Mirvac’s warning shakes property sector
Will Mirvac (ASX:MGR) be a bellwether for the property sector for the current financial year with its warning of lower earnings for 2024-25?
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Mirvac reports $366 million loss
Property and retailing group Mirvac (ASX:MGR) has recorded statutory losses totaling $366 million for the 18 months ending December 31, with an additional $201 million loss for the six months leading up to that date. The company experienced a significant downturn, transitioning from a $215 million profit in December 2022 to a loss of $201 million in December 2023.
Read MoreBank reporting, Telstra, News Corp, Mirvac
Fund Manager Chris Pedersen discusses bank reporting, Telstra, News Corp and Mirvac Group.
Read MoreTough times ahead for Mirvac
The year 2023-24 is turning out to be quite challenging for property developer and investor Mirvac, as the company faced a loss for the period ending on June 30.
Read MoreRates Up, Prices Down – Mirvac Hits the Wall
Mirvac ran out of puff in the December half, as rising rates, falling property prices and a weakening in the value of some of its property holdings combined to send earnings lower.
Read MoreBridge Street Bites: VVA, MGR
Glad tidings from another wobbly ASX trading session Tuesday with Viva Leisure continuing its strong turnaround, while Mirvac announced some changes in its boardroom.
Read MoreMirvac Looking to Build on Decent Year
Securities in property manager and investment group Mirvac jumped nearly 4% on Thursday after it revealed a better-than-expected net result of $906m for the year to June 30.
Read MoreWinners and Losers Among the Industrials
The pandemic and lockdowns continue to buffet companies such as Downer, EDI, CIMIC and Mirvac, as their December half or full year reports showed on Thursday.
Read MoreMGR – Credit Suisse rates the stock as Outperform
The analyst sees enough upside to retain the Outperform rating. The target price increases to $3.13 from $3.06.
Read MoreRevals Sweeten Honey Pot for Mirvac, Goodman
Rising global property valuations helped the annual results of majors Goodman Group and Mirvac in the year to June 30, although the news helped neither’s share price on Thursday.
Read MoreMGR – Credit Suisse rates the stock as Outperform
The target price is increased to $3.06 from $2.63, a function of earnings changes as well as the removal of discounts for the office and retail portfolios.
Read MoreMGR – UBS rates the stock as Buy
UBS retains a Buy rating and raises the target to $3.15 from $2.84.
Read MoreAnsell, Mirvac Up Guidance
Upgrades keep flowing, this time from protective equipment maker Ansell and property and retail group Mirvac, both of whom indicated stronger second quarters.
Read MoreShort-Term Uncertainties Weigh On Mirvac
The timing of residential developments and re-leasing of office space are uncertainties confronting Mirvac Group. Is this why guidance was underwhelming?
Read MoreDividend Yields Expected to Increase in 2021
2020 will always be remembered as the year of COVID-19 and lockdowns: a rollercoaster ride for anyone monitoring their investments, a nightmare scenario for anyone relying on dividend income.
Read MoreDo Less Risky Stock Market Exposures Really Exist?
With a sense of raw panic descending on global stock markets, the question is whether there are any truly safe havens in terms of remaining exposed to equities?
Read MoreMGR – Credit Suisse rates the stock as Neutral
First half results were in line with expectations. The main growth driver in the future is the commercial development pipeline, in Credit Suisse’s view.
Read MoreMirvac Dividend Higher As Valuations Drag On Profit
Securities in property group, Mirvac fell more than 3% yesterday after investors gave the interim result a thumbs down.
Read MoreMGR – UBS rates the stock as Sell
First-quarter update was mixed, UBS observes, with highlights being the ongoing strength in the commercial & industrial portfolio as retail sales growth slows marginally. Residential releases were slightly disappointing.
Read MoreMGR – Credit Suisse rates the stock as Upgrade to Neutral from Underperform
Credit Suisse reiterates a positive view on the quality of the company’s office portfolio, expecting that operating income growth will be healthy and derived from rent reviews and the rolling out/completion of the commercial development pipeline.
Read MoreMGR – UBS rates the stock as Sell
FY19 results were in line with UBS expectations. FY20 guidance has been updated to reflect the Tuckerbox transaction not proceeding. Distribution growth guidance is maintained at 5%.
Read MoreMirvac Shakes Off Property Slowdown With Solid Result
Mirvac’s securities enjoyed a very good day out yesterday in the wake of the property and retailing groups solid 2018-19 result.
Read MoreMirvac Completes $750m Cap Raising
Not a bad outcome for Mirvac – on a day when the wider market sold off, its shares only lost just over 2% in value after the property group closed its $750 million capital raising.
Read MoreMirvac Group Taps Instos With $750m Placement
Mirvac is raising $750 million through an institutional issue placement at $2.97 a share. The company will offer shareholders the right to take up a total of $75 million in new securities in addition to the larger raising.
Read MoreOffice Remains The Key Pick In A-REITs
The outlook for the A-REIT sector is relatively benign, as brokers note portfolio fundamentals are healthy and gearing is generally low.
Read MoreRevaluations Underpin Mirvac Profit
A subdued reception from the market to yesterday’s 2017-18 annual results from property group Mirvac which revealed its third billion dollar result in as many years – thanks to some nice revaluations.
Read MoreRevaluation Gains Lift Mirvac
It wasn’t housing (although that did very well), but the office and industrial property assets of Mirvac (MGR) were the drivers in the company’s earnings topping the $1 billion mark for the first time in 2015-16.
Read MoreSydney, Melbourne Housing Lift Mirvac
Like Stockland, AV Jennings (AVJ) and Boral (BLD), Mirvac (MGR) has confirmed it rode the housing boom very nicely and very profitably in the six months to December 31.
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