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9 stories mentioning ASX:GPTUpdated 13d ago

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International

Data Points to Australian Labor Market Changing More in Shape Than Size Due to AI Impact, Jarden Says

The impact of artificial intelligence (AI) on the Australian labor market has been small so far, but the landscape is quickly rapidly, with the data pointing to the labor market changing in shape more than size, Jarden said in a report on Thursday.Deloitte Access Economics' Employment Forecasts report shows that so far, there is no observable divergence in employment growth between AI-disrupted and other occupations since AI emerged in 2022. It flagged a possible near-term inflationary impact from AI infrastructure investment, before any later disinflationary efficiency gain shows through.Occupations disrupted by AI are projected to grow by around 167,200 fewer workers over five years. Industry exposure is concentrated in financial, professional, scientific, and technical services, as well as information media.The Department of Employment and Workplace Relations' (DEWR) AI and Employment in Australia report found that employment in the most AI-exposed occupations grew 5.6% since Nov. 2022, compared with 9.5% in the least-exposed occupations. By February, employment sat around 2% below where the trend from before the launch of ChatGPT would have placed it.However, US data shows disruption at both junior and senior levels, with particular concern around entry-level roles.AI is expected to differentiate performance within the office real estate sector, with non-core suburban and metro markets at most risk, while premium-grade central business district assets forecast to prove relatively more resilient.Among real estate investment trusts, Dexus (ASX:DXS) carries the highest core-market weighting at 53%, ahead of GPT Group (ASX:GPT) at 31% as well as Mirvac (ASX:MGR) at 20%, positioning them comparatively better than portfolios skewed to secondary, non-core stock.Proposed national AI standards are expected to add costs for data center developers, but also bring faster approvals and greater certainty.

ASX 200ASX:DXSASX:GPTASX:MGR
Asia

GPT Group Discloses Masia as Flagship Hospitality Venue at 51 Flinders Lane Development

GPT Group (ASX:GPT) said Tuesday Renascence Group has disclosed Masia as its new flagship hospitality venue at GPT's 51 Flinders Lane development, the first hospitality venue at the precinct, ahead of its opening later this year.The company said in a statement that Masia will become an addition to Melbourne's Flinders Lane culinary corridor, occupying a "prominent" position as the anchor venue in the new pedestrian laneway connecting Flinders Street and Flinders Lane within the ground floor precinct of GPT's landmark dual office tower development.The precinct will include a range of day-to-evening casual and fine dining outlets, it added.

ASX:GPT
Asia

GPT Group Declares Higher Dividend

GPT Group (ASX:GPT) declared a dividend of AU$0.1225 per share for the six months ending June 30, according to an Australian bourse filing on June 19 after market hours.The dividend will be paid on Aug. 31 to holders of record as of June 30, the filing said.The company paid a dividend of AU$0.12 per share in the prior corresponding period, an earlier filing showed.

ASX:GPT
Asia

GPT Group's Wholesale Shopping Centre Fund Acquires 50% Stakes in Two Retail Assets

GPT Group (ASX:GPT) said its wholesale shopping center fund (GWSCF) agreed to acquire 50% interests in Sunshine Plaza in Maroochydore, Queensland, and Macarthur Square in Campbelltown, New South Wales, from the Lendlease Group (ASX:LLC)-managed Australian prime property fund, according to a Monday filing with the Australian bourse.The acquisitions include AU$622 million for the Sunshine Plaza stake and AU$568 million for the Macarthur Square stake, excluding transaction costs, per the filing.The company and GWSCF will each hold a 50% interest in Sunshine Plaza upon completion, while GWSCF will own 100% of Macarthur Square.The acquisitions will be funded via GWSCF's oversubscribed equity raise and existing debt capacity, with completion expected in July, subject to customary conditions and approvals, the filing said.The company will continue to manage leasing, property operations, and development activities for both assets, the filing added.GPT Group's shares gained about 1% in recent Monday trade.

ASX:GPTASX:LLC
Asia

GPT Group Reports Nearly 98% Investment Portfolio Average Occupancy in March Quarter

GPT Group (ASX:GPT) reported group investment portfolio average occupancy of about 98%, and a weighted average lease expiry (WALE) of 4.5 years for the quarter ended March 31, according to a Wednesday filing with the Australian bourse.Retail investment portfolio occupancy was close to 100%, with a WALE of 3.8 years, while total center sales were up 4.2%, and total specialty sales increased 3.9% on the previous corresponding period, the filing said.The company reaffirmed its fiscal 2026 guidance of funds from operations of about AU$0.354 per security and distribution of AU$0.245 per security, per the filing.

ASX:GPT
Wire

GPT Group Says BlackRock Increases Stake

GPT Group (ASX:GPT) said BlackRock Group and its subsidiaries have increased their stake in the company on Wednesday to 7.34% or 140.6 million shares from 6.3% or 120.7 million shares, according to a Friday Australian bourse filing.

ASX:GPT
Asia

GPT Group's Oversubscribed AU$610 Million Raise to Support Growth Initiatives, No Immediate Earnings Boost, Says Jefferies

GPT Group's (ASX:GPT) AU$610 million oversubscribed capital raise for its retail fund signals robust investor demand and an increased tempo of growth initiatives, even as it is expected to not result in immediate earnings boost, Jefferies said in a note on Thursday.The raise exceeded its original target of AU$500 million for the GPT Wholesale Shopping Centre Fund, in which GPT holds a 33.3% stake, reflecting continued confidence in large-scale retail assets amid a limited supply outlook for regional and sub-regional retail space.The investment firm said the earnings impact from the raise is modest, amounting to roughly 0.4% accretion when fully deployed, but it increases future investment capacity coupled with borrowing, to about AU$820 million.Jefferies maintained a hold rating but raised its price target by 9% to AU$5.04.

ASX:GPT
Asia

GPT Group Completes Oversubscribed AU$610 million GWSCF Equity Raise

GPT Group (ASX:GPT) has confirmed the close of its GPT wholesale shopping center fund (GWSCF) equity raise, which attracted strong investor demand and was capped at around AU$610 million, surpassing its original AU$500 million target, according to a Thursday filing with the Australian bourse.The funds will be used to support its future growth initiatives, the filing added.The company's shares fell around 1% in recent Thursday trade.

ASX:GPT
Japan

ASX Midday Sector Update: Real Estate Stocks Marginally Higher, Information Technology Falls

Real estate stocks were marginally higher in midday trading Friday, as all other sectors flashed red amid continued uncertainty surrounding the US-Iran ceasefire and the passage of oil through the Strait of Hormuz.Shares of GPT Group (ASX:GPT) rose less than 1% after the company said it continues to expect full-year 2026 funds from operations of about AU$0.354 per security, representing growth of roughly 4%.Information technology stocks fell 3% to lead broader declines, followed closely by energy stocks, which were down 2%.NOVONIX (ASX:NVX) was up almost 4% after saying the US Government has certified its Riverside project in connection with $103 million in tax credits previously allocated under the Advanced Energy Project Credit Program.

ASX 200ASX:GPTASX:NVX

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