ASX:MGR

9 stories mentioning ASX:MGRUpdated 21h ago

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Market Chatter: Mirvac Group Nears AU$640 Million Stake Acquisitions in Two Prime Office Towers

Mirvac Group (ASX:MGR) is close to acquiring 50% stakes in two prime office towers, one each in Sydney and Melbourne, from Cbus Property for nearly AU$640 million in total, The Australian reported Thursday.The company plans to house the stakes in Sydney's 5 Martin Place and Melbourne's 171 Collins Street in its flagship office fund, according to the report.Mirvac Group declined' request for comment on the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:MGR

International13d ago

Data Points to Australian Labor Market Changing More in Shape Than Size Due to AI Impact, Jarden Says

The impact of artificial intelligence (AI) on the Australian labor market has been small so far, but the landscape is quickly rapidly, with the data pointing to the labor market changing in shape more than size, Jarden said in a report on Thursday.Deloitte Access Economics' Employment Forecasts report shows that so far, there is no observable divergence in employment growth between AI-disrupted and other occupations since AI emerged in 2022. It flagged a possible near-term inflationary impact from AI infrastructure investment, before any later disinflationary efficiency gain shows through.Occupations disrupted by AI are projected to grow by around 167,200 fewer workers over five years. Industry exposure is concentrated in financial, professional, scientific, and technical services, as well as information media.The Department of Employment and Workplace Relations' (DEWR) AI and Employment in Australia report found that employment in the most AI-exposed occupations grew 5.6% since Nov. 2022, compared with 9.5% in the least-exposed occupations. By February, employment sat around 2% below where the trend from before the launch of ChatGPT would have placed it.However, US data shows disruption at both junior and senior levels, with particular concern around entry-level roles.AI is expected to differentiate performance within the office real estate sector, with non-core suburban and metro markets at most risk, while premium-grade central business district assets forecast to prove relatively more resilient.Among real estate investment trusts, Dexus (ASX:DXS) carries the highest core-market weighting at 53%, ahead of GPT Group (ASX:GPT) at 31% as well as Mirvac (ASX:MGR) at 20%, positioning them comparatively better than portfolios skewed to secondary, non-core stock.Proposed national AI standards are expected to add costs for data center developers, but also bring faster approvals and greater certainty.

ASX 200ASX:DXSASX:GPTASX:MGR

Asia13d ago

ASX Most Active Stocks

Here are the five most actively traded big-cap stocks on the Australian Securities Exchange on Friday.EQ Resources (ASX:EQR): 23 million sharesArafura Rare Earths (ASX:ARU): 11.3 million sharesMirvac Group (ASX:MGR): 11.3 million sharesLiontown (ASX:LTR): 9.8 million sharesAMP (ASX:AMP): 9.6 million shares

ASX 200ASX:AMPASX:ARUASX:EQRASX:LTRASX:MGR

Asia36d ago

ASX Most Active Stocks

Here are the five most actively traded big-cap stocks on the Australian Securities Exchange on Wednesday.Arafura Rare Earths (ASX:ARU): 24.7 million sharesGQG Partners (ASX:GQG): 17.2 million sharesMirvac Group (ASX:MGR): 12.2 million sharesMinerals 260 (ASX:MI6): 9.4 million sharesSouth32 (ASX:S32): 8.7 million shares

ASX 200ASX:ARUASX:GQGASX:MGRASX:MI6ASX:S32

Asia42d ago

Australian REIT Issuers' Performance Should Remain Resilient Despite Uncertainties, Fitch Says

The performance of Real Estate Investment Trust (REIT) issuers in Australia and Southeast Asia should remain strong despite uncertainties around trade, underpinned by their asset quality and revenue, Fitch Ratings said in a report on Thursday.Most issuers benefit from long weighted-average lease expiry profiles, well-spread schedules for the expiry of leases, as well as tenant leases with operational cost pass-through provisions, annual rental escalations, or inflation indexation. However, suburban offices and business parks remain under pressure amid high vacancies in most markets as uncertainty increases.Australia's Mirvac Group (ASX:MGR) was assigned an "A-" issuer default rating with a stable outlook, due to steady recurring cash flow based on a quality portfolio.The "bbb+" property portfolio rating supports the firm's rating as Fitch expects the highest-rated property portfolios to include high-quality assets in attractive locations, supporting an issuer's ability to draw investors and lenders to leverage or sell their assets through the cycle.It has the lowest rental income risk among its peers. Its portfolio occupancy has remained above 95% through the cycle, excluding build-to-rent projects that are scaling up, supported by high tenancy demand and lease renewal rates.Mirvac has a AU$7 billion development pipeline, and its development exposure is likely to be above 10% of assets. It supported its development pipeline through capital partnerships, asset sales, and pre-sale hurdles before construction, while maintaining balance-sheet flexibility and portfolio strength.It has strong access to capital, including equity market access, capital partnerships, and asset sales that help fund its development pipeline.

ASX:MGR

Asia59d ago

Mirvac Group in Position to Boost Return on Invested Capital, Sustain EPS Growth, Jefferies Says

Mirvac Group (ASX:MGR) could be in a position to improve its return on invested capital and sustain earnings per share growth over fiscal year 2026 to fiscal year 2028 if the macro outlook turns more constructive, Jefferies said in a May 31 note.The company's continued office down-weighting strategy should mitigate income and sentiment pressures, alongside natural cash earnings accretion from the recycling out of capital expenditure-intensive assets, the investment firm said."We would expect further living-sector investment to be done on a capital-efficient basis, which should support the elevated and upward trajectory of returns," Jefferies said.The equity research firm believes fiscal year 2027 and fiscal year 2028 are gearing up to be "materially stronger" settlement years for Mirvac, underpinned by a growing active project base and decade-low default rates. While the company is well-positioned to boost sales and settlement volumes, the near-term macro backdrop does create some uncertainty on its fiscal 2027 demand setup.Jefferies started coverage of Mirvac with a hold rating and price target of AU$1.82.The investment firm said it could become more positive on the company on signs of an improving housing cycle, easing construction cost inflation, and higher trending auction clearance rates.Mirvac shares fell 2% in recent Monday trade.

ASX:MGR

Asia98d ago

Australian Shares Continues to Decline; Santos Reports Lower Q1 Revenue, Higher Production

Australian shares again fell at Thursday's close as oil prices gained on the continued closure of the critical Strait of Hormuz in the Middle East.The S&P/ASX 200 Index declined 0.57%, or by 50.20 points, to close at 8,793.40.Brent crude oil futures gained 1.4% on Thursday to reach $103.3 per barrel. Iran captured two container ships seeking to exit the Gulf via the Strait of Hormuz.On Wall Street, the S&P 500 rose 1.1%, and the Nasdaq climbed 1.6% to reach new record high points as the earnings season started. The Dow Jones rose 0.7%.On the domestic front, The Flash Australia PMI Composite Output Index rose to 50.1 in April from 46.6 in March, moving above the neutral threshold as renewed growth in services activity offset a faster decline in manufacturing output, according to a survey by S&P Global.Australia's private sector activity stabilized in April after March's decline, as a modest recovery in services was offset by continued weakness in manufacturing amid soft domestic demand, rising cost pressures, and supply chain disruptions linked to Middle East tensions.Job advertisements in Australia in March fell 0.4% month on month, 1.3% quarter on quarter, and 2.9% year on year, according to data published by Seek.In company news, Santos (ASX:STO) reported first-quarter sales revenue of about $1.27 billion, down from $1.29 billion in the year-ago period. Sales volume for the quarter was 24.2 million barrels of oil equivalent (mmboe), up from 23.3 mmboe a year earlier, while total production increased to 22.5 mmboe in the first quarter from 21.9 mmboe a year ago. Its shares rose 3% on market close.Ampol (ASX:ALD) submitted its final remedy package to the Australian Competition and Consumer Commission (ACCC) on Wednesday for its proposed acquisition of EG Australia, offering to increase the number of planned divestments to 41 sites from 37. Its shares closed up over 1%.Lastly, Mirvac Group (ASX:MGR) said residential sales for the fiscal third quarter reached 592 sales, up 12% year on year. The company said year-to-date settlements reached 1,076, up 15% year on year, with about 96% of the fiscal 2026 target lot settlements secured and margins on track to be within the 18% to 22% target range. Its shares were down over 1% on market close.

ASX 200ASX:ALDASX:MGRASX:STO

Asia98d ago

ASX Midday Sector Update: Energy Stocks Gain, Real Estate Slides

Energy stocks were the only sector in the green around midday trading Thursday, rising 2% as oil prices ticked higher amid continuing tensions between the US and Iran over the Strait of Hormuz.Santos (ASX:STO) was advancing over 2% after saying first-quarter production increased to 22.5 million barrels of oil equivalent (mmboe) from 21.9 mmboe a year earlier.Meanwhile, real estate stocks bore the brunt of broader market declines and were down 1.6%.Mirvac Group (ASX:MGR) reported 592 residential sales for the fiscal third quarter, up 12% year on year. The company's shares slid nearly 2%.

ASX 200ASX:MGRASX:STO

Asia98d ago

Mirvac Group Posts 12% Rise in Fiscal Q3 Residential Sales, Reiterates Fiscal 2026 Operating EPS Guidance

Mirvac Group (ASX:MGR) said residential sales for the fiscal third quarter reached 592 sales, up 12% year on year, according to a Thursday Australian bourse filing.The company said year-to-date settlements reached 1,076, up 15% year on year, with about 96% of the fiscal 2026 target lot settlements secured and margins on track to be within the 18% to 22% target range.Land lease settlements were 333, up 14% year on year, with sales rising 42% year on year to 428, while office and industrial occupancy was maintained at about 97% with minimal near-term expiry risk, the filing added.Mirvac reiterated its fiscal 2026 guidance, targeting operating earnings per share of AU$0.128 to AU$0.13, representing growth of 6.7% to 8.3%, and a distribution of AU$0.095 per share, representing growth of 5.6%.The company's shares fell nearly 2% in recent Thursday trade.

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