Welcome!
Manulife US REIT (MUST)
REITs
Manulife US REIT announces proposed divestment of Phipps to sponsor
Manulife US REIT's manager announces proposed sale of Phipps to sponsor as Mirae exclusivity period lapses.
May 24, 2023
Broker's Calls
Potential rescue by acquirer Mirae could dilute Manulife US REIT's DPU; DBS halves TP to 24 US cents
A US$175 million ($236.09 million) capital injection could be the lifebuoy Manulife US REIT (MUST) needs, say DBS's analysts.
May 19, 2023
Broker's Calls
Manulife US REIT 'navigating challenges', CGS-CIMB keeps TP at 55 US cents as unit price hits all-time low
“MUST’s strategic review remains ongoing and management updated that due diligence by Mirae has been substantially completed.”
May 15, 2023
Results
Manulife US REIT's gearing rises further to 49.5%, Mirae proposal expected in 2Q2023
Gearing is up from 48.8% at the end of 2022, "mainly due to payment of 2HFY2022 distributions in March 2023", says the manager.
May 11, 2023
Broker's Calls
RHB lowers Manulife US REIT's TP to 40 US cents after sale of Tanasbourne
While RHB has kept its "buy" call on MUST, the sale does not fully solve its issues about its high gearing and more.
April 13, 2023
Deals, joint ventures & alliances
Manulife US REIT continues talks with bidder Mirae, divests property for US$0.35 mil loss
MUST has divested a property in Oregon for US$33.5 million, lower than the price it paid in December 2021.
April 12, 2023
Broker's Calls
Have S-REITs reached a bottom in March? DBS optimistic on retail, industrial names
Most bad press have been focused on US-focused names, where a deteriorating economic outlook places uncertainty on dividends.
April 06, 2023
Broker's Calls
'Rewards for the brave' who dare to bet on US office S-REITs now: DBS
“We believe that at 0.5x P/B, it is close to the bottom and awaiting a catalyst.”
March 31, 2023
REITs
Simple solutions for these two REITs
To recapitalise these 2 REITs, a dilutive EFR is necessary with a placement, rights, or combination coupled with divestments
March 30, 2023
Broker's Calls
Mirae's potential bid for MUST will address key challenges faced by REIT: RHB
RHB has kept its 'buy' call and target price of 43 US cents on the REIT.
March 17, 2023