This article is from the Australian Property Journal archive
THE latest analysts' review of Mirvac following the shock announcement last week that the group has downgraded its FY09 distribution.
PREVIEW: Mirvac’s announcement last week that it has cut its FY09 distribution has not ruffled too many feathers with some analysts.
UBS has maintained its Neutral rating but reduce its 12 months target price from 82cents to 55cents. The firm did applaud Mirvac for its capital management, adding that with the sector trading on a 12.5% DPS yield, reducing distributions is the simplest additional way to boost capital.
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