Goodman Group is one the world’s largest industrial real estate fund manager in the world. The main business line comprise of owning logistics / industrial assets on balance sheet but the growth earnings has been driven by the funds management arm where it raises and deploy third party capital in investing in industrial properties.
Unlike Charter Hall which is a real estate fund manager diversified across most of the common real estate asset classes, Goodman just focus on building and managing industrial properties which spans distribution centers, light manufacturing and business park.
Pre-Covid industrial assets re-rated as result on set of ecommerce. Goodman was the predominate beneficiary of this trend and it looks like Covid is just accelerating this trend. As result of this, it is one of the best performer amongst the listed real estate companies on the ASX.
The annual dividend yield is lower than you expect for a real estate stock because majority of the earnings are retained to fund its development pipeline or co-investment in its funds.
GMG Dividend
Goodman Dividend Dates
Interim Dividend: August
Final Dividend: February