Ann: MGR FY20 Distribution and Valuation Update, page-4

during the 2008 GFC, Mirvac dropped to 58c/share, this is the worst downturn since 1870 according to ABC radio, so why is this stock still above $2? and not closer to $1 or less?
The only good thing i see is MGR has a AAA credit rating from moodys/fitch, thats about it, and they only have $200 million of debt due in the next 2yrs.
Time will tell what happens in SEP when job keeper ends, % rates will fall, but who will take out a new home loan when most people will be worried about staying in their job.
MGR will survive this, but its definately going sub $2 again, they will have to cut their divvy eventually.