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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02/12/2022 09:33

Mirvac Group (MGR) $2.30

MGR has corrected over 40% from its 2021 high making it one of the worst performers in the sector, however, we like this integrated, diversified property group believing the stock is reasonable value trading on an estimated 15x for 2023 while it’s also expected to yield 4.4% over the next 12 months. MGR's Q1’23 update saw a moderation in residential activity with interest rates, weather and labour constraints impacting business but there were no hand grenades in this tough stage of the cycle however with a NAV of $2.50 the stock isn’t an outstanding bargain in our opinion.

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28/09/2022 09:28

Mirvac Group (MGR) $1.91

MGR slipped another -15% this week taking its fall over the last 12 months to a painful 40%, a similar move to GMG. We like this integrated, diversified property group believing the stock is good value trading on an estimated 12.5x valuation for 2023 while it’s also expected to yield 5.3% over the next 12 months but the downtrend remains intact.

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16/08/2022 09:23

Mirvac Group (MGR) $2.18

MGR is an integrated, diversified property group that comprises of an investment portfolio and development business, the stock is reasonably priced trading on an estimated 14.4x valuation for 2022 while it’s expected to yield 4.7% over the next 12 months. The company last reported and paid its reliable 0.052c  dividend in June and with no fresh news likely until December it feels unlikely that MGR will be leading any recovery by the property stocks.

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16/06/2022 09:51

Mirvac Group (MGR) $2.00

MGR offers more diversified exposure to Australian property which can be both a good and bad thing, the stocks have already fallen 37% so far from its 2021 high and although $2 clearly offers some psychological and technical support we see no reason to call a bottom just yet.

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24/11/2021 09:26

Mirvac Group (MGR) $2.94

MGR caught my attention yesterday soaring 5%, significantly outperforming its peers in the process, there was no specific news perhaps fund managers were simply reacting slowly to last week’s AGM. The stocks looking / feeling good in our opinion and a pop above $3.20 wouldn’t surprise i.e. around 15% higher – this makes the stock attractive to MM...

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23/09/2021 09:18

Mirvac Group (MGR) $3.10

Diversified property development group MGR delivered a $550m operating profit in August allowing it to pay a 9.9c dividend on its highest number of residential sales since FY16 but this leads us to question how much better can it get?

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