Australian fund manager GPT's retail business continues to perform well amid stable demand - Citi
** Australian fund manager GPT Group's GPT.AX retail business continues to perform well; company is in a position to charge more for its spaces, amid stable demand for its properties - Citi analysts
** Brokerage says stores in GPT's properties spending less of their sales on rent than they ever did before
** Despite a slight decrease in expected returns on new logistics developments, GPT's warehouse business is thriving with significantly higher lease rates - brokerage
** Citi increases FY24, FY25, and FY26 funds from operations forecasts for GPT by 1.7%, 1.2%, and 0.3%, respectively, incorporating continued momentum in retail and logistics
** Stock up 0.86% this year, as of last close
Reporting by Roushni Nair in Bengaluru
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