| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 0/6 |
| Past Performance | 4/6 |
| Financial Health | 3/6 |
| Dividends | 2/6 |
GMT Overview
Goodman Property Trust own, develop and manage industrial real estate in 17 countries including logistics facilities, warehouses and business parks.
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | NZ$2.50 |
| 52 Week High | NZ$2.13 |
| 52 Week Low | NZ$2.67 |
| Beta | 0.11 |
| 1 Month Change | -1.77% |
| 3 Month Change | 1.63% |
| 1 Year Change | 0.40% |
| 3 Year Change | 66.11% |
| 5 Year Change | 100.80% |
| Change since IPO | 155.10% |
Recent News & Updates
Shareholder Returns
| GMT | NZ REITs | NZ Market | |
|---|---|---|---|
| 7D | 1.2% | -1.0% | 0.4% |
| 1Y | 0.4% | -3.4% | 2.1% |
Return vs Industry: GMT exceeded the NZ REITs industry which returned -3.4% over the past year.
Return vs Market: GMT underperformed the NZ Market which returned 2.1% over the past year.
Price Volatility
| GMT volatility | |
|---|---|
| GMT Beta | 0.11 |
| Industry Beta | 0.55 |
| Market Beta | 1 |
Stable Share Price: GMT is less volatile than 75% of NZ stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: GMT's weekly volatility (2%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1999 | n/a | John Dakin | https://nz.goodman.com |
Goodman Property Trust own, develop and manage industrial real estate in 17 countries including logistics facilities, warehouses and business parks. Our investment Partnerships give institutional investors access to our specialist investment management services and commercial and industrial property assets. In New Zealand, Goodman owns, develops and manages modern, high quality industrial and business space.
Goodman Property Trust Fundamentals Summary
| GMT fundamental statistics | |
|---|---|
| Market Cap | NZ$3.49b |
| Earnings (TTM) | NZ$631.70m |
| Revenue (TTM) | NZ$182.00m |
5.5x
P/E Ratio19.2x
P/S RatioIs GMT overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| GMT income statement (TTM) | |
|---|---|
| Revenue | NZ$182.00m |
| Cost of Revenue | NZ$41.80m |
| Gross Profit | NZ$140.20m |
| Expenses | -NZ$491.50m |
| Earnings | NZ$631.70m |
Last Reported Earnings
Mar 31, 2021
Next Earnings Date
Nov 10, 2021
| Earnings per share (EPS) | 0.45 |
| Gross Margin | 77.03% |
| Net Profit Margin | 347.09% |
| Debt/Equity Ratio | 24.7% |
How did GMT perform over the long term?
See historical performance and comparisonDividends
2.1%
Current Dividend Yield87%
Payout RatioValuation
Is Goodman Property Trust undervalued compared to its fair value and its price relative to the market?
5.53x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: GMT (NZ$2.5) is trading above our estimate of fair value (NZ$1.6)
Significantly Below Fair Value: GMT is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: GMT is good value based on its PE Ratio (5.5x) compared to the NZ REITs industry average (5.9x).
PE vs Market: GMT is good value based on its PE Ratio (5.5x) compared to the NZ market (22.2x).
Price to Earnings Growth Ratio
PEG Ratio: GMT's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: GMT is overvalued based on its PB Ratio (1.2x) compared to the NZ REITs industry average (1.1x).
Future Growth
How is Goodman Property Trust forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
-43.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: GMT's earnings are forecast to decline over the next 3 years (-43.3% per year).
Earnings vs Market: GMT's earnings are forecast to decline over the next 3 years (-43.3% per year).
High Growth Earnings: GMT's earnings are forecast to decline over the next 3 years.
Revenue vs Market: GMT's revenue (2.3% per year) is forecast to grow slower than the NZ market (5.3% per year).
High Growth Revenue: GMT's revenue (2.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: GMT's Return on Equity is forecast to be low in 3 years time (3.2%).
Past Performance
How has Goodman Property Trust performed over the past 5 years?
15.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: GMT has a large one-off gain of NZ$560.0M impacting its March 31 2021 financial results.
Growing Profit Margin: GMT's current net profit margins are higher than last year .
Past Earnings Growth Analysis
Earnings Trend: GMT's earnings have grown by 15.8% per year over the past 5 years.
Accelerating Growth: GMT's earnings growth over the past year (141.2%) exceeds its 5-year average (15.8% per year).
Earnings vs Industry: GMT earnings growth over the past year (141.2%) underperformed the REITs industry 267.1%.
Return on Equity
High ROE: GMT's Return on Equity (21.3%) is considered high.
Financial Health
How is Goodman Property Trust's financial position?
Financial Position Analysis
Short Term Liabilities: GMT's short term assets (NZ$11.9M) do not cover its short term liabilities (NZ$30.6M).
Long Term Liabilities: GMT's short term assets (NZ$11.9M) do not cover its long term liabilities (NZ$831.7M).
Debt to Equity History and Analysis
Debt Level: GMT's debt to equity ratio (24.7%) is considered satisfactory.
Reducing Debt: GMT's debt to equity ratio has reduced from 55.7% to 24.7% over the past 5 years.
Debt Coverage: GMT's debt is not well covered by operating cash flow (12.2%).
Interest Coverage: GMT's interest payments on its debt are well covered by EBIT (5.5x coverage).
Balance Sheet
Dividend
What is Goodman Property Trust current dividend yield, its reliability and sustainability?
2.12%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: GMT's dividend (2.12%) isn’t notable compared to the bottom 25% of dividend payers in the NZ market (2.41%).
High Dividend: GMT's dividend (2.12%) is low compared to the top 25% of dividend payers in the NZ market (4.9%).
Stability and Growth of Payments
Stable Dividend: GMT's dividend payments have been volatile in the past 10 years.
Growing Dividend: GMT's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (87.2%), GMT's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: GMT's dividends in 3 years are forecast to be covered by earnings (79.8% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
7.9yrs
Average management tenure
CEO
John Dakin (55 yo)
17.75yrs
Tenure
Mr. John Morton Dakin has been the Chief Executive Officer of Goodman (NZ) Limited since 2004 and also serves as its Executive Director. Mr. Dakin has been Executive Director of GMT Bond Issuer Limited sin...
CEO Compensation Analysis
Compensation vs Market: Insufficient data to establish whether John's total compensation is reasonable compared to companies of similar size in the NZ market.
Compensation vs Earnings: John's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: GMT's management team is seasoned and experienced (7.9 years average tenure).
Board Members
Experienced Board: GMT's board of directors are seasoned and experienced ( 10 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Goodman Property Trust's employee growth, exchange listings and data sources
Key Information
- Name: Goodman Property Trust
- Ticker: GMT
- Exchange: NZSE
- Founded: 1999
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: NZ$3.493b
- Shares outstanding: 1.40b
- Website: https://nz.goodman.com
Location
- Goodman Property Trust
- KPMG Centre
- Level 2
- Auckland
- 1010
- New Zealand
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/10/25 06:01 |
| End of Day Share Price | 2021/10/22 00:00 |
| Earnings | 2021/03/31 |
| Annual Earnings | 2021/03/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.