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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16/07/2024 09:30

Mirvac Group (MGR) $2.08

We have been a touch slow in jumping MGR, but we continue to like this property group. In today's cautious market, we would rather jump on board a stock that’s shown its bullish hand.

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09/07/2024 09:32

Mirvac Group (MGR) $1.835

MGR was raised to a Buy at UBS with a price target of $2.19, almost 20% above yesterday's close. The upgrade is based on earnings growth and valuation, UBS expecting a compound annual growth rate in earnings of 6% from FY25 through FY28., underpinned by an uptick in residential and commercial developments which will feed increased passive income upon completion, with easing of interest cost pressures another tailwind.

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21/03/2024 09:33

Mirvac Group (MGR) $2.14

The diversified Australian property business is exposed in multiple areas from Industrial, Office, Residential & Retail making it a play on the broader space as opposed to picking the eyes out of one specific area, which is generally our preference – i.e. when office is oversold, we buy a pure-play office REIT, or we like Self Storage assets, so we buy a pure-play self-storage operator.

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09/02/2024 09:28

Mirvac Group (MGR) $2.24

Property group MGR popped +4.67% after reporting yesterday, with the stock making fresh 20-week highs, probably bringing some quant/volatility traders onto the bid. MGR confirmed guidance for the full year, although they did say momentum in their residential business remains sluggish and margins tight, i.e. not too bad was good enough. Like the Property Sector, MGR is well positioned for lower interest rates through 2024/5.

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21/09/2023 09:44

Mirvac Group (MGR) $2.20

Leading residential developer MGR operates across build-to-sell and build-to-rent accommodation, both of which are in demand today and will only increase as our population swells. Approximately 20% of MGR’s forecast earnings are derived from residential development with the potential for a new earnings stream from building apartments to rent over the next few years. We believe Mirvac is positioned perfectly to deliver sector-leading earnings growth of ~7% over the next three years, driven primarily by improved residential trading conditions as governments move to deal with the housing crisis.

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15/06/2023 09:14

Mirvac Group (MGR) $2.18

Property Group MGR looks ok value trading on an estimated P/E of 14.8x for 2023 while being forecast to yield 4.8% over the next 12 months but as we like to quote “don’t fight the tape” and a test back under $2, or 8% lower, is looking increasingly likely.

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21/04/2023 09:26

Mirvac Group (MGR) $2.26

Mirvac (MGR) is a property group involved in both the development and management of office, retail and industrial property assets in Australia - we do like this integrated, diversified approach believing the stock is okay value trading on an estimated P/E of 14.7x for 2023 while it’s also expected to yield 4.5% over the next 12 months.

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09/02/2023 17:15

Mirvac (MGR) $2.29

MGR -4.58%: Reported a better-than-expected 1H23 result today, however, they maintained their full-year guidance for operating EPS of 15.5c and a dividend of 10.5c which implies they think the 2H will be tougher. Given the run-up in share price leading into today’s result., clearly, there was optimism around the potential for an upgrade to FY numbers, but alas, it proved elusive and the market sold it off.

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