Mirvac stock gets a new funds management chief

Published on 10/07/2026 at 05:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Mirvac stock traded at AUD 1.82 on October 7, 2026, as Kit Georgeos began leading funds management. FY26 revenue rose 12 percent to AUD 2.98 billion.

Mirvac, AU000000MGR9, Illustration mit AI erstellt.

Mirvac stock (ISIN AU000000MGR9) was trading at AUD 1.82 on the ASX on October 7, 2026, up 1.79 percent from the previous close. The latest leadership change gives the move a company-specific angle: Kit Georgeos became CEO of Funds Management on October 6.

New leader takes funds role

Mirvac announced on September 15, 2026, that Georgeos would lead the funds management business from October 6, including wholesale investment vehicles, capital partnerships and investor relationships. She brings more than 20 years of experience in real estate investment, funds management and capital markets, according to the company announcement.

The appointment matters because funds management can broaden recurring fee income beyond property development and asset sales. Mirvac said the role also covers investor relationships, placing capital partnerships at the center of the new executive remit.

FY26 revenue rose 12 percent

Simply Wall St reports that Mirvac generated FY26 revenue of AUD 2.98 billion, up 12 percent from FY25. Net income reached AUD 677.0 million, compared with AUD 68.0 million in FY25, while EPS increased to AUD 0.17 from AUD 0.017.

The comparison shows a sharp earnings recovery, but the revenue result was weaker than analyst estimates by 33 percent in the same FY26 review. For investors, the key question is whether funds management growth can make earnings less dependent on property-cycle timing.

Consensus target stays above price

Investing.com lists a Buy consensus from 11 analysts, with 8 Buy ratings, 3 Hold ratings and 0 Sell ratings. The average 12-month target is AUD 2.12, with a high of AUD 2.50 and a low of AUD 1.89.

Against the AUD 1.82 ASX price, the average target lies 16.48 percent above the stock. The market is therefore valuing Mirvac below the analyst midpoint even after the 1.79 percent session gain.

ASX price remains below yearly high

Mirvac was trading at AUD 1.82 on the ASX at 2:18 p.m. AEDT on October 7, 2026. The session range was AUD 1.79 to AUD 1.83, the 52-week range was AUD 1.61 to AUD 2.46, and market capitalization stood at AUD 7.2 billion.