GMG - Goodman Group

[peter2]

Sold what I was hoping to be a reasonably safe medium term position. REITs seem to be reacting to RBA decision.

 

[finicky]

Not liking the long term monthly chart; would be surprised to see this rising flag development resolve positively. I'm not a chart purist so I might have been influenced by the compulsory revelation from a director that he has disposed of $20m worth of shares into the market when we're in sight of the close of the financial year. There is no suggestion here of trading with privileged knowledge, this class of society often demonstrate their superior intelligence by selling out at tops, it's just Darwinism.

I took time out my busy schedule to read some of this thread, focusing on the period of the GFC when some astute posters like @Snakey were confidently buying after the price was lifting off The Low of like 13c!
The fears to overcome back then were primarily about debt levels and refinancing of maturing debt. Remember when wholesale credit markets seized up? Of course their were doubts about the economy's resilience as well and the prospect for a REIT investing in warehousing.

Not Held

ALL DATA MONTHLY

 

[Knobby22]

Not liking the long term monthly chart; would be surprised to see this rising flag development resolve positively. I'm not a chart purist so I might have been influenced by the compulsory revelation from a director that he has disposed of $20m worth of shares into the market when we're in sight of the close of the financial year. There is no suggestion here of trading with privileged knowledge, this class of society often demonstrate their superior intelligence by selling out at tops, it's just Darwinism.

I took time out my busy schedule to read some of this thread, focusing on the period of the GFC when some astute posters like @Snakey were confidently buying after the price was lifting off The Low of like 13c!
The fears to overcome back then were primarily about debt levels and refinancing of maturing debt. Remember when wholesale credit markets seized up? Of course their were doubts about the economy's resilience as well and the prospect for a REIT investing in warehousing.

Not Held

ALL DATA MONTHLY
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Very good company but I agree. Not the time to hold.

 

[frugal.rock]

Fraud suspect selling $250m in real estate

The sell down of Sydney development sites by developer Jean Nassif has created prime opportunities for logistics giant Goodman and build-to-rent player Greystar.

www.afr.com

 

[Knobby22]

Fraud suspect selling $250m in real estate

The sell down of Sydney development sites by developer Jean Nassif has created prime opportunities for logistics giant Goodman and build-to-rent player Greystar.

www.afr.com

Behind paywall but is $250mil in prime real estate actually a big amount?

 

[frugal.rock]

It's big to me, I've only got $3.50

AFR must know I'm a porper in a torper, I'm not subscribed, but sometimes their articles work for me... ?

 

[Knobby22]

It's big to me, I've only got $3.50

AFR must know I'm a porper in a torper, I'm not subscribed, but sometimes their articles work for me... ?

They broke the PWC thing. Sometimes I buy the weekend edition. I am a bit broke too. Nearly finished off my home loan, then I can stop dabbling and get real again.

 

[finicky]

Another call I'm going to retreat from (as I did with BSL), as short term it could be breaking out from an expanding triangle or pennant, resistance to be overcome at 20.50. If that happens I would then expect $21 with a chance of breaking that level of super resistance and competing a sort of 'mirror reversal'.
So ball's in the air.

DAILY

 

[Dona Ferentes]

It's big to me, I've only got $3.50

And AFR is now $5.00 for weekend edition.

Sometimes their articles work for me... ?

Essence of the story; no, it buys a block of 'tightly held' and 'sought after' land

Goodman has swooped on another site held by Mr Nassif, at 146 and 154 O’Riordan Street in Mascot, which went to market in March through Colliers with expectations of $100 million.

The 1.64 hectare parcel is well-suited to multi-storey warehousing, an emerging development trend in logistics to maximise the value of sites in land-constrained markets.

Mr Nassif secured a permit at the Mascot site for 96 hotel rooms and 444 serviced apartments with a 22-metre height limit. But about half of the site could be developed up to a height of 44 metres under a different proposal, which could, if approved, increase the gross floor area to more than 49,000 sq m.

 

[Dona Ferentes]

Data centres account for about one-third of the Goodman’s $13 billion work-in-progress development pipeline, with projects around the world. One close to home is the old ABC site in Artarmon in Sydney’s inner north, which Goodman purchased for $95 million earlier this year.

Data centres are hot property globally, and are attracting private equity and infrastructure investor money. There are a few ways Goodman’s entry into the sector could play out: is it a developer, operator, long-term investor, fund manager, or a combination of the lot?

- need to line up power supplies, and customers. Build and they will come?

 

[Dona Ferentes]

Very good company but I agree. Not the time to hold.

YTD ... wall of worry.

Goodman Group is a developer, owner, and manager of logistics real estate around the world, with a presence in key growth cities globally.

It is the largest listed property fund manager in Australia with $76 billion of external assets under management and a strong portfolio of assets near big cities.

Key to its attraction is leverage to long-term global trends like the growth of e-commerce, near- and on-shoring, and continued urbanisation. Early last year, concerns arose that interest rates were putting pressure on property companies’ valuations, balance sheets, and also distributions.

But the strengths inherent to Goodman’s model are based on multiple factors — the macroeconomic strength of the logistics warehousing space and Goodman’s development-driven growth model, strong balance sheet and excellent management team

Consumer desire for next day or same day delivery pushes warehouses into the cities. For a logistics company, your cost of delivering a product is much bigger than your rent. So, you can pay more rent to be closer to your end customers.

At the same time, warehouse automation has resulted in older warehouses being not fit for purpose — facilities need higher ceilings and bigger bays. This has pushed occupancy to record highs.

Goodman’s portfolio is especially leveraged to these trends because management has consciously pruned and recycled its portfolio to placing its assets near big cities. Today, Goodman’s property portfolios are 99% occupied and saw like-for-like net property income growth of 4.7% in 2023.

More recently, Goodman has started repurposing some logistics buildings as data centres where returns are more attractive than traditional logistics.

 

[bk1]

It's been said by smarter than me, but have you seen anything this good this year?
Consistent buying by the smart money.
As a proxy to AI its as good as it gets in Australia..

 

[VolatilityBlake]

It's been said by smarter than me, but have you seen anything this good this year?
Consistent buying by the smart money.
As a proxy to AI its as good as it gets in Australia..

Been a great returner over the last 12 months; not too many large caps move like this. No reason for it to slow down either. Big tailwinds, anticipation of falling interest rates + building the infrastructure for arguably the hottest industry. Proof of Data Centre building success could be a huge win for this business in securing more contracts.

Is this another example of shovels to the gold rush? Or is it more the land on which the shovels are created to develop new tech? Definitely a benefit in there either way.

 

[bk1]

I am always on the lookout on the charts when the dynamic EMA "squeezes" up to the blue 50 day MA.
Ideal entry point...again.

 

[Dona Ferentes]

results out . A $68 billion MC.

Although it still makes all its money developing and managing logistics parks and big warehouses, all anyone wanted to talk about at its results on Thursday was data centres.....

The analyst call was full of data centre-related questions – pipeline, approval processes, cost to build – and Goodman Group mentioned “data centre” 64 times in its annual report, up from seven last year and none the year before. Two of the most prominent pictures in its investor presentation were data centre renders of sites in Sydney and Frankfurt....