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Highlights
- For the third quarter ending 31 March 2023, MGR's occupancy rate across its investment portfolio, with around 139,000 sqm leased, stood at 97.5%.
- The company achieved 1,133 residential sales and settled 1,126 residential lots in the current financial year through 31 March 2023.
- The top 10 shareholders of MGR together hold around 37.37% of the company’s total outstanding shares.
Mirvac Group (ASX: MGR) is an Australian development and management property group. The ASX-listed group, founded in 1972, comprises residential, office & industrial, retail and build-to-rent developments.
For the third quarter ending 31 March 2023, the company's occupancy rate across its investment portfolio, with around 139,000 sqm leased, stood at 97.5%. The company also progressed well on its asset disposal program and development pipeline.
Worth mentioning here is that the company achieved 1,133 residential sales and settled 1,126 residential lots in the current financial year through 31 March 2023. MGR also advanced its fund management strategy with several ongoing partnering initiatives.
Here is a look at its past financials:

MGR FY23 Outlook
MGR expects operating earnings per share (EPS) of at least 14.7cpss and residential settlements of nearly 2,200 lots in FY23. The company aims to distribute 10.5cpss as dividends in FY23, representing 2.9% growth over FY22.
Further, the company said it was progressing well with its asset sale program, aimed at improving the resilience of its investment portfolio. Also, it is undertaking a capital partnership strategy and tapping opportunities to boost its development pipeline.
Top 10 Shareholders
The top 10 shareholders of MGR together hold around 37.37% of the company’s total outstanding shares. Vanguard Investments Australia Ltd. and APG Asset Management N.V. hold maximum stakes in the company at ~9.51% and ~6.18%, respectively.

MGR’s Stock Price Performance
MGR shares closed 1.38% higher at AUD 2.210 on Thursday, 15 June 2023. In the last one month, the stock has corrected by 6.38%, and on a YTD basis, it is up by 3.77%. The stock has a 52-week low and 52-week high of AUD 1.865 and AUD 2.445, respectively, and is currently trading below the mid-range of the 52-week-high-low levels.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, is 15 June 2023. The reference data in this report has been partly sourced from EODHD/Others.






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