Manulife US REIT Set for Short-Term Pain But Long-Term Gain -- Market Talk

Dow Jones2023-12-04

0253 GMT - Manulife US REIT is poised to undergo short-term pain for long-term gain, UOB Kay Hian analyst Jonathan Koh says in a research report. The REIT intends to repay US$285.0 million owed to lenders, and plans to raise at least US$328.7 million via asset sales--excluding the divestment of its Park Place property--the analyst notes. The Singapore-listed REIT has halted half-yearly distributions until end-December 2025, unless early reinstatement conditions are met, Koh adds. The REIT will also probably conduct an equity fundraising via a rights issue, the analyst adds. The brokerage lowers the unit's target price to US$0.13 from US$0.18 to reflect the possible rights issue, while keeping a buy rating. Units are 3.4% higher at US$0.060. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

December 03, 2023 21:53 ET (02:53 GMT)

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The REIT intends to repay US$285.0 million owed to ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6132","symbol_name":"办公室房地产信托","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2388220378","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2388220378","pubTimestamp":1701658380,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0253 GMT - Manulife US REIT is poised to undergo short-term pain for long-term gain, UOB Kay Hian analyst Jonathan Koh says in a research report. 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