Manulife US REIT's Negatives Have Mostly Been Priced In -- Market Talk

Dow Jones2023-06-26

0348 GMT - Manulife US REIT has endured a series of downsizing and the non-renewal of leases from key tenants, although most of those negatives have already been priced into the unit price, says UOB Kay Hian analyst Jonathan Koh in a note. He estimates that the trust's portfolio occupancy could decline by 9 percentage points to 79% by the end of 2024, if vacant spaces aren't filled. The REIT's current physical occupancy is around 30% amid a depressed office market, the analyst adds. UOB Kay Hian reinitiates coverage at buy with a target price of $0.47. Units are unchanged at $0.17. (yiwei.wong@wsj.com)

(END) Dow Jones Newswires

June 25, 2023 23:48 ET (03:48 GMT)

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Rookie22
2023-07-19
Rookie22
This age well . Now buy cheaper

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UOB Kay Hian reinitiates coverage at buy with a target price of $0.47. Units are unchanged at $0.17. 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