reports
Goodman Property Trust: 1 director
A director at Goodman Property Trust maiden bought 52,428 shares at 2.079NZD and the significance rating of the trade was 71/100. 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 tw...
GOODMAN PROPERTY sees an upgrade to Slightly Positive due to a better ...
The general evaluation of GOODMAN PROPERTY (NZ), a company active in the Real Estate Holding & Development industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 1 out of 4 possible stars while its market behaviour can be considered as defensive. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date February 15, 2022, the clo...
- Adam Fleck
Morningstar | Ceasing Coverage of Goodman Property Trust
We intend to cease coverage on no-moat Goodman Property Trust in July 2019. We periodically adjust our coverage as necessary based on stock outlook, client demand, and investor interest. With the New Zealand economy appearing to be on an upward trajectory, the outlook for market-based rents remains positive for the foreseeable future. We anticipate growth in earnings and distributions in the medium term, with high occupancy levels and rental increases, both fixed and linked to the consumer pric...
- Adam Fleck
Morningstar | Ceasing Coverage of Goodman Property Trust. See Updated ...
We intend to cease coverage on no-moat Goodman Property Trust in July 2019. We periodically adjust our coverage as necessary based on stock outlook, client demand, and investor interest. With the New Zealand economy appearing to be on an upward trajectory, the outlook for market-based rents remains positive for the foreseeable future. We anticipate growth in earnings and distributions in the medium term, with high occupancy levels and rental increases, both fixed and linked to the consumer pric...
- Adam Fleck
Ceasing Coverage of Goodman Property Trust
We intend to cease coverage on no-moat Goodman Property Trust in July 2019. We periodically adjust our coverage as necessary based on stock outlook, client demand, and investor interest. With the New Zealand economy appearing to be on an upward trajectory, the outlook for market-based rents remains positive for the foreseeable future. We anticipate growth in earnings and distributions in the medium term, with high occupancy levels and rental increases, both fixed and linked to the consumer price...
- Adam Fleck
Auckland Industrial Market to Firm Further, Benefiting Goodman
Goodman Property Trust reported fiscal 2019 operating earnings before tax and performance fees of NZD 110.2 million, down on the NZD 119.1 million in the prior year. The NZD 9 million drop in earnings is inconsequential arising from the loss of rental income following the sale of Goodman’s interest in the Viaduct precinct and other smaller assets. Distributions for the year of NZD 6.65 cents per unit represented 95% of cash earnings of NZD 6.95 cpu. However, distributions were 107% of adjusted...
- Tony Sherlock
Morningstar | Auckland Industrial Market to Firm Further, Benefiting G...
Goodman Property Trust reported fiscal 2019 operating earnings before tax and performance fees of NZD 110.2 million, down on the NZD 119.1 million in the prior year. The NZD 9 million drop in earnings is inconsequential arising from the loss of rental income following the sale of Goodman’s interest in the Viaduct precinct and other smaller assets. Distributions for the year of NZD 6.65 cents per unit represented 95% of cash earnings of NZD 6.95 cpu. However, distributions were 107% of adjusted...
- Tony Sherlock
Morningstar | Auckland Industrial Market to Firm Further, Benefiting G...
With the New Zealand economy appearing to be on an upward trajectory, the outlook for market-based rents remains positive for the foreseeable future. We anticipate growth in earnings and distributions in the medium term, with high occupancy levels and rental increases, both fixed and linked to the consumer price index, across most of the portfolio. We expect asset values to remain competitively bid over 2018-19, particularly from offshore investors faced with low yields on their domestic bonds. ...
- Tony Sherlock
Auckland Industrial Market to Firm Further, Benefiting Goodman. FVE In...
Goodman Property Trust reported fiscal 2019 operating earnings before tax and performance fees of NZD 110.2 million, down on the NZD 119.1 million in the prior year. The NZD 9 million drop in earnings is inconsequential arising from the loss of rental income following the sale of Goodman’s interest in the Viaduct precinct and other smaller assets. Distributions for the year of NZD 6.65 cents per unit represented 95% of cash earnings of NZD 6.95 cpu. However, distributions were 107% of adjusted...
- Tony Sherlock
Auckland Industrial Market to Firm Further, Benefiting Goodman. FVE In...
We are seeing mounting evidence of improving conditions for owners and developers of industrial property. First, businesses are increasingly prepared to pay rental premium to operate from sites that provide operational and strategic benefits. Second, the rate of growth in space requirement of industrial users appears to be accelerating. This is partly driven by firms in e-commerce requiring more floor space per product to process stock returns and restocking. Third, there is an increasing demand...
- Tony Sherlock
Morningstar | GMT Updated Forecasts and Estimates from 05 Mar 2019
We are seeing mounting evidence of improving conditions for owners and developers of industrial property. First, businesses are increasingly prepared to pay rental premium to operate from sites that provide operational and strategic benefits. Second, the rate of growth in space requirement of industrial users appears to be accelerating. This is partly driven by firms in e-commerce requiring more floor space per product to process stock returns and restocking. Third, there is an increasing demand...
- Tony Sherlock
Morningstar | Goodman Well Positioned to Benefit from Strengthening In...
We are seeing mounting evidence of improving conditions for owners and developers of industrial property. First, businesses are increasingly prepared to pay rental premium to operate from sites that provide operational and strategic benefits. Second, the rate of growth in space requirement of industrial users appears to be accelerating. This is partly driven by firms in e-commerce requiring more floor space per product to process stock returns and restocking. Third, there is an increasing demand...
- Tony Sherlock
Goodman Well Positioned to Benefit from Strengthening Industrial Marke...
We are seeing mounting evidence of improving conditions for owners and developers of industrial property. First, businesses are increasingly prepared to pay rental premium to operate from sites that provide operational and strategic benefits. Second, the rate of growth in space requirement of industrial users appears to be accelerating. This is partly driven by firms in e-commerce requiring more floor space per product to process stock returns and restocking. Third, there is an increasing demand...
- Tony Sherlock
Morningstar | Goodman Supercharges Development as Vacancy Falls and Re...
Goodman Property Trust’s first-half fiscal 2019 result was broadly in line with expectations. Cash earnings were NZD 3.61 cents per unit, or cpu, and NZD 3.21 incorporating the manager's base fee. Fiscal 2019 guidance was reaffirmed to be around NZD 7.0 cpu (before manager base fee) and our forecasts remain just above guidance at NZD 7.1 cpu. Fiscal 2019 distribution guidance of NZD 6.65 cpu was also reiterated. We marginally upgrade our medium-term rent growth assumptions and raise expectatio...
- Tony Sherlock
Morningstar | Goodman Supercharges Development as Vacancy Falls and Re...
With the New Zealand economy appearing to be on an upward trajectory, the outlook for market-based rents remains positive for the foreseeable future. We anticipate growth in earnings and distributions in the medium term, with high occupancy levels and rental increases, both fixed and linked to the consumer price index, across most of the portfolio. We expect asset values to remain competitively bid over 2018-19, particularly from offshore investors faced with low yields on their domestic bonds. ...
- Tony Sherlock
Goodman Supercharges Development as Vacancy Falls and Rents Jump. FVE ...
Goodman Property Trust’s first-half fiscal 2019 result was broadly in line with expectations. Cash earnings were NZD 3.61 cents per unit, or cpu, and NZD 3.21 incorporating the manager's base fee. Fiscal 2019 guidance was reaffirmed to be around NZD 7.0 cpu (before manager base fee) and our forecasts remain just above guidance at NZD 7.1 cpu. Fiscal 2019 distribution guidance of NZD 6.65 cpu was also reiterated. We marginally upgrade our medium-term rent growth assumptions and raise expectatio...
- Tony Sherlock
Goodman Supercharges Development as Vacancy Falls and Rents Jump
Our fair value estimate for no-moat-rated Goodman Property Trust is unchanged at NZD 1.45, with Goodman screening as broadly fairly valued, currently trading at NZD 1.54. Over the past four months, Goodman has settled or agreed to the sale of two major office assets, leaving one immaterial asset representing less than 1% of the property portfolio to sell. We are supportive of the disposals as the firm sold its 51% stake in the Wynyard Precinct Holdings joint venture for NZD 324 million, well abo...
- Tony Sherlock
Morningstar | Goodman Pulls Harder on the Development Lever Following ...
Our fair value estimate for no-moat-rated Goodman Property Trust is unchanged at NZD 1.45, with Goodman screening as broadly fairly valued, currently trading at NZD 1.54. Over the past four months, Goodman has settled or agreed to the sale of two major office assets, leaving one immaterial asset representing less than 1% of the property portfolio to sell. We are supportive of the disposals as the firm sold its 51% stake in the Wynyard Precinct Holdings joint venture for NZD 324 million, well abo...
- Tony Sherlock
Goodman Pulls Harder on the Development Lever Following Asset Sales. F...
Our fair value estimate for no-moat-rated Goodman Property Trust is unchanged at NZD 1.45, with Goodman screening as broadly fairly valued, currently trading at NZD 1.54. Over the past four months, Goodman has settled or agreed to the sale of two major office assets, leaving one immaterial asset representing less than 1% of the property portfolio to sell. We are supportive of the disposals as the firm sold its 51% stake in the Wynyard Precinct Holdings joint venture for NZD 324 million, well abo...
- Dave Nicoski
- Ross LaDuke
Vermilion Int'l Compass: Global Equity Strategy
The MSCI ACWI advanced to another new high yesterday - to levels not seen since mid-March - as global markets have shrugged off the Italian political situation. Both the U.S. and Emerging Markets are leading the move to new highs (more on EM later). While potential resistance levels exist, these recent developments only improve on our already positive outlook... see charts below. • Major themes: Opportunities within Technology and Real Estate. Global Technology stocks are breaking out to new ...
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