Manulife US REIT's Portfolio Occupancy Levels May Stay Weak in Near-Term -- Market Talk

Dow Jones02-13

0509 GMT - Manulife US REIT's portfolio occupancy levels may stay weak in near-term with a major tenant slated to vacate, though management noted a pick-up in leasing momentum, RHB Research analyst Vijay Natarajan says in a research note. The REIT's portfolio occupancy may decline to roughly 80% in 1Q from 84.4% in 4Q, the analyst estimates. Its portfolio valuations continue to drop, though valuations seem to be nearing a bottom, he adds. RHB lowers the REIT's rating to "trading buy" from "buy" and the target price to US$0.12 from US$0.13. Under "trading buy", unit price may exceed 15% over the next three months, but its longer-term outlook remains uncertain, RHB adds. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

February 13, 2024 00:09 ET (05:09 GMT)

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RHB lowers the REIT's rating to \"trading buy\" from \"buy\" and the target price to US$0.12 from US$0.13. Under \"trading buy\", unit price may exceed 15% over the next three months, but its longer-term outlook remains uncertain, RHB adds. 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