Sydney, June 24, 2026, 06:03 (AEST)
Goodman Group finished flat at A$31.55 on Tuesday, while the S&P/ASX 200 slipped 0.33% to 8,787.00. Investors stayed put ahead of Australia inflation figures out later Wednesday.
May’s consumer price index is due at 11:30 a.m. AEST. Annual CPI was 4.2% in April, with trimmed-mean inflation at 3.4%. If CPI comes in higher, that could keep borrowing costs up. That matters to property developers working on long-term projects.
RBA holds rate at 4.35% after hikes this year
The Reserve Bank of Australia kept its cash rate steady at 4.35% last week, following a total increase of 0.75 percentage point since January. Governor Michele Bullock said the hikes were “necessary to slow demand” and reduce inflation. Reserve Bank of Australia
Goodman started the session at A$31.81, traded between A$31.86 and A$31.51, then closed unchanged. Volume was light, with 2.52 million shares traded, below its average of 4.82 million. The company’s market cap stayed around A$64.5 billion.
Goodman ASX:GMG is moving ahead with its A$2.65 billion deal to bring together industrial holdings linked to Brickworks. Its main property fund, Goodman Australia Industrial Partnership, is putting in about A$2.3 billion, and Goodman itself will contribute around A$350 million. “The transaction would let the group redeploy capital into opportunities that support long-term customer demand,” said Jason Little, Goodman’s Australia CEO. The Australian
Data centres are still the big valuation issue. As of March 31, Goodman’s development work in progress—its own call on the fully built value of its current projects—was A$14.5 billion. Of that, 73% is data centres. Goodman says the number could hit A$18 billion by June, with 37% already pre-committed. That means customers signed on before the projects got underway.
Chief Executive Greg Goodman is calling the current shift “the most significant technological transition of the 21st century.” Goodman said the group provides the physical infrastructure to back that move. Goodman
Goodman’s stock held up as data-centre operator NEXTDC dropped 1.7% during Tuesday’s tech sell-off. The two aren’t a straight match—Goodman is in property, development, and fund management. Investors didn’t group all AI-related infrastructure stocks.
Analysts mostly back the stock but there’s a range. Out of 13 tracked by MarketScreener, the average call is a buy, with a consensus target price of A$34.66—about 10% over Tuesday’s finish. The lowest price target is A$29 and the highest is A$40.
The risks are big. A hotter inflation read could cut the present value of future rents and push up funding costs. Customer signings might trail build-outs, and new capacity from rivals could pressure returns. Morningstar analyst Winky Tan said data-centre economics can take a hit from obsolescence, high upgrade bills, and new rival supply.
Goodman goes ex-distribution June 29 for a 15 cent unfranked payout with no Australian tax credit, payable August 26. Full-year numbers are out August 20. The nearest test for the stock is Wednesday’s CPI, which could decide if Goodman can stay over A$31.
