Financials
360 Capital Group (TGP)
360 Capital Group (TGP) is an ASX-listed investment and funds management group specializing in Australian real estate. The company is currently transitioning its strategy to focus on originating and managing real estate private credit investments. It invests its own capital alongside wholesale investors into a range of property-backed debt opportunities.
Market Cap
A$-1
Shares on Issue
N/A
Price Chart
AI Analysis
360 Capital Group is in a significant phase of strategic transition, having divested numerous direct property and listed equity stakes to pivot towards a pure-play real estate credit business. Recent performance has been characterized by asset sales, capital management initiatives including special dividends and on-market buy-backs, and a focus on simplifying the corporate structure. A key metric for investors is the Net Tangible Assets (NTA) per share, which the market often uses as a baseline for valuation, with the share price frequently trading at a discount to this figure.
The group's growth outlook is entirely dependent on the successful execution of its real estate credit strategy. Future growth will be driven by its ability to originate high-quality, property-backed loans, grow its funds under management (FUM) from wholesale investors, and generate consistent fee and interest income. Key catalysts include the launch of new credit funds, announcements of significant loan originations, and the final divestment of non-core legacy assets, which could unlock further capital for deployment or shareholder returns.
Bull Case
- • Successful execution of the pivot to real estate credit, a sector with strong demand and potentially attractive risk-adjusted returns.
- • The stock often trades at a significant discount to its stated Net Tangible Assets (NTA), offering a potential value opportunity.
- • Experienced management team with a long track record in real estate investment and funds management, increasing the likelihood of a successful transition.
Bear Case
- • Significant execution risk in transforming the business model and competing in the increasingly crowded private credit market.
- • A downturn in the Australian commercial or residential property markets could lead to higher default rates within their loan portfolio.
- • Potential for a 'value trap' if the company fails to close the persistent gap between its share price and NTA.
Recent Announcements
Suspension from Quotation
🚨 Price SensitiveThe company with ticker symbol TGP on the Australian Securities Exchange (ASX) has been suspended from quotation, which may impact investor decisions and market perception. Investors are advised to review their positions in light of this development for potential action.
Change of Director's Interest Notice
Final Director's Interest Notice
Retirement of Non-Executive Director
Response to Compulsory Acquisition
FAQs
What does TGP do?
360 Capital Group is an Australian real estate investment and funds management company. It is currently shifting its focus from holding direct property assets to originating and managing a portfolio of real estate loans, effectively becoming a specialist non-bank lender in the property sector.
Is TGP a good investment?
TGP is considered a special situation investment. The potential upside is linked to management successfully executing its transition into a real estate credit provider and closing the historical discount between its share price and asset backing. However, risks include competition in the private credit space and potential downturns in the property market impacting loan performance.
What drives TGP's share price?
TGP's share price is primarily driven by its Net Tangible Assets (NTA) per share, its dividend and capital return policy, and market confidence in its ability to profitably deploy capital into its new real estate credit strategy. Growth in Funds Under Management (FUM) and the performance of its underlying loan book are also key drivers.
Key Metrics
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