GPT Distribution Forecast: Impact on Australian Property Owners

GPT Distribution Forecast: Lower Payout Expected in 2024 Amidst Rising Interest Rates

GPT, one of Australia’s leading property owners, has projected a lower distribution for 2024 as it grapples with the impact of elevated interest rates. The company expects a payout of 24.0 Australian cents per security, down from 25.0 cents in 2023, as it cited the effects of higher interest rates, a reduction in the payout ratio from the GPT Wholesale Office Fund, and an anticipated increase in lease incentives to attract tenants to its offices.