Manulife US Real Estate Investment Trust (MUST)

The agreement will take place in three phases, which will cost around US$6.8 million to build over two years.

Analysts are generally positive on Manulife US REIT in spite of 2HFY2021 results ‘a miss’

Units in MUST closed flat at 64.5 US cents on Feb 8.

The new units are expected to be issued and commence trading on the SGX-ST on Dec 9.

All three properties were purchased at at least 0.8% below the valuation amounts.

The facility incorporates interest rate reductions linked to sustainability performance targets.

FY2020 DPU fell 5.4% y-o-y to 5.65 US cents compared to 5.96 US cents in FY2019.

“Investors are positioning ahead of the expected normality to pre-Covid-19 economic conditions," says PhillipCapital.

Manulife has over 80 years of experience in commercial real estate through a vertically integrated platform and manages everything from the plumbing to the high finance, writes Singapore Exchange research analyst Candace Li.

Ong has maintained her “buy” call with a higher target price of 90 US cents ($1.23), previously 80 US cents.