Rental Growth Prospects Have Improved. We Raise Goodman’s FVE to AUD 7.90
We’ve increased our fair value estimate for narrow moat-rated Goodman Group by 5% to AUD 7.90 with the stock still screening as slightly overvalued, currently trading around AUD 8.50. Factors driving the earnings and fair value upgrade include higher-than-expected performance fees and raised rental growth expectations. The higher rental growth expectations stem from Goodman and its co-investment vehicles having now sold in excess of AUD 2 billion of assets that Goodman assessed to have inferior ...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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