Goodman Group (GMG) is a global integrated property group with operations throughout Australia, New Zealand, Asia, Europe, the United Kingdom, North America and Brazil. GMG comprised of the stapled entities Goodman Limited, Goodman Industrial Trust and Goodman Logistics (HK) Limited. GMG operates four divisions namely Property Investment, Fund Management, Property Services and Property Development.
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Equity Real Estate Investment Trusts (REITs)
What does Goodman Group (GMG) do?
'If you build it, they will come.' Goodman Group is a specialist, integrated property group that owns, develops and manages “high-quality, sustainable properties that are close to consumers and provide essential infrastructure for the digital economy”.
With over 900 employees and 28 office locations in 14 countries, the company services over 1,700 customers globally by undertaking:
Property investment activities (through direct ownership and cornerstone investments in associates and joint ventures)
Management activities (both investment and property management)
Development activities (including development of directly owned assets and management of development activities on behalf of associates and in joint ventures)
The company earns and reports revenue on a geographic basis. The segments are:
Australia and New Zealand
Asia (including Greater China and Japan)
Continental Europe (primarily Germany and France)
Americas (North America and Brazil).
Goodman currently has 396 properties under management with a 98.4% occupancy rate, globally. The company’s assets under management total A$68.2b. It also has another A$12.7b worth of developments in progress.
Is Goodman Group a profitable company?
Yes, Goodman is profitable. The company’s net income has been reasonably consistent the past four financial years.
In FY2018, the company earned a net income of $1.01b. In FY2019, net income leapt up to $1.63b. It dropped slightly in FY2020 to $1.5b but shot right back up in FY2021 to $2.3b.
As of FY2021, the company had a free cash flow of A$1.11b on its books.
Is GMG stock a buy?
Between January and May 2022, GMG stock price has declined by over 28%, from a 52-week high of $26.96 to under $19.
For some investors, the fall in the GMG share price may present a long-term buy and hold opportunity. This is especially due to an increasing demand for industrial property and logistics spaces driven by the growth of digital economies around the world.
Bearish investors may dismiss GMG stock due to its price weakness and current macroeconomic factors, in particular rising interest rates and inflationary pressures.
Does GMG stock pay dividends?
Yes, GMG stock pays dividends to its shareholders, usually twice a year. Goodman started distributing dividends since 2005 and hasn’t stopped since.
In 2021, Goodman paid a dividend of $0.15 per share in February and August. The company paid out another $0.15 per share in February 2022.
To see all of GMG’s dividend history, click here.
Who owns GMG stock?
The general public and institutional investors own almost the same amount of GMG stock, holding 43.5% and 43.3% of the total float, respectively. Sovereign wealth funds follow with a holding of 8.9%. The remaining GMG stock is held by individual insiders and private companies.
Some of the largest holders of GMG stock include The Vanguard Group (8.97%), China Investment Corporation (8.93%), BlackRock (7.36%), State Street Global Advisors (5.35%), AMP Capital Investors Limited (2.84%), Colonial First State Investments Limited (1.81%), Dimensional Fund Advisors LP (1.76%), Capital Research and Management Company (1.67%), Norges Bank Investment Management (1.46%).
As an individual, Goodman CEO Gregory Goodman holds 2.07% of the float. He also owns 2.02% of Goodman via his private company, Goodman Holdings.
How do I buy GMG stock?
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This does not constitute financial advice. You should do your own research before making an investment decision. Past performance is not a reliable indication of future performance. No representation is made as to the timeliness, reliability, accuracy or completeness of the market data provided.