Mirvac on Strong Path After Restocking Residential Pipeline -- Market Talk

Dow Jones
02/18

0046 GMT - Mirvac's residential business looks strong to Citi. Mirvac exchanged 1,304 residential lots in 1H, up 38% on year. Based on previously reported 1Q exchanges of 619, this implies 2Q sales of 685 and suggests a pick-up in pace, analyst Suraj Nebhani says. Mirvac's 1H EPS beat consensus hopes by 8% and Citi's estimate by 12%. "While residential capital partnering contributed a significant portion of today's beat, we believe Mirvac is on a strong path here with a larger restocked pipeline, and project activation in residential and land lease likely to deliver earnings growth into future years," says Citi. Mirvac recently secured two development projects, including one for 800 apartments at Blackwattle Bay in Sydney. Mirvac is up 5.2% at A$2.03 today. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

February 17, 2026 19:46 ET (00:46 GMT)

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