# MGR - Mirvac Group



## markrmau (3 May 2005)

"MGR's current FY06e yield of 8.2% represents a 80bpt premium to the LPT sector average and a 100bpt premium to Stockland (SGP.AX, 1L, $5.77). In our view only a 50bpt premium over SGP is warranted. The time to buy MGR is NOW."

April 27, 2005...

However, they have been quite good overall - NCM - sell ORI - sell WYL -sell, all well before the big SP drops.


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## Investor (3 May 2005)

*Re: SmithBarney on MGR*

In another thread on profit downgrades, I had already posted earlier today that MGR (Mirvac) announced a profit downgrade today and the price fell 11.6% today.


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## markrmau (4 May 2005)

*Re: SmithBarney on MGR*

My post wasn't very clear. Up until now, I had been impressed with SB as they had called a sell against the mainstream consensus - ncm, ori, wyl - and they turned out to be correct.

However they got mgr wrong.

I note that SB and jp morgan say that while they got it wrong, the worst has come out and it is still a buy.

SB also notes that the appartment starts which walloped the market yesterday is a volatile figure.

Anyway, just some extra info. I don't own any of these companies (or FWD for that matter)


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## markrmau (4 May 2005)

*Re: SmithBarney on MGR*

Gee MGR is down heavily at the moment as well.

I haven't seen a blow like that since Divine Brown walked up to Hugh Grant's car.


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## sam76 (4 May 2005)

*Re: SmithBarney on MGR*

I just spat my lunch all over my keyboard after reading that last post - very funny!


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## GreatPig (29 July 2005)

*MGR - Mirvac*

A rising triangle here. I wonder if the current movement will push through the top shortly.

Cheers,
GP


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## GreatPig (1 August 2005)

*Re: MGR - Mirvac*

Yup.

Bought some this morning.

Cheers,
GP


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## Lachlan6 (28 May 2007)

OK my first crack at posting a chart. I am such an amateur when it comes to computers. Shorted (MGR) today CFD's as broken through strong support and 200 day EMA. Notice its lowsy short term rallies in April and May all ended at 50% fibonacci. Tried to include 15 day EMA but couldnt put on chart. Anyway this is more to see if it all will work. Cheers.


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## prana (22 July 2008)

My fingers are getting itchy. MGR is now trading below 2001 prices before the great asset bubble boom begun. In fact, the earnings strength is still quite good, despite the forecast/divi slump - cutting divs is important and smart in my opinion. Home prices have dropped, and activity slowed, but this sort of slump is pricing in American style 50% drop in asset values and prolonged crisis. Even if Aussie housing was to drop 30% now, it would still be relatively cheap.

This cyclical is starting to look oversold to me. Any opinions or have I missed a bit of crucial news about the fundamentals of the business itself being completely FUBAR'd? Happy to stand corrected for some greater wisdom.

ps. I have no current interest, though I am interested


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## Bushman (22 July 2008)

prana said:


> My fingers are getting itchy. MGR is now trading below 2001 prices before the great asset bubble boom begun. In fact, the earnings strength is still quite good, despite the forecast/divi slump - cutting divs is important and smart in my opinion. Home prices have dropped, and activity slowed, but this sort of slump is pricing in American style 50% drop in asset values and prolonged crisis. Even if Aussie housing was to drop 30% now, it would still be relatively cheap.
> 
> This cyclical is starting to look oversold to me. Any opinions or have I missed a bit of crucial news about the fundamentals of the business itself being completely FUBAR'd? Happy to stand corrected for some greater wisdom.
> 
> ps. I have no current interest, though I am interested




Spot on IMO. NTA is $3.95 after the current valuation process. Distributions have been slashed to 20 cps from 32 cps ie a 37.5% decrease in distributions. Gearing is a slow 33%. 

Where is the risk left? Earnings - no. Valuations - err NTA is $3.95 so these will need to be hammered. No reason for that to happen. 

Aussie residential will NOT decrease by 30 to 50%. We are forecasting net immigration inflows of 200,000 odd in the next year for gawds sake. Where will they live?


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## So_Cynical (22 July 2008)

prana said:


> My fingers are getting itchy. MGR is now trading below 2001 prices before the great asset bubble boom begun.
> 
> This cyclical is starting to look oversold to me.




LOL..prana 

Mirvac was over sold 2 weeks ago @ $1.85...how were your fingers feeling then?

Mirvac has some great property's and good businesses..if u believe that property here 
wont be hit hard, or as hard as the US and Euro...then MGR look like great value.

MGR has certainly bounced well off the $1.85 of a couple of weeks ago.


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## tm1234 (29 October 2008)

im an amateur, could anybody give me any reasoning for the steep decline in MGR's sp over the past week or so


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## So_Cynical (29 October 2008)

tm1234 said:


> im an amateur, could anybody give me any reasoning for the steep decline in MGR's sp over the past week or so




Ill have a go


1 Mirvac was one of the first fund managers to freeze redemption's a couple 
       of months ago, and now the rest of the industry is following suit and the whole 
       sector is taking a share price hit.


2 Mirvac have a lot of debt


3 Mirvac have alot of property


4 Mirvac manage alot of hotels

All negatives.


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## saiter (13 November 2008)

well MGR seems to doing really nicely if you've been trading it on an intraday basis... I see support at $0.97 and resistance at $1.80. I'm too afraid to enter though, my broker doesn't offer stop losses


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## esolano (23 June 2009)

First time poster guys. Also nube... so please be kind.
Any thought on this. I know how the property market's been doing but is it good value at 1.09 for long term?


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## esolano (24 June 2009)

a nice little rally for this in the last hour of trading... 
I'm starting to think no news is good news for stocks.


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## zzaaxxss3401 (13 April 2010)

Disclosure: current holder of MGR.

Just interested in thoughts about the SPP announced at $1.40 recently. It's only a 5% discount at the time of the announcement. So assuming you purchased 1000 @ $1.40 you'd be up for $1400. However, the current share price is already $1.40 (today) and if it dips 2c before the closing date of 6th May 2010 (highly likely), it would be cheaper to buy those shares on (say) Commsec (with a $20 trade cost).

If you are intending to buy more (say 2000), the price only has to drop another 1c to be the same price.

Am I missing something, or is it going to be less effort to just set a "buy" on Commsec and guarantee the number of shares I might want - rather than filling out the SPP form?


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## mellifuous (17 April 2010)

Hi, is there a thread for investors in the Mirvac Aqua HIF ?

I've looked at the proposal for the meeting next week and I'm wondering what investors views are.

Thanks.


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## nellyei (5 May 2011)

any news on this stock

possible acquisition by lend lease?


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## qldfrog (28 May 2013)

2011 for the last post????
Anyone wanting to share feelings and opinion on the SPP on offer?


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## qldfrog (28 May 2013)

well actually decision is quickly made:
at $1.69 a share, it is higher than the EOD price yesterday so why bother and risk.
let's keep it aside in case of a rebound....


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## ASAP (2 July 2013)

big swings lately anyone have any idea why?


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## nulla nulla (3 July 2013)

ASAP said:


> big swings lately anyone have any idea why?




Because Mirvac also develops residential propery, drops in the Reserve Bank Interest Rate encourage property buyers and the share price rises. Because of the sell down of the Aud$, off-shore investors are dumping aussie stocks including A-REIT's like Mirvac, so Mirvac share prices falls until it becomes attractive to local investors and/or the Aud$ stabilises and it becomes attractive to off-shore investors again.


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## ASAP (3 July 2013)

I am new to this new whole forum thing....
But is it common knowledge that Mirvac pre GFC was positioning it's self to be taken over by a bigger REIT or international buyer.
They pretty much wanted to be taken over.


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## rbgmauq (4 July 2013)

Momentum picking up. Technical indicator shows a buy with the 2.088 target price in six months.  http://au.stoxline.com/q_au.php?symbol=mgr&c=ax


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## skc (4 July 2013)

ASAP said:


> I am new to this new whole forum thing....
> But is it common knowledge that Mirvac pre GFC was positioning it's self to be taken over by a bigger REIT or international buyer.
> They pretty much wanted to be taken over.




It may have been the case but who cares... GFC was over 5 years ago?! 

Whatever rationale that applied back then surely doesn't apply anymore.

MGR is a $6B entity and there hasn't been a deal that big for years.


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## magnate (28 September 2014)

Looks like a confirmed break of a fairly strong uptrend. See attached weekly chart


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## VSntchr (12 February 2015)

Am I reading this correctly that MGR has their USD denominated debt only hedged 64%?


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## notting (27 July 2017)

Their US Denominated debt appears to be creating a bit of a short squeez.
Short again me thinks


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## notting (19 September 2017)

Double top in turning with property?


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## notting (22 November 2017)

Gee looking at that break you would think we were about to have a housing boom - 
Hmm, wonder how that 2.37 support line will hold?!


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## notting (4 January 2018)

Fail?


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## Ann (23 March 2019)

This looks to have slipped by everyone. Rising Twiggs weekly Money Flow, Bullish Positive and Negative Volume indicators, rising price. 4.12% divie


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## Cam019 (23 March 2019)

Ann said:


> This looks to have slipped by everyone. Rising Twiggs weekly Money Flow, Bullish Positive and Negative Volume indicators, rising price. 4.12% divie
> 
> View attachment 93224



I'm in it. Only for the last 2 weeks though, not since January.


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## Trav. (21 October 2020)

MGR trying to break out of the recent sideway action. 

Weekly chart below


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## Trav. (4 January 2021)

Just revisiting this thread and MGR did break out above $2.35 for a high of $2.84 in December and closed at $2.65 today.

I am looking at the possibility of a retracement < $2 as per chart marked up below, long shot but it did catch my eye


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## divs4ever (20 May 2022)

REQUISITION OF MEETING BY AWOF UNITHOLDERS

Mirvac Group (“Mirvac”) [ASX: MGR] understands that unitholders have written to AMP Capital Investors Limited (“AMPCI”) as trustee of AMP Capital Wholesale Office Fund I and AMP Capital Wholesale Office Fund II (“AWOF”) to requisition a unitholder meeting to vote on the replacement of AMPCI as trustee of AWOF with Mirvac Funds Management Australia Limited (“Change of Trustee”), and other proposed amendments to the constitutions of AWOF.
To pass the resolutions for the Change of Trustee, at least 50% of the total votes that may be cast by AWOF unitholders entitled to vote on the resolutions are required to vote in favour. Michelle Favelle Group Company Secretary +61 2 9080 8376

 i hold MGR ( 'free-carried ' )

 am not sure how much  a  successful  vote to change trustee  will affect MGR  share-holders  ( but am damned glad i got out of AMP in late 2018 )


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## divs4ever (18 July 2022)

Mirvac Group (“Mirvac”) [ASX: MGR] has been notified that the requisite majority of unitholders of AMP
Capital Wholesale Office Fund (“AWOF”) has approved a resolution to replace the current trustee, AMP
Capital Investors Limited ("AMPCI"), with Mirvac Funds Management Australia Limited (“Mirvac Trustee”).
AWOF is comprised of 11 prime grade assets concentrated in the Sydney and Melbourne markets. The
portfolio is underpinned by high quality modern assets such as Quay Quarter Tower, Sydney, along with
iconic assets such as Collins Place, Melbourne, and features a WALE of 5.5 Years, an occupancy rate of
92.5% (by income) and NABERS Energy Rating of 5.3 Stars1.
It is expected that the Mirvac Trustee will become trustee of AWOF in mid-October 2022 (“Effective Date”).
From the Effective Date, Mirvac will be the investment manager and property manager (in respect of
AWOF’s wholly owned assets) of AWOF.
The required majority of AWOF unitholders did not vote in favour of the constitutional amendments relating
to the governance of AWOF and to give effect to the liquidity facility (described below). It is, however,
expected that the Mirvac Trustee will propose equivalent constitutional amendments at a subsequent
meeting of the AWOF unitholders within 20 business days following the Effective Date. Once these
constitutional changes are made, AWOF will be known as the Mirvac Wholesale Office Fund. Subject to
those amendments being approved by AWOF unitholders, Mirvac will then offer AWOF a total of $500m of
liquidity. It is expected that this liquidity will be utilised within six months of the Effective Date.
As a result of the transaction, Mirvac’s third-party capital under management will grow by ~76%, increasing
to ~$18.1bn2.
Mirvac’s CEO & Managing Director, Susan Lloyd-Hurwitz, said “We are pleased to have been entrusted
by AWOF unitholders with the management of one of Australia’s leading unlisted office funds. The
addition of the $7.7bn fund is an acceleration of Mirvac’s long stated strategy to grow our third-party
funds under management with aligned capital partners, and further enhances our position as a top
tier manager of prime office assets in Australia.
“We are pleased to offer AWOF unitholders reduced fees, a standalone trustee with a majority
independent board and access to Mirvac’s market-leading, integrated asset creation and curation
capabilities and platform including our $9.2bn3 office and mixed use development pipeline. Today’s
vote by AWOF unitholders demonstrates their faith in Mirvac as a stable platform with a clear focus
on governance and a long track record of delivering unitholder value.
“AWOF’s modern, high-quality portfolio, recently enhanced by the completion of Quay Quarter, is
strongly aligned with Mirvac’s investment strategy and existing portfolio. We look forward to working
with unitholders to continue to enhance the performance of AWOF over time.”

=========================================================

DYOR

i hold MGR ( 'free-carried ' )

hmmm , i hadn't been watching this lately


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