Winners 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.
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Mirvac is a leading, diversified Australian property group, with an integrated development and asset management capability. We have 45 years of experience in the property industry and an unmatched reputation for delivering superior products and services across our businesses.
Principally located in Australia’s four key cities of Sydney, Melbourne, Brisbane and Perth, Mirvac owns and manages assets across the office, retail and industrial sectors, with over $18 billion of assets currently under management. Our development activities allow us to create and deliver innovative and high-quality commercial assets and residential projects for our customers, while driving long-term value for our securityholders.
Our integrated approach gives us a competitive advantage in the creation of quality assets across the entire lifecycle of a project; from planning through to design, construction and development, leasing, property management and long-term ownership.
Recognising the contribution we make to Australia’s major cities, our purpose, Reimagine Urban Life, inspires us to question how and why we do things. With a strong focus on our customers, we’re asked to think about how we can redefine the landscape and create more sustainable, connected and vibrant urban environments, leaving a lasting legacy for generations to come.
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.
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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.
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Upgrades keep flowing, this time from protective equipment maker Ansell and property and retail group Mirvac, both of whom indicated stronger second quarters.
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The timing of residential developments and re-leasing of office space are uncertainties confronting Mirvac Group. Is this why guidance was underwhelming?
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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.
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The Equal-weight rating and $2.60 target are retained.
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The analyst sees enough upside to retain the Outperform rating. The target price increases to $3.13 from $3.06.
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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.
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UBS retains a Buy rating and raises the target to $3.15 from $2.84.
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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.
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