Goodman Group

Goodman Group is engaged in owning, developing and managing industrial property and business space in primary markets around the world. The principal activities of Co. are investment in directly and indirectly held industrial property, property services, property development (including development management) and investment management. The principal markets in which Co. operates in are Australia and New Zealand, Asia, Continental Europe, the U.K. and the Americas.
  • TickerGMG
  • ISINAU000000GMG2
  • ExchangeAustralian Securities Exchange
  • SectorReal Estate Investment Trusts
  • CountryAustralia

Analysts

1 director sold

A director at Goodman Group sold 41,000 shares at 14.909AUD and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board ...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Developed Markets Stocks

Favor EAFE over EM The U.S. dollar remains elevated and as long as this remains the case we believe developed international equities (EAFE) will continue to outperform relative to emerging markets (MSCI EM)... see charts below. Below we highlight attractive and actionable themes within developed international: • Australia. Australia's All Ordinaries index exhibits bullish price and RS trends, a rarity when it comes to global markets considering most country-specific indexes display neutral or negative price trends. We highlight several Australian names, and would use recent broad market weak...

GOODMAN GROUP sees a downgrade to Neutral on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of GOODMAN GROUP (AU), active in the Real Estate Investment Trusts industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered defensive. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date August 6, 2019, the closing price was AUD 14.36 and its target price was estimated at AUD 13.09.

Johannes Faul

Morningstar | Goodman's Developments to Peak Over the Next Two Years, Buoying Funds Under Management

The substantial yield premium on high-quality industrial property to bonds is a key factor behind strong institutional demand for Goodman-developed product. With an outlook for interest rates to reach exceptionally low levels, we expect sustained institutional demand for industrial property. Goodman has strong growth prospects, but asset value risks are evident. Recent rises in industrial asset values have been facilitated by sharply lower interest rates, particularly given that rent growth rates have stabilised in most regions. The inevitable reversion to long-term average borrowing rates in ...

Johannes Faul

Goodman's Developments to Peak Over the Next Two Years, Buoying Funds Under Management

We confirm our AUD 12 per share fair value estimate for Goodman Group as we transition coverage to a new analyst. Our narrow moat, medium fair value uncertainty, and Standard stewardship ratings are unchanged. At current prices, the stock is trading 15% above our intrinsic valuation. Our fair value estimate implies fiscal 2019 price/earnings of 24 and enterprise value/adjusted EBITDA of 22. Our valuation is derived using a discounted cash flow methodology, using a 9% cost of equity and a weighte...

Goodman Group: Semi-annual update

Our credit view of Goodman reflecting its high quality portfolio of industrial property assets and conservative financial policies.

Goodman Group: Update to rationale

Our credit view of Goodman reflecting its high quality portfolio of industrial property assets and conservative financial policies.

Goodman Group: Update Following Upgrade to Baa1

CORPORATES CREDIT OPINION 26 May 2017 Update RATINGS Goodman Group Domicile Australia Long Term Rating Baa1 Type LT Issuer Rating - Dom Curr Outlook Stable Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Maurice O'Connell 612-9270-8167 VP-Sr Credit Officer [email protected]

Johannes Faul

Morningstar | Goodman's Developments to Peak Over the Next Two Years, Buoying Funds Under Management

The substantial yield premium on high-quality industrial property to bonds is a key factor behind strong institutional demand for Goodman-developed product. With an outlook for interest rates to reach exceptionally low levels, we expect sustained institutional demand for industrial property. Goodman has strong growth prospects, but asset value risks are evident. Recent rises in industrial asset values have been facilitated by sharply lower interest rates, particularly given that rent growth rates have stabilised in most regions. The inevitable reversion to long-term average borrowing rates in ...

Johannes Faul

Goodman's Developments to Peak Over the Next Two Years, Buoying Funds Under Management

We confirm our AUD 12 per share fair value estimate for Goodman Group as we transition coverage to a new analyst. Our narrow moat, medium fair value uncertainty, and Standard stewardship ratings are unchanged. At current prices, the stock is trading 15% above our intrinsic valuation. Our fair value estimate implies fiscal 2019 price/earnings of 24 and enterprise value/adjusted EBITDA of 22. Our valuation is derived using a discounted cash flow methodology, using a 9% cost of equity and a weighte...

Tony Sherlock

Morningstar | Transferring Coverage of Narrow-Moat Goodman Group; Our AUD 12 Fair Value Estimate Is Unchanged

We confirm our AUD 12 per share fair value estimate for Goodman Group as we transition coverage to a new analyst. Our narrow moat, medium fair value uncertainty, and Standard stewardship ratings are unchanged. At current prices, the stock is trading 15% above our intrinsic valuation. Our fair value estimate implies fiscal 2019 price/earnings of 24 and enterprise value/adjusted EBITDA of 22. Our valuation is derived using a discounted cash flow methodology, using a 9% cost of equity and a weighted average cost of capital of 8.0%. Goodman’s narrow economic moat is sourced from switching costs an...

Tony Sherlock

Transferring Coverage of Narrow-Moat Goodman Group; Our AUD 12 Fair Value Estimate Is Unchanged

We confirm our AUD 12 per share fair value estimate for Goodman Group as we transition coverage to a new analyst. Our narrow moat, medium fair value uncertainty, and Standard stewardship ratings are unchanged. At current prices, the stock is trading 15% above our intrinsic valuation. Our fair value estimate implies fiscal 2019 price/earnings of 24 and enterprise value/adjusted EBITDA of 22. Our valuation is derived using a discounted cash flow methodology, using a 9% cost of equity and a weighte...

Tony Sherlock

Morningstar | Search for Yield Remains a Powerful Tailwind for Goodman. FVE Increases 7% to AUD 12

After raising fiscal 2019 earnings guidance to growth of 9.5% from 7% in February, we weren’t expecting any further upgrades as part of the third-quarter update. That said, narrow-moat-rated Goodman provided a mini-upgrade, advising assets under management, or AUM, will exceed AUD 45 billion by June 2019, up by at least AUD 2.1 billion or 4.9% since December 2018 when AUM was AUD 42.9 billion. Part of the uplift will be due to movement of development assets to completed assets, with the balance attributable to further asset value appreciation driven by rent growth and potentially a further red...

1 director sold

A director at Goodman Group sold 41,000 shares at 14.909AUD and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board ...

GOODMAN GROUP sees a downgrade to Neutral on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of GOODMAN GROUP (AU), active in the Real Estate Investment Trusts industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered defensive. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date August 6, 2019, the closing price was AUD 14.36 and its target price was estimated at AUD 13.09.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

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Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Developed Markets Stocks

Favor EAFE over EM The U.S. dollar remains elevated and as long as this remains the case we believe developed international equities (EAFE) will continue to outperform relative to emerging markets (MSCI EM)... see charts below. Below we highlight attractive and actionable themes within developed international: • Australia. Australia's All Ordinaries index exhibits bullish price and RS trends, a rarity when it comes to global markets considering most country-specific indexes display neutral or negative price trends. We highlight several Australian names, and would use recent broad market weak...

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