Manulife US REIT’s (MUST) “painful” move to sell an asset at a “deep discount”, along with “increased market uncertainties” brought about by the Trump administration’s US tariffs, have forced RHB Bank Singapore analyst Vijay Natarajan to slash his target price to 7 US cents (9.02 cents) from 12 US cents previously.
Still, this represents a close to 13% upside for MUST’s units, whose value has fallen some 11% over the past year and 31% year to date.
While Natarajan maintains his “neutral” call on MUST in a May 27 note, he believes the beleaguered US office REIT will make a “full recovery” and even resume dividend payments by 2027.
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