MENU

Why the Mirvac share price hit a record high this week

The Mirvac Group (ASX: MGR) share price hit a record high of $2.75 today after the residential construction and commercial property group reported a stronger-than-expected profit for the half year ending December 31 2018.

For the period Mirvac reported a 26% increase in operating profit to $290 million and guided for operating earnings per share for fiscal 2019 to come in between 16.9 cents to 17.1 cents. It also confirmed distribution guidance for 11.6 cents per stapled security, which would represent growth of between 3% t0 4% and distribution growth of around 5%.

Based on a share price of $2.75 it trades on 16x its forecast earnings per stapled security. The group’s result is even more impressive given the weakness in residential house prices in Sydney over the six-month period. While its investment and commercial property portfolio also continued to deliver solid results.

Mirvac has a consistent track record of profit and dividend growth with exposure to the generally rock-solid asset class of east coast property markets.

As such it’s an option to research for conservatively minded dividend seekers, although the price earnings multiple is now above historical norms. Others in the space include Dexus Property Group (ASX: DXS) and Westfield’s Scentre Group (ASX: SCG).

NEW! Top 3 Dividend Bets for 2019

With interest rates likely to stay at rock bottom for months (or YEARS) to come, income-minded investors have nowhere to turn... except dividend shares. That’s why The Motley Fool’s top analysts have just prepared a brand-new report, laying out their top 3 dividend bets for 2019.

Hint: These are 3 shares you’ve probably never come across before.

They’re not the banks. Not Woolies or Wesfarmers or any of the “usual suspects.”

We think these 3 shares offer solid growth prospects over the next 12 months. The first two currently offer fat, fully franked yields. The last is a surprising REIT offering you the benefits of being a landlord with none of the hassle! You’ll discover all three names and codes in "The Motley Fool’s Top 3 Dividend Shares for 2019."

Even better, your copy is free when you click the link below. Fair warning: This report is brand new and may not be available forever. Click the link below to be among the first investors to get access to this timely, important new research!

The names of these top 3 dividend bets are all included. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies move – we may be forced to remove this report.

Click here to claim your free copy right now!

Motley Fool contributor Tom Richardson has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Scentre Group. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!