Sydney, June 11, 2026, 04:03 (AEST)
- Goodman Group closed at A$31.69 on the June 10 ASX session, adding A$0.49 or 1.57%. GMG traded in a range from A$30.76 to A$31.81.
- Goodman Group’s executive director Danny Peeters sold 600,000 GMG stapled securities for A$18.86 million, fresh Appendix 3Y filings show.
- Investors are still looking at the bigger picture: Goodman’s data-centre pipeline was 73% of its A$14.5 billion in development work in progress as of March 31.
Goodman Group shares gained on Wednesday, closing 1.57% higher at A$31.69. The ASX-listed industrial property and data centre firm finished with a market cap near A$64.8 billion, based on delayed market data after the close. The move came as the latest company news wasn’t an earnings upgrade but another director sale.
Director stock sales can give retail holders a reason to think twice, especially while shares trade more on AI potential than their old warehouse model. But for Goodman, the market shrugged off the director sale this session. The main story for now is if Goodman can convert its expanding data-centre pipeline into real customer deals.
An Appendix 3Y filed to the ASX showed Peeters sold 600,000 Goodman stapled securities on-market across June 4 and June 5 for A$18,860,280. The document said he kept 1,905,291 GMG stapled securities and 2,085,538 performance rights after the sales.
Group CEO Greg Goodman sold 245,525 GMG stapled securities on June 1 in an on-market trade for A$7,736,493, according to an earlier notice. Goodman still has a large indirect stake through Trison Investments and related holdings, the notice showed.
Stock held firm, likely thanks to Goodman’s May 26 Q3 FY26 operational update. Goodman put development work in progress at A$14.5 billion and said it expects WIP to hit around A$18 billion by June 2026. Of the work in progress, 73% was data centres still being built.
Power is the main story for the investment now. Goodman says its data-centre “power bank” was at 6.4GW as of March 31 — that means capacity delivered, secured, or in procurement for its sites. Out of that, 3.6GW was secured, 0.4GW was in progress and 0.7GW delivered. In data centres, access to power decides who builds first. That’s why AI infrastructure investors keep coming to the stock. Goodman
Leasing is the next big test. Goodman said its development plan is on track to hit 0.5 gigawatts of powered shells and completed data-centre projects in progress by June 2026, with total data-centre work in progress topping A$14 billion. The group said contract talks with customers are “well advanced” on several global projects, and it expects contracted deals before the end of the calendar year. Goodman
Management is sticking with its earnings guidance. Operating EPS, the company’s recurring profit per stapled security, hasn’t changed. In the Q3 update, Greg Goodman said the group expects to reach at least that performance, keeping a 9% Operating EPS growth goal for FY26.
Goodman’s older logistics book keeps working in the background. The company said portfolio occupancy was 95.7% and like-for-like net property income rose 4.1% for the year. The total portfolio stood at A$87.1 billion at March 31. Like-for-like net property income takes out portfolio changes to focus on rental growth from the same assets.
Goodman’s push into European data centres is in focus now. Reuters said in December that Goodman and Canada Pension Plan Investment Board agreed on an A$14 billion deal to build centres across Europe. Four sites are planned in Frankfurt, Amsterdam and Paris, and they want to begin work by June 30, 2026.
Data-centre development is weighing on capital, with just 37% of Goodman’s WIP pre-committed, according to Goodman. That leaves much of its expanding data-centre pipeline kicking off before contracts are signed. The company also pointed to procurement and contractor risks from construction costs. Goodman said power, water, grid capacity and planning still restrict the sector.
Goodman is facing questions at month-end on whether it meets its A$18 billion WIP target and grows data-centre WIP closer to 0.5 gigawatts. Investors also want to see if ongoing customer talks turn into signed deals. This now matters more for the stock than the insider sales news.
