- 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 the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Rachel TAN DBS Group Research | Derek TAN DBS Research | https://www.dbs.com/insightsdirect/ 2022-11-03
Read also DBS's most recent report:
2024-02-09 Manulife US REIT - Focus On Leasing & Divestments.
Previous report by DBS:
2023-11-30 Manulife US REIT - Throwing A Lifeline; Downgrade To HOLD.
Price targets by 3 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 Dividends & Corporate Actions,
Manulife US REIT News Articles