Mirvac Rides the Low-Interest-Rate Bandwagon; FVE Increased to AUD 2.05
No-moat-rated Mirvac reported fiscal 2017 earnings of AUD 14.4 cents per security, consistent with guidance. We’ve upgraded our medium-term forecasts to reflect stronger-than-expected growth in office rents and higher margins for residential developments. Our fair value estimate increases by 3% to AUD 2.05, and the firm still screens as slightly overvalued, with shares currently trading around AUD 2.30.Mirvac’s retail division was the standout, with trading performance significantly ahead of p...
Mirvac Group is engaged in real estate investment, development, third party capital management and property asset management. Co. performs these activities across three primary segments: Office & Industrial, which manages the office and industrial property portfolio to produce rental income along with developing office and industrial projects; Retail, which manages the retail property portfolio, including shopping centers, to produce rental income; and Residential, which designs, develops, markets and sells residential properties to external customers including masterplanned communities and apartments in primary metropolitan markets in conjunction with strategic partners.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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