Australia's retail and office markets have struggled in recent years - GPT's shares crashed during the GFC - but the company is seeing some signs of recovery...

Australia's retail and office markets have struggled in recent years - GPT's shares crashed during the GFC - but the company is seeing some signs of recovery in both. When handing down its interim results in August, it posted a net profit after tax of $240.6 million, a fall of 6.4 per cent. The result was affected by asset sales and negative derivatives movements but it was better than market expectations, and earnings per security grew 4.5 per cent. The company says it is on track to deliver on its strategy, and should report a solid full-year EPS growth of at least 3 per cent and achieve a total return target of 9 per cent. That performance, along with its leverage to a recovery in the east coast retail and office markets, the potential of its funds management operations, and solid yield makes it attractive to dividend investors. (VIEW LINK)