Mirvac Group (ASX:MGR)

APAC company
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Company Info - MGR

  • Market CapAUD0.000m
  • SymbolASX:MGR
  • IndustryReal Estate
  • SectorREIT - Office
  • Currency
  • ISINAU000000MGR9

Company Profile

Mirvac is known as one of Australia’s largest residential developers, particularly apartments. Earnings from residential development are volatile, generating about a fifth of EBIT in fiscal 2019, despite only about 13% of the group’s invested capital being allocated there. We believe that was a cyclical high and that development earnings will moderate from the 2019/2020 high point. About 80% of Mirvac’s earnings come from a relatively predictable commercial property portfolio, more than half of which is office and another fourth in retail, a small industrial portfolio, and a fledgling build-to-rent residential portfolio. The company is gradually allocating more capital to passive property ownership, and within that, trimming retail exposure and adding office, industrial, and residential.Mirvac Group owns a diversified property portfolio of retail, commercial, residential and car park properties across Australia. The company's business segments are Investment and Development.

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