Normal
REIT shares took a hit accross the sector and GPT was no exception. The Nuclear crisis in Japan meant that a lot of investors were spooked into selling out and seeking safety in cash or bonds. GPT was slapped down to the low $2.90's but showed resiliance to recover to close at $2.97 (after tapping $2.99 before the close of normal trading).It would be too bold a call for me to suggest where the share price may go next week. The Japanese nuclear reactor crisis has further to run and there may be more offshore investors pulling their money out of Australian REIT's next week. Then again for every seller there has been a buyer and local investors may be stepping in to buy up a share that is trading at significant discount to NTA.
REIT shares took a hit accross the sector and GPT was no exception. The Nuclear crisis in Japan meant that a lot of investors were spooked into selling out and seeking safety in cash or bonds. GPT was slapped down to the low $2.90's but showed resiliance to recover to close at $2.97 (after tapping $2.99 before the close of normal trading).
It would be too bold a call for me to suggest where the share price may go next week. The Japanese nuclear reactor crisis has further to run and there may be more offshore investors pulling their money out of Australian REIT's next week. Then again for every seller there has been a buyer and local investors may be stepping in to buy up a share that is trading at significant discount to NTA.
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