Manulife US REIT - UOB Kay Hian 2022-11-03: Challenging Outlook In 3Q22; Hotelisation Of Another Asset

Manulife US REIT - Challenging Outlook In 3Q22; Hotelisation Of Another Asset

Published:
MANULIFE US REIT (SGX:BTOU) | SGinvestors.ioMANULIFE US REIT (SGX:BTOU)
  • For 3Q22, Manulife US REIT’s overall portfolio occupancy dipped slightly to 88.1% while physical occupancy remained at around 30%. Some 61,000sf of leases were executed at 4.3% positive rental reversion, leading to a year-to-date positive rental reversion of 1.7%.
  • - Read this at SGinvestors.io -
  • Manulife US REIT continues to ramp up its hotelisation efforts, with its Peachtree asset the next asset in line.

Manulife US REIT's 3Q22 update.

Lower overall portfolio occupancy.

  • - Read this at SGinvestors.io -
  • Management expects overall portfolio occupancy to stabilise moving forward. Manulife US REIT has been in negotiation with prospective tenants to take over vacated spaces which we reckon may take some time to backfill. Also, physical occupancy remains at around 30%, similar to 2Q22.

Weak leasing activity.

  • Read more at SGinvestors.io.




Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.




Llelleythan TAN UOB Kay Hian Research | Jonathan KOH CFA UOB Kay Hian | https://research.uobkayhian.com/ 2022-11-03



Read also UOB's most recent report:
2024-02-13 Manulife US REIT - Pulling Multiple Levers To Deleverage.

Previous report by UOB:
2023-11-30 Manulife US REIT - Breathing Space For Orderly Deleveraging.

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





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