GROWTHPOINT PROPERTIES AUSTRALIA (GOZ)
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GOZ - GROWTHPOINT PROPERTIES AUSTRALIA

FNArena Sector : Infra & Property Developers
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 8.09
Index: ASX300 | ALL-ORDS

Growthpoint Properties is a real estate investment company with a portfolio of industrial and office properties across Australia. It has been listed on the ASX since 2007.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.21

28 Feb
2024

0.020

OPEN

$2.20

0.91%

HIGH

$2.22

1,418,897

LOW

$2.14

TARGET
$2.967 34.2% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
CMW . CWP . FRI . FWD . GMG . GPT . HPI . LIC . LLC . MGR . PPC . SFC . SGP . SIO . UOS .
FNARENA'S MARKET CONSENSUS FORECASTS
GOZ: 1
Title FY22
Actual
FY23
Actual
FY24
Forecast
FY25
Forecast
EPS (cps) xxx N/A 21.1 xxx
DPS (cps) xxx N/A 19.3 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 10.6 xxx
Dividend Yield xxx N/A 8.7% xxx
Div Pay Ratio(%) xxx N/A 91.3% xxx

Dividend yield today if purchased 3 years ago: 6.84%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

9.60

Estimated Dividend Growth
(Average Of Past Three Years)

 %

Amount Invested

Tell Me The Dividend After This Many Years

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 28/12 - ex-div 9.65c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx-32.1
DPS All xxxxxxxxxxxxxxx21.4
Sales/Revenue xxxxxxxxxxxxxxx342.7 M
Book Value Per Share xxxxxxxxxxxxxxx405.2
Net Operating Cash Flow xxxxxxxxxxxxxxx176.0 M
Net Profit Margin xxxxxxxxxxxxxxx-71.67 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx-7.47 %
Return on Invested Capital xxxxxxxxxxxxxxx-4.72 %
Return on Assets xxxxxxxxxxxxxxx-4.59 %
Return on Equity xxxxxxxxxxxxxxx-7.47 %
Return on Total Capital xxxxxxxxxxxxxxx4.67 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx10.9 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx2 M
Long Term Debt xxxxxxxxxxxxxxx2,024 M
Total Debt xxxxxxxxxxxxxxx2,026 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx49 M
Price To Book Value xxxxxxxxxxxxxxx0.69

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx2.7 M
Capex % of Sales xxxxxxxxxxxxxxx0.79 %
Cost of Goods Sold xxxxxxxxxxxxxxx59 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx40 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx5,104 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

23/02/2024

1

Outperform

$2.50

13.12%

Growthpoint Properties' funds from operations were 6% ahead of Macquarie's expectations, with the key driver being a (low quality) $4m surrender payment. This followed an agreement with a tenant for an early exit of space in South Australia.

With FY24 FFO guidance reaffirmed, after initially being set at the FY23 result, the broker believes there may be upside risk to guidance.

Growthpoint is making solid progress on expiry and vacancy in a difficult office leasing environment, Macquarie notes. Despite ongoing downside risk in office, the broker is attracted to the group's long office WALE at an 8.5% FY24 dividend yield.

Target falls to $2.50 from $2.82 to factor in incentives and push out income downside risk given no expiry in the first half 2024. Outperform retained.

FORECAST
Macquarie forecasts a full year FY24 dividend of 19.30 cents and EPS of 17.90 cents.
Macquarie forecasts a full year FY25 dividend of 18.40 cents and EPS of 17.90 cents.

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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