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Manulife US REIT (MUST)
REITs
‘Absolutely’ possible to save Manulife US REIT, says sponsor but time not on its side
Sale of Phipps in conjunction with plan to deal with debt maturities in 2024, 2025 could give MUST reprieve
August 17, 2023
Broker's Calls
CGS-CIMB stays 'add' on Manulife US REIT but cuts TP by nearly 40% after DPU halt
The REIT’s manager announced at its results briefing on Aug 14 that it is halting distributions for 1HFY2023 ended June.
August 16, 2023
Results
Manulife US REIT halts DPUs in 1HFY2023; unencumbered gearing ratio down to 59.7%
1HFY2023 distributable income fell by 17.4% y-o-y to US$37.9 million.
August 14, 2023
Broker's Calls
Analysts downgrade Manulife US REIT after worse-than-expected valuation cuts
As at 12.26pm, units in MUST are trading 5.2 US cents lower or 30.77% down at 11.7 US cents.
July 19, 2023
REITs
MUST’s portfolio valuation falls by 14.6% to US$1.63 bil; aggregate leverage breaches 50% limit
MUST is also expected to report a loss for the 1HFY2023 ended June 30.
July 18, 2023
Broker's Calls
UOB Kay Hian re-initiates ‘buy’ on Manulife US REIT with TP of 47 US cents
The "buy" call came as analyst Jonathan Koh sees the negatives as largely priced in within the REIT’s unit price
June 23, 2023
REITs
Manulife US REIT's fifth-largest tenant to terminate lease early, pays fee of US$4 mil
The tenant contributes 3.3% of MUST’s overall gross rental income.
June 07, 2023
REITs
Manulife US REIT's indirect subsidiary redeems all outstanding preferred units
The indirect subsidiary used to hold MUST’s Tanasbourne property located in Hillsboro, Oregon, in the US.
June 01, 2023
Broker's Calls
Manulife US REIT exchanging its 'gem' for lower gearing, reduced risk of large fundraising: DBS
DBS anticipates a near-term relief rally on the stock, whose units reached an all-time low of 13.3 US cents on May 16.
May 29, 2023
REITs
Phipps sale expected to sponsor set to cut Manulife US REIT’s leverage as Mirae’s exclusivity period lapses
Sale of Phipps to Manulife US REIT's sponsor lowers gearing, shows sponsor support, triggers price rebound
May 25, 2023