Manulife US REIT - DBS Research 2022-11-03: When The Going Gets Tough, The Tough Get Going

• Manulife US REIT (SGX:BTOU)'s portfolio occupancy declined further by 2.8ppt q-o-q to 88.1% in 3Q22 (including leases signed up till 18 Oct 22) vs 90.9% in 2Q22, mainly due to Quinn Emanuel’s downsizing (71k sqft/~10% at Figueroa), highlighted previously.
• - Read this at SGinvestors.io -
• Manulife US REIT embarks on the hotelisation of its Peachtree asset, which will drive potential rents ~30% above passing rents. The estimated capex is US$18m over two years with an expected IRR of ~9%.
• - Read this at SGinvestors.io -
• Management expects portfolio occupancy to hold steady for the rest of the year, and maintains a positive outlook on reversions coming in at low to mid-single digits.

Manulife US REIT – Valuation & Recommendation

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-02-21 Manulife US REIT - A Year In Transition, Deleveraging Still A Key Focus..

Previous report by DBS:
2024-02-09 Manulife US REIT - Focus On Leasing & Divestments.

Price targets by other brokers at Manulife US REIT Target Prices.

Listing of research reports at Manulife US REIT Analyst Reports.

Relevant links:
Manulife US REIT Share Price History,
Manulife US REIT Announcements,
Manulife US REIT Dividend Payout Dates & Corporate Actions,
Manulife US REIT News