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    GPT Group (ASX:GPT) Could Be 13% Undervalued Following Its Fully Leased $200 Million Expansion

    Simply Wall St·10/30/2026 19:24:33
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    GPT Group (ASX:GPT) has opened a A$200 million expansion at Rouse Hill Town Centre, adding 10,500 sqm of fully leased retail space with more than 50 new retailers and four mini majors.

    Against that backdrop, GPT Group’s momentum has picked up in the short term, with a 1-month share price return of 6.78% and a 7-day gain of 2.74%. However, the share price is still down 10.62% year to date and the 1-year total shareholder return has declined 4.68%, while 3-year and 5-year total shareholder returns of 46.06% and 21.42% point to a stronger longer run for investors.

    Scan beyond GPT Group and see how other real estate and income-focused plays stack up in our hand-picked 4 dividend fortresses.

    GPT Group has a large, established property portfolio and fresh leasing success at Rouse Hill, yet the share price is still lagging on a 1-year view. Is the recent bounce enough to consider the stock fairly valued today?

    Most Popular Narrative: 13% Undervalued

    At A$4.88, GPT Group trades below a narrative fair value of A$5.608, so the current price sits at a clear discount to that estimate.

    At A$5.608 per share, GPT Group (ASX: GPT) appears reasonably valued based on its current property portfolio and FY26 earnings guidance. GPT has forecast FY26 funds from operations (FFO) of approximately 35.4 cents per share, representing growth of around 4% from the 34.0 cents generated in 2025. This gives a forward price-to-FFO ratio of approximately 15.8 times at the assessed price.

    See why 1 investors see GPT Group as 13% undervalued.

    Result: Fair Value of A$5.608 (UNDERVALUED)

    Still, higher interest costs and softer office occupancy, including at Grosvenor Place, could pressure GPT Group’s earnings assumptions and challenge the current undervaluation case.

    Find out about the key risks to this GPT Group narrative.

    Next Steps

    Mixed signals around GPT Group can spark debate, so consider reviewing the underlying data for yourself and weighing both sides of the story with the 4 key rewards and 4 important warning signs.

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    Do not stop your research with GPT Group alone. The right watchlist can change your results, so treat this as the start of your next round of ideas.