2018 results were in line with guidance. Morgans observes occupancy in the year to date is up around 2% but excess supply continues to make for a challenging market.
The company has reiterated a medium-term occupancy target of 81%. Morgans downgrades to Hold from Add as the total shareholder returns are under 10%. Target is raised to $3.16 from $3.04.
Sector: Consumer Services.
Target price is $3.16.Current Price is $3.16. Difference: $0.00 – (brackets indicate current price is over target). If GEM meets the Morgans target it will return approximately 0% (excluding dividends, fees and charges – negative figures indicate an expected loss).
