- No dividend distributions were made by Manulife US REIT (SGX:BTOU) in 2H23 and none is expected until at least 1H25, in light of ongoing restructuring. Manulife US REIT’s 2HFY23 top-line beat expectations due to one-off termination income.
- - Read this at SGinvestors.io -
Portfolio occupancy to fall to ~80% levels
- Manulife US REIT's portfolio occupancy is expected to fall to ~80% levels in 1Q24 (4Q23: 84.4%) with the exit of TCW Group.
- On a positive note, there has been signs of pick-up in leasing volume with notable deals including Hyundai expansion (31k sq ft) at Michelson, and The Children’s Place (Plaza) re-leasing reduced space (120k sq ft from 198k sq ft) for longer lease term.
- - Read this at SGinvestors.io -
- Overall rent reversions were 1%/8% for 4Q23/FY23 but with high tenant incentive packages prevailing in Manulife US REIT’s submarket, we believe the net rent reversions are likely to be flat to negative.
Asset valuation fell 8%
- Read more at SGinvestors.io.
Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.
Vijay Natarajan RHB Securities Research | https://www.rhbgroup.com/ 2024-02-09
Read also RHB's most recent report:
2026-05-06 Manulife US REIT - Outlook Remains Cloudy.
Previous report by RHB:
2026-03-19 Manulife US REIT - In Transition.
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
