Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

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Equity Bottom-Up

Goodman Group’s reported fiscal 2016 earnings of AUD 40.1 cents per security, was in line with  our forecast and represented growth of 7.8% on the prior year. This is the sixth year running where Goodman has achieved annual EPS growth of 6% to 8% and management are forecasting this to continue, guiding for fiscal 2017 EPS of AUD 42.5 cents, representing growth of 6.0%. Distributions will rise in step, with the guided distribution of AUD 24.5 cents per security (based on a 60% payout ratio) representing a yield of 3.3% at current levels.The substantial yield premium on high-quality industrial property to bonds is a key factor behind strong institutional demand for Goodman-developed product. With an outlook for interest rates to reach exceptionally low levels, we expect sustained institutional demand for industrial property.Analyst: Tony Sherlock

Goodman Group’s reported fiscal 2016 earnings of AUD 40.1 cents per security, was in line with  our forecast and represented growth of 7.8% on the prior year. This is the sixth year running where Goodman has achieved annual EPS growth of 6% to 8% and management are forecasting this to continue, guiding for fiscal 2017 EPS of AUD 42.5 cents, representing growth of 6.0%. Distributions will rise in step, with the guided distribution of AUD 24.5 cents per security (based on a 60% payout ratio) representing a yield of 3.3% at current levels.The substantial yield premium on high-quality industrial property to bonds is a key factor behind strong institutional demand for Goodman-developed product. With an outlook for interest rates to reach exceptionally low levels, we expect sustained institutional demand for industrial property.Analyst: Tony Sherlock

Frasers Logistics & Commercial Trust (FLT SP)

Growing Institutional Demand for Industrial Assets Underpins Our Outlook for Strong Earnings Growth