In a Thursday report, Maybank analyst Chua Su Tye says MUST’s valuation is compelling now that it offers DPU yields of 6.8-7.1% for FY201E, versus the 4.6-6.5% offered by its office S-REIT peers.
SINGAPORE (May 3): Maybank Kim Eng and RHB Research are reiterating their “buy” calls on Manulife US REIT (MUST) with the respective target prices of US$1 and 96 US cents.
Both research houses are positive on the REIT’s US$122 million acquisition of Centrepointe I & II in Virginia, USA – a deal which is set to be DPU- and yield-accretive, and adds to the trust’s overall portfolio weighted average lease expiry (WALE).
