SYDNEY, June 27, 2026, 05:01 AEST
- Goodman Group ASX:GMG ended at A$32.01 on Friday, slipping 0.56%. The shares moved in a range from A$31.84 to A$32.39 during the day.
- The stock gained 1.6% this week, while the S&P/ASX 200 Index (INDEXASX:XJO) slipped 0.7% over those five sessions.
- Monday’s 15-cent ex-distribution cuts about 0.47% off Friday’s close. It’s a minor move next to the data-centre execution risk priced into shares.
ASX cash-market trading goes from 09:59:45 to 16:00 Sydney time. Goodman Group ASX:GMG finished Friday at A$32.01, losing 18 cents on the day, but the stock still held gains for the week heading into the weekend.
Goodman rose 1.6% this week, while the S&P/ASX 200 Index (INDEXASX:XJO) slipped 0.7%. That leaves a 2.3-point gap, showing Goodman isn’t moving in line with the usual property yield names and acts more like an execution bet on data-centre sites with strong power access.
The payout isn’t the real story. The 15-cent dividend goes ex-dividend June 29, with payment set for Aug. 26. Based on Friday’s close, it works out to 0.47% of shares; the semi-annual rate puts it at about 0.94% a year. According to Google Finance, Goodman’s market cap is A$65.45 billion and the stock trades at a P/E of 38.59.
The company’s development book explains it. Goodman had A$14.5 billion in work in progress as of March 31, with 73% of that tied to data centres. The WIP figure could hit roughly A$18 billion by June, and data-centre WIP is expected to top A$14 billion.
With those numbers, data centres are set to make up nearly 80% of WIP by June. That’s also why the Monday ex-date is less of a story. The bigger test for Goodman is converting its power, planning approvals and shells into real customer deals. Goodman said it was far along on commercial terms with customers and expects contracted commitments later in calendar 2026.
Power is the tougher metric. Goodman has 6.4 GW in its data-centre power bank. Of that, 3.6 GW is secured and another 2.8 GW is in advanced procurement. Secured power makes up 56% of the total. The remainder faces timing risk.
Chief Executive Greg Goodman called the group a provider of “physical infrastructure” for the tech shift. Goodman said the company is “on track to deliver at least” 9% operating EPS growth in fiscal 2026, as long as no major market changes hit.
Motley Fool Australia on Friday highlighted new broker targets for Goodman, setting the price between A$35.50 and A$40.00. That puts the high end about 25% above where Goodman finished on Friday. The gap shifts focus toward lease deals and power updates, not the next dividend.
Goodman’s operating property base supports the trade here. The group reported portfolio occupancy at 95.7% as of March 31. Like-for-like net property income increased by 4.1%. Expected rent reversion came in at 11.3%. Over the past 12 months, Goodman leased 3.3 million square metres. That brought in A$491 million in new annual rent.
Goodman Group’s next dated event is straightforward: the distribution goes ex on June 29, with a record date of June 30. Payment lands Aug. 26. Beyond that, timing gets fuzzier. Goodman told investors customer commitments are now expected sometime in calendar 2026.
