Latest news for Goodman (OTC:GMGSF) Stock

Goodman Group develops and manages industrial property investments worldwide. Rather than taking all risks on its own balance sheet, many Goodman developments are on behalf of end-user tenants, and funds management clients. A typical deal involves purchasing land for a tenant who wants to occupy the site, and/or an investor who will own the asset via a Goodman investment vehicle. Goodman charges leasing fees for locking in tenants, and fees for managing the development. Completed projects reside in Goodman investment vehicles, and Goodman charges asset and investment management fees to investors, in return for collecting rent and managing the site. Goodman retains a minority stake in many projects, generating rental income and aligning its interests with its funds management clients.

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Hong Kong residents stand to win a vehicle made by Tesla Inc (NASDAQ: TSLA) in a lottery aimed at boosting the city’s sluggish COVID-19 vaccination rate, Bloomberg 

Hong Kongers Can Win A Tesla In A Lottery For Getting Vaccinated

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Goodman&#39;s North American Unit Swallows 65 Acres Of Los Angeles &#34;Infill&#34; Real Estate

Goodman Group

Goodman Group (AU:GMG) has released an update. Goodman Group has announced the cessation of 698,666 performance rights due to unmet conditions, as ...

Goodman Group Performance Rights Cease

Goodman Group (AU:GMG) has released an update. Goodman Group has announced the retirement of Phillip Pryke, a key figure in the company who contrib...

Goodman Group Bids Farewell to Veteran Director

In a report released today, Howard Penny from Citi maintained a Buy rating on Goodman Group (GMGSF – Research Report), with a price target of A$32....

Goodman Group (GMGSF) Gets a Buy from Citi

Morgan Stanley analyst Simon Chan maintained a Buy rating on Goodman Group (GMGSF – Research Report) today and set a price target of A$35.30. The c...

Morgan Stanley Remains a Buy on Goodman Group (GMGSF)

Goodman Group (AU:GMG) has released an update. Goodman Group reports a strong third quarter in FY24 with an upgraded Operating EPS growth forecast ...

Goodman Group Thrives Amidst Economic Challenges

Analysts fell to the sidelines weighing in on GPT Group (GPTGF – Research Report) and Goodman Group (GMGSF – Research Report) with neutral ratings,...

Analysts Offer Insights on Real Estate Companies: GPT Group (OtherGPTGF) and Goodman Group (OtherGMGSF)

Goodman Group (AU:GMG) has released an update. Greg Goodman, a director of Goodman Group, has recently altered his stake in the company by selling ...

Goodman Group Director Sells Shares Worth $33M

Goodman Group (AU:GMG) has released an update. GOODMAN GROUP has announced a new dividend of AUD 0.15 per fully paid ordinary/unit stapled security...

GOODMAN GROUP Declares Mid-Year Dividend

Jarden analyst Lou Pirenc downgraded Goodman Group (GMGSF – Research Report) to a Hold today and set a price target of A$37.60. The company's share...

Jarden downgrades Goodman Group (GMGSF) to a Hold

In a report released today, Tom Bodor from UBS downgraded Goodman Group (GMGSF – Research Report) to a Sell, with a price target of A$31.71. The co...

Goodman Group (GMGSF) was downgraded to a Sell Rating at UBS

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Hong Kong residents stand to win a vehicle made by Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) in a lottery aimed at boosting the city&rsquo;s sluggish COVID-19 vaccination rate, Bloomberg <a href="https://www.bloomberg.com/news/articles/2021-06-09/tesla-gold-bars-added-to-hong-kong-s-15-million-vaccine-prizes?sref=TBDibEcD" style="text-decoration-line:none">reported</a> Tuesday.

What Happened: Goodman Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GMGSF#OTC">GMGSF</a>), an Australian industrial property company, is also holding a lottery which will give away HKD 1 million (nearly $128,880) in prizes to fully vaccinated Hong Kong residents by Aug. 31. The prizes include a Tesla Model 3, as per a Goodman statement, reported by Bloomberg.&nbsp;

See Also: <a href="https://www.benzinga.com/money/how-to-buy-tesla-stock/" style="text-decoration-line:none">How to Invest in Tesla Stock</a>

Also on offer is an HKD 20 million ($2.6 million) bonanza that was announced by billionaire Li Ka-Shing&#39;s CK Group in conjunction with his charitable foundation, as per Bloomberg.

Why It Matters: A slew of incentives worth HKD 120 million ($15.46 million), which include lotteries and reward programs, are available to Hong Kong residents, said the city&rsquo;s Chief Executive Carrie Lam in a weekly briefing, reported Bloomberg.

See Also: <a href="https://www.benzinga.com/general/health-care/21/05/20970459/doctor-offers-a-chance-to-win-a-tesla-after-covid-19-vaccination" style="text-decoration-line:none">Doctor Offers A Chance To Win A Tesla After COVID-19 Vaccination</a>

Only 15.1% of Hong Kong&rsquo;s 7.5 million population has reportedly been fully vaccinated.

The incentives are working as 34,600 people reserved slots to get vaccinations made by BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) and China&rsquo;s Sinovac Biotech Ltd in the 24-hours leading up to Tuesday evening (local time), reported Bloomberg.

Price Action: On Tuesday, TSLA shares closed 0.25% lower at $603.59 in the regular session and fell another 0.35% in the after-hours trading.

Click&nbsp;<a href="https://www.benzinga.com/electric-vehicles" rel="noopener noreferrer" target="_blank">here&nbsp;</a>to check out Benzinga&rsquo;s EV Hub for the latest electric vehicles news.

A company most Americans have never heard of is poised to control a large swath of urban industrial land in greater Los Angeles.

The North American unit of Australian real estate company Goodman Group (OTC:<a class="ticker" href="/stock/GMGSF#OTC">GMGSF</a>) said it has acquired a 65-acre manufacturing and distribution site in Fullerton, California, located just 26 miles south of Los Angeles, and will turn the site into what it called a &quot;logistics campus.&quot; The facility, to be renamed the Goodman Logistics Center Fullerton, will be available for occupancy in late 2021, the Goodman unit said. Terms of the deal were not disclosed.

The transaction brings to 200 the amount of Los Angeles acreage that Goodman has acquired in just the past three months. The 65-acre property will most likely be dedicated to supporting last-mile deliveries of e-commerce orders within high-density residential areas. North Orange County is comprised of five cities, including Fullerton.

In a statement, the Goodman unit said the purchase supports the construction of up to 1.5 million feet of warehouse logistics space. This equals the amount of infill &mdash; industry lingo for land to support urban logistics operations such as local deliveries of e-commerce orders &mdash; available for lease in the entire Los Angeles market.

The unit did not disclose what percentage of the 135 acres, if any, that is already under management would be designated as infill land.

Based in Sydney, Goodman has about $33 billion of assets under management worldwide. About $4.3 billion of that is in the Americas, which includes the U.S., Canada, Mexico and parts of Central America. The company did not break out the size of its U.S. business on its website. It owns, develops and manages industrial property and business space.

North Orange County accounts for about 46% of the county&#39;s industrial land that&#39;s available for lease, according to third-quarter data from CBRE Services Inc. (NYSE:<a class="ticker" href="/stock/CBRE#NYSE">CBRE</a>). The vacancy rate stood at 2.3%, and asking rents hit an all-time high, according to CBRE data. Approximately 1.2 million square feet were under construction at the end of September, the data showed. Net absorption, which is the amount of square footage leased minus the volume that is vacated by tenants and made available on the market, stood at just under 265 million square feet.

The availability rate, which divides the amount of space available for lease, sublease or sale by the total amount, stood at 4.6%. As an example, a property consisting of 100,000 square feet may have 10,000 vacant square feet available now and 5,000 square feet available in three months. This means the availability rate is 15%, while the occupancy rate is set at 10%. The availability rate is seen by some as the most accurate measure of a property&#39;s or region&#39;s prospects.

At quarter&#39;s end, industrial occupancy was at its strongest levels in two years, with activity boosted by a slight increase in supply, CBRE said. However, the market remains undersupplied, and landlords are capitalizing by hiking rents, CBRE said.

&quot;Food, manufacturing, third-party logistics, and e-commerce users continued to drive demand for space in Orange County due to the location&#39;s proximity to ports, large labor pool and access to metropolitan areas,&quot; CBRE said.&nbsp;

The facility is near the Los Angeles/Long Beach seaport complex, five freeways and 26 shipping centers operated by FedEx Corp., (NYSE:<a class="ticker" href="/stock/FDX#NYSE">FDX</a>), UPS Inc. (NYSE:<a class="ticker" href="/stock/UPS#NYSE">UPS</a>) and privately held regional parcel carrier OnTrac, which serves eight western states. Orange County, which covers about 980 square miles, had a population of 3.17 million at the end of 2017. It is the third most populous county in the nation.

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