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Goodman Group - Stock Quote GMG

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Morningstar's Goodman Group Stock Analysis

Valuation
Currency in AUD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

No Surprises From Goodman’s Third Quarter. AUD 17.20 FVE Maintained.

Alexander Prineas Equity Analyst

Analyst Note

| Alexander Prineas |

We maintain our AUD 17.20 fair value estimate for narrow-moat Goodman group following a largely-as-expected third-quarter update. Management confirmed EPS and DPS guidance, in line with our full-year distribution forecast of AUD 0.30 per share.

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Goodman Group's Company Profile

Business Description

Goodman Group develops and manages industrial property investments worldwide. Rather than taking all risks on its own balance sheet, most Goodman developments are on behalf of end-user tenants, and funds management clients. A typical deal involves purchasing land for a tenant who wants to occupy the site, and/or an investor who will own the asset via a Goodman investment vehicle. Goodman charges leasing fees for locking in tenants, and fees for managing the development. Completed projects reside in Goodman investment vehicles, and Goodman charges asset and investment management fees to investors, in return for collecting rent and managing the site. Goodman retains a minority stake in many projects, generating rental income and aligning its own interests with its funds management clients.

Contact
1-11 Hayes Road, The Hayesbery
Sydney, NSW, 2018, Australia
T +61 292307400
Sector Real Estate
Industry REIT - Diversified
Most Recent Earnings
Fiscal Year End Jun 30, 2022
Stock Type
Employees 1,240

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