What this article spells out very clearly is that GMG is getting MUCH MUCH STRONGER !! With better performances comes an increase in the Dividends payouts also. The REIT sector is taking off.
The article from THE AUSTRALIAN no less:
Goodman Group, which renegotiated $4.1bn worth of debt almost a year ago, returned the best financial year share market performance in the real estate sector, with a return of 102.1 per cent.
UBS said Goodman Group shares were good value, as the company had started to deliver on some of its key goals.
Goodman has secured $1.3bn to fund projects in Europe and is seeking a further $1bn in the next 12 months to fund developments.
"The A-REIT sector is likely to return around 9 per cent to 11 per cent over the coming financial year, made up of income around 7 per cent and capital growth of a modest 2-4 per cent," he said.
Maxim Asset Management founder and managing director Winston Sammut said there could be scope for income growth in the next 12 months because REITs had cut distributions in the past year.
"Signs are promising that the sector has turned around and gone back to its roots and will deliver a lower risk-adjusted return -- when markets go down, REITs go down less."
The recovery has mostly taken place in recent months, after the A-REIT 200 index was the seventh worst performing sector for the 12 months to March.
Start of sidebar. Skip to end of sidebar. .End of sidebar. Return to start of sidebar. The sector doubled in value over the year to market capitalisation of more than $65 billion.
Since then, the sector has gained about $4bn in additional value.
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