Mirvac Group released its September quarter update. Rent collections/ residential sales showed positive momentum but office developments were muted. The group sold circa 400/month, a slight decline from the circa 500 sales reported in June.
Morgan Stanley notes the group has $921m worth of contracts on hand, the weakest since 2012 but reflective of
No guidance was provided for FY21.
Morgan Stanley maintains its Equal Weight rating with a target of
Sector: Real Estate.
Target price is
© 2020 Acquisdata Pty Ltd., source