Property Stocks Down Under 11 January 2023: Goodman Group (ASX: GMG)

Last time we looked at Goodman Group (ASX: GMG), back in February last year, we titled the article ‘Good assets, but at a bad price’. As a company that owns and leases industrial properties, particularly logistics facilities and warehouses, Goodman was a beneficiary from the eCommerce boom during the pandemic. We were not keen on the company, however, simply on valuation grounds – Goodman’s share price nearly triple its NTA. Nearly a year on, the company’s shares have fallen by a third. Is now a more appropriate time to get in? Or will the shares decline further?