Mirvac stock gains 1.42 percent as new funds chief takes office

Published on 10/06/2026 at 09:42 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Mirvac stock stood at AUD 1.78 on October 6, 2026, as a new funds management chief took office. FY26 residential margin reached 23.9 percent from 14.9 percent.

Mirvac, AU000000MGR9, Illustration mit AI erstellt.

Mirvac stock (ISIN AU000000MGR9) was last at AUD 1.78 on the ASX on October 6, 2026, up 1.42 percent from the prior session. Mirvac also put its new funds management chief, Kit Georgeos, into the role on the same date, according to Mirvac.

FY26 margin recovery stands out

Mirvac's residential gross margin recovered to 23.9 percent in FY26 from 14.9 percent in FY25, a 9.0 percentage-point improvement, according to Land.com.au in a September 18, 2026 review of the results season. The source said the change reflected product mix and Mirvac's controlled land pipeline.

The residential division recorded 2,425 unconditional exchanges in FY26, compared with 2,100 in FY25, while operating earnings per security increased 7 percent, Land.com.au reported. The figures give the margin recovery an operating counterpart rather than leaving it as a single accounting measure.

FY27 guidance keeps debt in view

For FY27, Mirvac guided to operating earnings per security of 13.2 to 13.4 cents and a distribution of 9.9 cents per security, according to Land.com.au. The group is also targeting 2,800 to 3,100 residential settlements in FY27.

Funding remains a key variable because Mirvac's FY27 target carries a weighted average cost of debt of 5.7 percent. Its commercial portfolio showed 98 percent occupancy, 4.5 percent releasing spreads and 5.3 percent like-for-like net operating income growth in FY26, supporting recurring income while development execution remains central to the outlook.

Analysts see value above the market

Macquarie maintained a Buy rating on September 30, 2026, with an AUD 2.20 price target, according to Markets Insider. The target lies 23.6 percent above the AUD 1.78 ASX price used in this article.

The same Markets Insider report published a Strong Buy consensus with an average target of AUD 2.10. That average stands 18.0 percent above the October 6 price, making the analyst view more constructive than the session move alone.

Mirvac stock stays below its yearly high

Mirvac stock was last at AUD 1.78 on the ASX at 4:10 p.m. AEDT on October 6, 2026, with a 52-week range of AUD 1.61 to AUD 2.46. The market capitalization was AUD 7.0 billion and volume reached 16,342,138 securities.