Quote from Cromwell's Insight newsletter
"Those with exposure to residential development had a very strong period of performance. Mirvac Group (MGR) led the way, up 11.2%, while large capitalisation peer Stockland added 4.9%. Peet Limited was also an outperformer in the quarter, gaining 9.3%. Resilience in residential house prices has been surprising, with developers likely to be supported by high net immigration numbers along with limited supply of new housing."
Tends to support theory that those builders who can survive the cash flow, materials and labour problems will have some tailwinds. MGH currently doing buybacks and confirming it is in the midrange of its guidance surely augers well for holders. I am a long term holder but admit I have been clenching my teeth in between reports.
Ann: Investor Presentation May 2023, page-26
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Last
$4.25 |
Change
-0.010(0.23%) |
Mkt cap ! $1.393B | |||
| Open | High | Low | Value | Volume |
| $4.10 | $4.36 | $4.10 | $374.6K | 87.53K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 438 | $4.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.30 | 660 | 1 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| MGH (ASX) Chart |