08/04/2025 09:15

Mirvac Group (MGR) $2.05

Diversified property group MGR has advanced by 9.3% year-to-date, a stellar effort considering the carnage in other sectors of the ASX. MGR delivered a strong 1H25 result in February, but we are becoming increasingly concerned about how easily it will be able to sell off over $500 million in non-core asset sales when other asset classes are suddenly “on-sale”. Additionally, its trading environment may struggle to improve if the country falls into, or even flirts with, a recession.

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18/02/2025 09:32

Mirvac Group (MGR) $2.22

Last week, MGR delivered an good 1H25 result, which has seen the stock pop ~10% in rapid fashion. Notably, the company reaffirmed guidance, though the trends in the result had us thinking they are being conservative, and an upgrade feels likely prior to June if the current trends continue.

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15/01/2025 09:54

Active Growth Portfolio – Amendments

We are making two changes to the Active Growth Portfolio today.

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18/12/2024 09:33

Mirvac Group (MGR) $1.96

Mirvac, along with the majority of the property sector, has endured a tough month; hence, we consider if it’s a Buy, Hold or Sell at current levels after retreating over 10% this month so far.

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28/11/2024 09:54

Mirvac Group (MGR) $2.19

At the start of the month, we discussed switching MGR to Macquarie (MGQ), which is not a “like for like” move. Still, it was a Trump-inspired contemplation with property names unlikely to outperform the index while the risks of sticky inflation remain.

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07/11/2024 09:30

Mirvac (MGR) into Macquarie Group (MQG)

Mirvac Group (MGR) – the property name is unlikely to outperform the market while the risks of sticky inflation, at best, remain elevated in the US and potentially at home..

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22/10/2024 16:53

Mirvac Group (MGR) $2.19

MGR unchanged: The commercial and residential building company released its 1Q25 operational update today, reiterating full-year guidance. The stock was flat in a soft market as rate-sensitive areas came under pressure from higher bond yields overnight.

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03/10/2024 09:16

Mirvac Group (MGR) $2.15

MGR has largely shrugged off its disappointing trading update in August, which saw lower development contributions and higher net interest costs weigh on performance and importantly FY25 guidance, which we thought was very conservative at the time.  

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08/08/2024 17:03

Mirvac (MGR) $1.92

A disappointing update from MGR, though, it does not change our thesis, with the potential for upside around interest expense costs and asset sales.

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17/07/2024 09:45

Active Growth Portfolio – Amendments

We are making two changes to the Active Growth Portfolio today

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