Manulife US REIT May Benefit From Sale of U.S. Asset -- Market Talk

Dow Jones10-01

0510 GMT - Manulife US REIT may benefit from divestment of '400 Capitol Mall' in Sacramento, California, RHB Research analyst Vijay Natarajan says in a research report. The divestment will provide much-needed liquidity and increases odds of successful restructuring by the REIT, the analyst says. The proceeds are expected to be used to repay the REIT's 2025 debt of US$131 million, with remainder coming from internal cash, the analyst says. However, RHB cuts its 2025 and 2026 distributable-income forecasts for the REIT by 14% and 11%, respectively, after factoring in asset disposals by end-2024. It also lowers the unit's rating to neutral from trading buy, with an unchanged target price of US$0.12. Units are down 7.3% at US$0.115. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

October 01, 2024 01:11 ET (05:11 GMT)

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The divestment will provide ...</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":"BTOU.SI","symbol_name":"宏利美国房地产投资信托","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2472313790","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2472313790","pubTimestamp":1727759460,"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":"0510 GMT - Manulife US REIT may benefit from divestment of '400 Capitol Mall' in Sacramento, California, RHB Research analyst Vijay Natarajan says in a research report. 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