12/04/2024 09:04

Goodman Group (GMG) $32.07

GMG reversed ~80% of its early losses on Thursday to end the session down just 0.8%, a very impressive performance considering the US Retail Sector fell -4.1%. Also, NEXTDC (NXT), another alternative for exposure to data centres, albeit very different, launched a significant $1.3bn capital raise. We continue to believe this $61bn business is the number one stock in the Australian Property Sector and will remain a core holding for us until further notice.

Read more

04/04/2024 09:10

Goodman Group (GMG) $32.50

GMG has enjoyed a stellar run, and even after yesterday's pullback, it's up 34% in 2024. We have no plans to change our position in the short term, but if it follows the path illustrated below, it suggests another 8-10% potential downside before the buyers return.

Read more

26/03/2024 09:13

Reviewing five major stocks making fresh 52-week highs

A number of major ASX200 stocks hit fresh recent highs on Monday, led by heavyweight real estate favourite Goodman Group (GMG) – as we’ve discussed in the past, this is one particular holding we are bullish over the medium term and are “happy to let it run” – MM is long GMG in our Active Growth Portfolio. This morning, we deliberately looked at five stocks, not in MM portfolios, but it was pleasing to see Xero (XRO) and Sandfire (SFR) both continuing to deliver and joining GMG in the winner's enclosure – note we already looked at Webjet (WEB) earlier in this mornings report hence didn’t cover again.

Read more

19/03/2024 09:06

Goodman Group (GMG) $29.74

For the second consecutive Monday, high-flying GMG was one of the worst-performing real estate stocks; yesterday, it fell -3.6%, taking out the wooden spoon this week. The stock is still up an impressive +18.6% year-to-date, but as we saw yesterday, it’s a definite candidate for profit-taking when markets lose confidence that central banks will start cutting rates in 2024.

Read more

14/03/2024 08:48

Goodman Group (GMG) $30.85

GMG rallied +2.5% yesterday, taking it within 3% of its 2024 and all-time high. At MM, we like GMG, as discussed several times in 2024. In February, they upgraded FY24 earnings guidance with 1H, with operating profit coming in at $1.13bn, ahead of expectations driven by strong development earnings. They talked up the growth available in data centres; we like this medium/long-term play and have no plans to reduce our 4% position.

Read more

12/03/2024 09:00

Goodman Group (GMG) $30.15

High-flying GMG was one of the worst-performing real estate stocks on Monday, falling -2.1% while the underlying sector only slipped -1.1%. The stock is still up an impressive +19.2% year-to-date, and while yesterday’s move isn’t exciting for bargain hunters, it does illustrate how much of Monday's decline was focused on profit-taking instead of more troublesome reasons.

Read more

15/02/2024 16:46

Goodman Group (GMG) $28.47

GMG +7.03%: Hits a new post-GFC high with the stock rallying today on upgraded FY24 earnings guidance; they now see 11% operating earnings per share (EPS) growth up from 9%. While analysts already thought they were under-promising and consensus was sitting at ~11% growth, it  gives more confidence they’ll meet and probably beat it.

Read more

21/12/2023 09:04

Goodman Group (GMG) $24.61

GMG has made new 2023 highs in recent weeks, but we aren’t looking to sell into strength; we are big fans of this business as it expands into the lucrative data centre market.

Read more

14/12/2023 09:09

Goodman Group (GMG) $23.84

GMG broke out to fresh 2023 highs yesterday as the real estate and tech sectors continue to enjoy the relatively new tailwind of falling bond yields, which is likely to be even more pronounced this morning. We are a big fan of this business, and MM’s Research Lead, Shawn, was close to calling it his top pick for 2024 on Ausbiz last week.

Read more

16/11/2023 09:25

Goodman Group (GMG) $23.55

Our most recent property purchase, GMG, made fresh 2023 highs on Wednesday, and again, it would be easy to grab a quick profit, but the reasons we bought GMG remain, especially its evolution into data centres; hence, we are not planning to sell in the foreseeable future.

Read more