, supporting future growth in logistics.

What’s next for GPT Group?

Looking forward, GPT maintains its guidance for the year and continues to invest in development across the logistics and retail portfolios. The successful equity raise supports the group’s capacity to pursue future projects and maintain high-quality assets.

Management remains focused on maximising occupancy and improving sales performance, while progressing planned developments and supporting growth across the investment portfolio.

GPT Group share price snapshot

Over the past 12 months, GPT Group shares have risen 3%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 7% over the seme period.

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The post GPT Group delivers March quarter update appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

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