GMG - Goodman Group

[divs4ever]

Most definitely. All the DC stock charts are looking sick. GMG - down, NXT - down, MAQ - down, IFT - down.

I've read reports that MSFT has been cancelling advanced bookings of DC services.

i preferred REITs that focus on ordinary ( industrial ) sheds ( which can be used as data centres using some low power consumption strategies)

dedicated data centres ( using high power consumption ) are very costly to remove/reuse for general tenants ( should the demand for DCs wane or flat-line )

sure the comparison of strategies is like comparing a Tesla with a mobility scooter .. but sometimes a mobility scooter is all you really need

 

[Dona Ferentes]

$32.80

Operational Update

“Long-term structural demand drivers are intact, however, the uncertain economic and trade environment is delaying customer decisions in the logistics space. Desire for modern, sustainable, logistics facilities in central locations, where automation can improve productivity continues. Space is scarce in our markets, and supply in our locations remains limited.

"In the data centre space, we continue to see significant capex growth from hyperscale operators as they work to meet rising demand for cloud and AI services. With a globally diverse portfolio of identified development opportunities and a 5GW power bank concentrated in low latency, metropolitan areas, the Group is well placed to support these growing requirements.

"We are using this time to take advantage of the current market by acquiring large-scale sites which will be future long-term regeneration opportunities. Goodman has substantial available liquidity of $6.3bn to execute our program and we continue to work with major infrastructure and real estate investors to provide long-term capital. Our team around the world is focused on execution to deliver the significant opportunity we have before us”.
- Greg Goodman, Group CEO

As at 31 March 2025
+ $13.7 billion of development work in progress across 66 projects
+ Data centres represent >50% of WIP
+ 4.5% like-for-like annual net property income growth on properties in our Partnerships
+ 96.5% occupancy across the Partnerships
+ $85.8 billion total property portfolio
+ Reaffirm FY25 forecast Operating EPS growth of 9%.

 

[bk1]

A good finish to the week on Friday with huge relative volume.
However, SP is still below the institutional placement of late Feb.
NVDA and MSFT both reiterated data centre and cloud demand and GMG have re affirmed guidance.
I can't get enthused below 3.55 (the placement price).