- 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 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/.
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 Dividends & Corporate Actions,
Manulife US REIT News Articles
