Goodman Property Trust

[Beagle]

https://www.nzx.com/files/attachments/193790.pdf

In a market that's going sideways its time we had a good look at maximising dividend yield and providing a relatively safe haven.

My preference in this sector is Goodman Property Trust GMT. I am not a strong believer in the retail or office sector and therefore I avoid REIT's
in those sector's. I believe Goodman's industrial portfolio provides the infrastructure for many of N.Z's core business's and has sound business prospects.

Dividend pay-out forecast this year is 6.45 cents per unit. This is a portfolio investment entity (P.I.E) so tax paid by the Trust is the final tax.
At the current price of $1.07 6.45 cents per unit = 6.03% net. For an investor on a 33% tax rate this is the equilivent of 9% gross per annum.

Whilst this isn't an exceptional return in this sector what is exceptional and well worth noting is the GMT are presently paying out only 80% of their net earnings as they
grow their investment portfolio and fill up their business parks such as the one at Highbrook.

Worth noting is the changes in their structure planned - see above link.

There's presently a strong development pipeline and the un-used land bank as a percentage of their investment portfolio is reducing such that real growth in future
payouts is highly likely in my opinion.

Arguably this Trust pays an excellent dividend yield with real prospects for the best dividend growth in same in the medium term.

What's your thoughts and / or preference in this sector ?

Anyone going to the AGM of GMT tomorrow ?