Fund Manager Summary
Growthpoint Properties Australia Ltd (ASX:GOZ) has faced a strategic pivot according to recent commentary from Sterling Managed Investments, who sold their position as part of a broader reevaluation within the REITs sector. While the current low interest rates may provide support for general real estate investments, fund managers emphasize a preference for higher-quality office assets in locations with stronger long-term fundamentals. They highlight the ongoing shifts in office demand driven by return-to-office mandates as a potential opportunity, underscoring a clear focus on operational resilience. However, the changing dynamics of office space utilization pose a risk that could impact growth projections, suggesting that investors should closely monitor market trends and corporate strategies related to these areas.
Source: Trading View
Commentary From The Managers
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Share Price
Summary
Date
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Thesis Tracker gives investors direct access to professional fund-manager commentary on ASX-listed companies, all in one structured database.
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By reporting on thousands of qualitative investment insights, Thesis Tracker helps investors make better decisions beyond just financial metrics.
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Trusted by active, Retail and Professional ASX investors, Thesis Tracker saves research time by surfacing institutional-grade perspectives that are difficult to find elsewhere.
Updates are made available to members within 12 hours of being released. The completeness, accuracy or current status of the investments referenced are not guaranteed.
Commentary From The Managers
Sterling Managed Investments
28 Feb 2025
$2.39
Summary
- Sterling Managed Investments sold their investment in GOZ as part of a reevaluation of their positioning within the REITs sector.
- Lower interest rates may support general real estate, but the fund manager has greater conviction in higher-quality office exposures.
- They prefer assets located in areas with stronger long-term fundamentals.
- The decision reflects ongoing shifts in office demand and the increasing traction of return-to-office mandates.
Endeavor Asset Management
31 July 2024
$2.33
Summary
- Endeavor Asset Management observed a chance to enhance real estate exposure at what appears to be a cyclical low in the commercial real estate market.
- Growthpoint Properties Australia (GOZ), an ASX-300 REIT, is trading at an 8.5% dividend yield and is 36% below forecast tangible book value.
- There is a belief that GOZ presents significant upside potential linked to market recovery and offers adequate income in the meantime.
- GOZ's share price has decreased by 50% from its peak in 2022, with current softening conditions already reflected in the price.
- Growthpoint provides diversified exposure to industrial and office properties, featuring long-duration leases (5+ year WALE).
- Approximately 75-80% of GOZ's portfolio income is derived from reputable high-quality large tenants, including government and listed companies.
The completeness, accuracy or current status of the investments referenced are not guaranteed.
Frequently Asked Questions
Who is investing in Growthpoint Properties Australia Ltd (ASX:GOZ)?
Fund managers including Endeavor Asset Management and Sterling Managed Investments have invested in Growthpoint Properties Australia Ltd (ASX:GOZ).
Why do fund managers invest in Growthpoint Properties Australia Ltd?
Fund managers invest in Growthpoint Properties Australia Ltd due to its strategic positioning in the office real estate sector. The company holds high-quality assets situated in areas with strong long-term fundamentals, making it well-positioned to benefit from return-to-office trends. Additionally, lower interest rates can support real estate investments by enhancing yields. The focus on higher-quality office exposures reflects a calculated risk/reward profile aimed at capitalizing on evolving demand in the property market.
What happened to Growthpoint Properties Australia Ltd (ASX:GOZ)?
There have been no recent updates from fund managers regarding Growthpoint Properties Australia Ltd although fund managers including Endeavor Asset Management and Sterling Managed Investments have previously commented.
What is the short interest in Growthpoint Properties Australia Ltd (ASX:GOZ)?
The short interest in Growthpoint Properties Australia Ltd (ASX:GOZ) is 0.07% which makes it the 433rd most shorted stock on the ASX. Of the 754.3M shares that Growthpoint Properties Australia Ltd has on issue, 564.7K have been sold short.
What does Growthpoint Properties Australia Ltd (ASX:GOZ) do?
Growthpoint Properties Australia Ltd is a real estate investment trust that manages and invests in properties. The company focuses on office, retail, and industrial real estate through its Property Investments, Development Investments, and Funds Management segments. It provides investment management and real estate management services. Established in 1991, it is headquartered in Sydney, Australia.