Sydney, June 26, 2026, 04:03 AEST
- Goodman ended Thursday at A$32.19, gaining 1.13%. The ASX 200 dropped 0.68%.
- The move tacked on around A$735 million in market value. That’s more than the A$613 million implied by its yearly 30-cent payout, according to Reuters calculations.
- As of March 31, 63% of Goodman’s A$14.5 billion development workbook had no pre-commitments. Goodman is aiming for around A$18 billion by June.
Goodman Group ASX:GMG rose A$0.36 to finish at A$32.19 on Thursday. The stock moved in a range from A$31.78 to A$32.33. Volume came in at 4.77 million, close to its usual 4.83 million. The S&P/ASX 200 closed at 8,748.65.
Goodman shares climbed 36 cents, which is 2.4 times the company’s next 15-cent half-year distribution. Based on Thursday’s close, two of these payouts work out to an annual yield around 0.93%. The securities go ex-distribution June 29, and holders will be paid on August 26.
Goodman’s payout math helps explain why the stock looks less like an income property trust and more like a developer. Work in progress was A$14.5 billion at March 31. Of that, 73% is data centres and total pre-commitment is 37%. That’s about A$10.6 billion in data centre projects and A$9.1 billion of overall projects without pre-commitments. The June workbook target is A$18 billion, which means Goodman is chasing about 24% growth in just one quarter.
Goodman’s global data-centre power bank stands at 6.4 gigawatts, but just 0.4 GW is currently under construction and 0.7 GW is stabilised. That leaves a big difference between the firm’s fully controlled capacity and how much is up and running. The work in progress figure is 6.25% of the total power bank.
Chief Executive Greg Goodman said “hyperscale capex is accelerating” and that “customer discussions are advancing across our sites.” The company said it’s still aiming for at least 9% growth in operating earnings per security for fiscal 2026.
The stock is trading roughly 13.7% under its 52-week peak of A$37.31, but up 31.1% from its A$24.56 low. Analysts have an average price target of A$34.66, which is 7.7% higher than where it closed on Thursday. Consensus rating is buy from 13 analysts.
Morningstar’s Yingqi Tan called the investor focus in February “progress in pipeline activation.” That’s turning into a more pointed question now, as Goodman nears the end of the quarter it aimed to add around A$3.5 billion to work in progress. Morningstar
ASX trades as usual on Friday. Goodman securities turn ex-distribution on Monday, with the record date set for Tuesday, June 30. Goodman is due to announce fiscal 2026 numbers on August 20.
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