Australia's listed property sector includes businesses with different exposure to logistics, data centres, residential development and Investment property. Goodman Group (ASX:GMG), Stockland (ASX:SGP) and Mirvac Group (ASX:MGR) reported their FY26 results during August 2026, outlining different operating priorities heading into FY27.

Goodman continued expanding its logistics and data-centre development platform, while Stockland's FY26 performance reflected higher residential settlement volumes. Mirvac continued its portfolio reset and development program. Their FY26 disclosures provide a clearer view of the operating metrics, guidance and risks relevant through the remainder of 2026.

Goodman Group (ASX:GMG)

Goodman Group (ASX:GMG) reported FY26 operating profit of approximately AUD 2.67 billion, an increase of 15.7% from the previous year. Operating Earnings per security reached 129.9 cents, representing growth of 10.1%. The group reported statutory profit of approximately AUD 2.78 billion and maintained its FY26 distribution at 30 cents per security.

Goodman also reported around 6.4 GW of secured and procured power across 16 major cities. Access to power infrastructure is an important component of the group's data-centre development program because large-scale facilities require considerable grid capacity.

Externally managed Assets under management were approximately AUD 75.4 billion, while total assets managed and owned were about AUD 89 billion. Headline gearing was approximately 6.5%, and available Liquidity stood at around AUD 6.4 billion.

For FY27, Goodman Group (ASX:GMG) guided to approximately 9% growth in operating earnings per security and indicated a distribution of 30 cents per security.

Execution of the development pipeline remains an important Factor for the group. Construction schedules, project funding, leasing activity, access to power and the concentration of development expenditure in data centres may influence the delivery of projects during FY27.

Stockland (ASX:SGP)

Stockland (ASX:SGP) reported FY26 funds from operations of approximately AUD 892 million, representing growth of 10.4%. FFO per security increased 9.1% to approximately 36.9 cents, while statutory profit was about AUD 994 million. The FY26 distribution was maintained at 25.2 cents per security.

Residential development was a major contributor to FY26 activity. Masterplanned Communities recorded around 8,900 lot settlements, compared with the group's guidance range of 7,500 to 8,500 lots. Land Lease Communities delivered approximately 777 home settlements.

Stockland also reduced gearing to approximately 22.7% by the end of FY26. Net tangible assets per security were approximately AUD 4.30.

For FY27, Stockland (ASX:SGP) guided to FFO per security of approximately 38 to 39 cents and indicated a distribution of around 25.2 cents per security. The group also expects its weighted average cost of Debt to increase to approximately 5.9% in FY27 from around 5.3% in FY26.

Residential settlement volumes remain an important operating metric for FY27. Construction costs, buyer activity, project delivery schedules and refinancing costs could influence the contribution from Stockland's development portfolio.

Mirvac Group (ASX:MGR)

Mirvac Group (ASX:MGR) reported FY26 operating profit of approximately AUD 508 million, representing growth of around 7%. Operating earnings per security were approximately 12.9 cents, also increasing by around 7%, while statutory profit was approximately AUD 677 million.

Mirvac reported development returns of approximately 8% for FY26 and has set a target of more than 10% for FY27. Gearing declined to approximately 24.1%, compared with around 27.6% previously, following asset disposals and Capital recycling.

Mirvac Group (ASX:MGR) guided to FY27 operating earnings per security of approximately 13.2 to 13.4 cents. The group also expects around 2,800 to 3,100 residential settlements during FY27.

Delivery of development projects, residential settlements, asset recycling and progress toward the FY27 development-return target remain relevant operating measures. Office leasing conditions, construction costs and residential Demand could also affect project outcomes.

Property Sector Themes

The three groups have different operating exposures. Goodman's development pipeline is increasingly linked to data-centre infrastructure alongside logistics property. Stockland has substantial exposure to residential communities, while Mirvac combines residential development with investment property and capital recycling.

Development costs and financing conditions remain relevant across listed property businesses. Higher refinancing costs can affect earnings, while construction expenses and project timing can influence development margins.

Data-centre development also brings infrastructure-specific considerations, including power availability, construction requirements and project funding. Residential developers remain exposed to settlement volumes, buyer demand and delivery schedules.

Key Risks

Goodman's development pipeline carries execution risk because of the scale of its data-centre projects. Delays in construction, power availability, leasing or project funding could affect the timing of returns from developments.

For Stockland, residential settlements can vary with buyer activity, construction schedules and housing-market conditions. The expected increase in its weighted average cost of debt during FY27 also remains relevant to financing expenses.

Mirvac remains exposed to development execution, residential demand and leasing conditions across its investment portfolio. Delivery against its FY27 development-return target and settlement expectations will therefore remain important measures.

What Investors May Monitor Through the Rest of 2026

For Goodman Group (ASX:GMG), progress across its data-centre work in progress, secured power capacity and project completions may provide further information on execution of its development pipeline.

For Stockland (ASX:SGP), residential settlements, project delivery and financing costs may provide indications of progress against FY27 FFO guidance.

For Mirvac Group (ASX:MGR), residential settlements, project completions, asset recycling and movement toward its targeted FY27 development returns may remain key operating measures.

The FY26 results show different Business drivers across the three property groups. Goodman is allocating substantial development activity to data centres, Stockland is relying materially on residential settlement volumes, and Mirvac is progressing its development and capital-recycling program. FY27 guidance and operational updates will provide further information on how these strategies are progressing.