- There is a pick-up in leasing activities with Manulife US REIT securing two new tenants in 4Q23: an insurance firm at Capitol and a public administration agency at Figueroa. In 1Q24, existing tenant Hyundai Capital expanded at Michelson, while The Children’s Place has returned to Plaza.
- - Read this at SGinvestors.io -
Manulife US REIT's 2H23 Results
- Manulife US REIT (SGX:BTOU) reported distributable income of US$36.4m for 2H23 (-13.3% y-o-y), which is above our expectations.
Termination fees boosted revenue and NPI.
- - Read this at SGinvestors.io -
- higher property expenses, and
- divestment of Tanasbourne in Hillsboro during Apr 23 and Park Place in Chandler during Dec 23.
- Interest expense increased 29.1% y-o-y.
Pick-up and positive momentum in leasing activities.
- Read more at SGinvestors.io.
Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.
Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-02-13
Previous report by UOB:
2023-11-30 Manulife US REIT - Breathing Space For Orderly Deleveraging.
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
