Mirvac Group (DB:MJB) - Stock Price, News & Analysis

MJB Stock Overview

Founded in 1972, Mirvac is an Australian Securities Exchange (ASX) top 50 company with an integrated asset creation and curation capability.

About the company

MJB fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	3/6
Past Performance	0/6
Financial Health	1/6
Dividends	3/6

Rewards

Trading at 22.3% below our estimate of its fair value

Earnings are forecast to grow 34.35% per year

Risk Analysis

Interest payments are not well covered by earnings

Dividend of 5.07% is not well covered by earnings or cash flows

Mirvac Group Competitors

GSW Immobilien

DB:GIB

€5.0b

Fair Value REIT-AG

DB:FVI

€55.8m

Fibra UNO

BMV:FUNO 11

Mex$100.4b

Covivio

ENXTPA:COV

€4.5b

Price History & Performance

Summary of all time highs, changes and price drops for Mirvac Group
Historical stock prices
Current Share Price	AU$1.25
52 Week High	AU$1.44
52 Week Low	AU$1.05
Beta	1.08
1 Month Change	-6.70%
3 Month Change	1.45%
1 Year Change	-9.39%
3 Year Change	-24.93%
5 Year Change	-32.06%
Change since IPO	-56.06%

Recent updates

Shareholder Returns

	MJB	DE REITs	DE Market
7D	1.4%	2.7%	1.8%
1Y	-9.4%	-0.3%	2.2%

Return vs Industry: MJB underperformed the German REITs industry which returned -0.3% over the past year.

Return vs Market: MJB underperformed the German Market which returned 2.2% over the past year.

Price Volatility

Is MJB's price volatile compared to industry and market?
MJB volatility
MJB Average Weekly Movement	5.2%
REITs Industry Average Movement	2.5%
Market Average Movement	4.8%
10% most volatile stocks in DE Market	10.1%
10% least volatile stocks in DE Market	2.4%

Stable Share Price: MJB has not had significant price volatility in the past 3 months.

Volatility Over Time: MJB's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1972	1,738	Campbell Hanan	www.mirvac.com

Founded in 1972, Mirvac is an Australian Securities Exchange (ASX) top 50 company with an integrated asset creation and curation capability. For more than 50 years, we’ve dedicated ourselves to creating extraordinary urban places and experiences. We have over $35 billion of assets under management, together with a $12 billion commercial and mixed use development pipeline, and a $17 billion residential development pipeline, enabling us to deliver innovative and high-quality property for our customers, while driving long-term value for our securityholders.

Mirvac Group Fundamentals Summary

How do Mirvac Group's earnings and revenue compare to its market cap?
MJB fundamental statistics
Market cap	€5.01b
Earnings (TTM)	-€353.27m
Revenue (TTM)	€1.44b

3.5x

P/S Ratio

-14.2x

P/E Ratio

Is MJB overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
MJB income statement (TTM)
Revenue	AU$2.36b
Cost of Revenue	AU$1.59b
Gross Profit	AU$776.00m
Other Expenses	AU$1.36b
Earnings	-AU$581.00m

Last Reported Earnings

Dec 31, 2023

Next Earnings Date

Aug 08, 2024

Earnings per share (EPS)	-0.15
Gross Margin	32.85%
Net Profit Margin	-24.60%
Debt/Equity Ratio	47.3%

How did MJB perform over the long term?

See historical performance and comparison

Dividends

5.1%

Current Dividend Yield

245%

Payout Ratio

MJB Stock Overview

Rewards

Risk Analysis

Mirvac Group Competitors

DB:GIB

€5.0b

DB:FVI

€55.8m

BMV:FUNO 11

Mex$100.4b

ENXTPA:COV

€4.5b

Price History & Performance

Recent News & Updates

Keppel REIT (Australia) Sub-Trust 8 agreed to acquire 50% stake in 255 George Street, a freehold Grade A office building in Sydney, Australia from Mirvac Wholesale Office Fund I which is managed by Mirvac Group (ASX:MGR) for AUD 363.8 million.

Keppel REIT (Australia) Sub-Trust 8 agreed to acquire 50% stake in 255 George Street, a freehold Grade A office building in Sydney, Australia from Mirvac Wholesale Office Fund I which is managed by Mirvac Group (ASX:MGR) for AUD 363.8 million.

Now 21% undervalued

First half 2024 earnings released: AU$0.051 loss per share (vs AU$0.055 profit in 1H 2023)

Now 21% undervalued

Upcoming dividend of AU$0.045 per share at 5.0% yield

Recent updates

Keppel REIT (Australia) Sub-Trust 8 agreed to acquire 50% stake in 255 George Street, a freehold Grade A office building in Sydney, Australia from Mirvac Wholesale Office Fund I which is managed by Mirvac Group (ASX:MGR) for AUD 363.8 million.

Keppel REIT (Australia) Sub-Trust 8 agreed to acquire 50% stake in 255 George Street, a freehold Grade A office building in Sydney, Australia from Mirvac Wholesale Office Fund I which is managed by Mirvac Group (ASX:MGR) for AUD 363.8 million.

Now 21% undervalued

First half 2024 earnings released: AU$0.051 loss per share (vs AU$0.055 profit in 1H 2023)

Now 21% undervalued

Upcoming dividend of AU$0.045 per share at 5.0% yield

Mirvac Group to Report First Half, 2024 Results on Feb 08, 2024

Now 21% undervalued after recent price drop

Mirvac Group Declares Dividend for the Six Months Ending December 31, 2023, Payable on February 29, 2024

Mirvac Group Announces Management Changes

Mirvac Group (ASX:MGR) and Pacific Equity Partners Secure Assets Fund, L.P. managed by Pacific Equity Partners and Tasman Capital Partners entered into binding agreement to acquire Serenitas Management.

New major risk - Financial position

Full year 2023 earnings released: AU$0.042 loss per share (vs AU$0.23 profit in FY 2022)

Mirvac Group to Report Q1, 2024 Results on Oct 25, 2023

Upcoming dividend of AU$0.053 per share at 4.5% yield

Mirvac Group Announces Fully Paid Distribution for the Six Months Ended June 30, 2023, Payable on August 31, 2023

Mirvac Group, Annual General Meeting, Nov 16, 2023

First half 2023 earnings released: EPS: AU$0.055 (vs AU$0.14 in 1H 2022)

Now 20% undervalued

Upcoming dividend of AU$0.052 per share

Independent Non-Executive Director recently bought €58k worth of stock

Now 20% undervalued after recent price drop

Mirvac Group Declares Dividend for the Six Months Ending December 31, 2022, Payable on February 28, 2023

Mirvac Group Announces CEO Changes

Mirvac Group Announces Retirement Plan of Susan Lloyd-Hurwitz as Chief Executive Officer from June 30, 2023

Mirvac Group, Annual General Meeting, Nov 18, 2022

Full year 2022 earnings released: EPS: AU$0.23 (vs AU$0.23 in FY 2021)

Upcoming dividend of AU$0.051 per share

Mirvac Group Announces Fully Paid Distribution for the Six Months Ended June 30, 2022, Payable on August 31, 2022

Blackstone Reportedly Looks At AMP Capital

Revelop completed the acquisition of Tramsheds in Sydney from Mirvac Group (ASX:MGR).

An unknown buyer agreed to acquire Tramsheds and Quay West Carpark in Sydney from Mirvac Group (ASX:MGR).

First half 2022 earnings: EPS in line with expectations, revenues disappoint

First half 2022 earnings: EPS in line with expectations, revenues disappoint

Mirvac Group Announces Fully Paid Distribution for the Six Months Ended December 31, 2021, Payable on February 28, 2022

Upcoming dividend of AU$0.051 per share

CEO, MD & Executive Director recently bought €120k worth of stock

CEO, MD & Executive Director recently sold €582k worth of stock

Full year 2021 earnings released: EPS AU$0.23 (vs AU$0.14 in FY 2020)

An unknown buyer agreed to acquire Cherrybrook Village in Sydney from Mirvac Group (ASX:MGR) for approximately AUD 130 million.

First half 2021 earnings released: EPS AU$0.10 (vs AU$0.16 in 1H 2020)

New 90-day low: €1.45

LOGOS Reportedly Taps Moelis in Bid for Milestone Logistics

New 90-day high: €1.66

Mirvac Group Announces Management Changes

Mirvac Group Announces Director Resignation - Peter Hawkins

Mirvac Group Announces Changes to Operating Structure

Mirvac Group Not Provides Earnings Guidance for the Full Year of 2021

Full year earnings released

New 90-day low - €1.23

Shareholder Returns

Price Volatility

About the Company

Mirvac Group Fundamentals Summary

3.5x

-14.2x

Earnings & Revenue

Dividends

5.1%