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    REIT - Industrial
Goodman Property Trust

Goodman Property Trust

GMT.NZ
Goodman Property TrustNZ flagNew Zealand Exchange
2.08
NZD
-0.02
- -
3.19BMarket Cap
Goodman Property Trust
GMT.NZ
(New Zealand Exchange)

Recent

price

2.08

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
FRC
0.13
0.13
0.13
0.12
0.11
0.12
0.12
0.13
0.12
0.12
0.13
0.13
0.13
0.15
- -
- -
Revenue per Share
-0.01
0.04
0.04
0.07
0.11
0.15
0.19
0.17
0.15
0.25
0.19
0.45
0.54
-0.1
- -
- -
Basic EPS, GAAP
0.09
0.09
0.08
0.07
0.07
0.08
0.07
0.07
- -
- -
- -
- -
- -
- -
- -
- -
Free Cash Flow per Basic Share
0.07
0.06
0.04
0.05
0.05
0.06
0.07
0.07
0.07
0.07
0.07
0.06
0.05
0.06
- -
- -
Dividend per Share
1.07
1.1
1.08
1.2
1.05
1.12
1.23
1.3
1.39
1.57
1.78
2.12
2.61
2.45
- -
- -
Book Value per Share
0.99
1
0.97
1.1
1.05
1.12
1.23
1.31
1.39
1.58
1.79
2.13
2.62
2.45
- -
- -
Tangible Book Value per Share
851
887
961
1,068
1,209
1,226
1,244
1,280
1,288
1,295
1,345
1,391
1,397
1,403
- -
1,539
Basic Weighted Avg Shares
112
116
121
128
138
143
145
166
160
155
172
182
188
214
244
- -
Sales/Revenue/Turnover
67.47
68.99
65.38
63.56
69.32
71.55
71.92
74.82
74.92
74.61
70.2
68.08
65.39
73.2
-37.98
- -
Operating Margin (%)
- -
- -
- -
4
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
-7
37
40
78
134
180
233
214
194
320
262
632
749
-135
-565
- -
Net Income, GAAP
156
14.65
24.3
15.05
8.65
- -
5.97
3.04
6.37
4.57
7.91
2.65
1.99
- -
- -
- -
Effective Tax Rate (%)
-6.22
31.53
33.39
61.05
97.03
125.31
160.43
129.11
121.63
205.86
152.44
347.09
398.62
-63.33
-231.42
- -
Profit Margin (%)
-35
-15
-16
-25
-19
-168
38
-14
307
10
-117
-19
-129
-134
-328
- -
Working Capital
532
580
585
701
736
549
815
660
824
585
584
792
980
1,222
1,219
- -
LT Debt
850
892
935
1,186
1,266
1,377
1,536
1,675
1,794
2,046
2,402
2,969
3,657
3,441
3,099
- -
Total Equity
-2.98
4.77
4.01
4.04
4.5
- -
4.43
5.07
4.47
4.21
3.88
3.52
2.83
- -
- -
- -
Return on Invested Capital (%)
-2.18
4.07
3.83
5.42
7.74
- -
11.51
10.03
8.75
12.98
9.83
19.05
18.05
- -
- -
- -
Return on Capital (%)
-0.76
3.89
4.03
6.74
10.55
13.62
16.05
13.35
11.22
16.72
11.84
23.63
22.69
-3.82
-17.28
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
No data availableFinancial data will appear here once available

Working Capital

FRC

•

in mil. unless spec.
No data availableFinancial data will appear here once available

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
- -
Free Cash Flow
- -
- -
- -
Net Income, GAAP
- -
- -
- -
Sales/Revenue/Turnover
- -
- -
- -
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
214
2024
- -
- -
- -
- -
244
2025
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
-0.1
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.06
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
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Business
Goodman Property Trust (GMT.NZ) operates as New Zealand's largest listed property investment trust and leading provider of warehouse and logistics space, owning, developing, and managing a high-quality portfolio of industrial properties valued at $4.7 billion as of late 2025, primarily focused on the Auckland urban logistics market with over 1.2 million square meters of operationally efficient facilities in key suburbs including East Tamaki, Mangere, Mt Roskill, Mt Wellington, Otahuhu, Panmure, Penrose, and Wiri; its core offerings encompass modern industrial warehouses, logistics facilities, business parks, design-build developments, build-to-lease projects, and a complementary property funds management business through limited partnership vehicles. The Trust serves more than 215 customers with essential supply chain infrastructure, maintains portfolio occupancy at 97.7% and a weighted average lease term of five years, and holds an investment-grade BBB credit rating from S&P Global Ratings. Listed on the NZX Main Board since June 1999 with headquarters at Level 2, KPMG Centre, 18 Viaduct Harbour Avenue, Auckland, the Trust is managed internally following its internalisation on March 28, 2024, with ASX-listed Goodman Group maintaining a cornerstone unitholding of approximately 31.8%. Recent strategic developments include the successful launch and settlement of the Highbrook Fund in September 2025, a new limited partnership owning 28% of the $2.1 billion Highbrook business park in East Tamaki where the Trust retains 72% ownership and generates management fee income, contributing to a 10.4% rise in operating earnings before tax to $83.1 million for the half-year ended September 2025 alongside 7.5% net property income growth to $119.7 million from rental increases and development completions; further capital recycling occurred via the sale of the Bush Road Centre in Rosedale, enhancing financial flexibility with a look-through loan-to-value ratio of 19.6%, while the Trust reaffirmed full-year cash earnings guidance at 8.0 cents per unit and distributions at 6.825 cents per unit, reflecting five consecutive years of distribution growth. Operations remain exclusively Auckland-centric following prior divestments such as Christchurch assets, with ongoing commitments to sustainability through carbonzero certification and targeting 5 Green Star ratings for new developments.