Lemsicals
2023-07-28

$MANULIFE US REIT(BTOU.SI)$ is an interesting play. Under US Tax Law, for a US REIT to be a REIT, it MUST pay 90% of its taxable income to unit holders. If they don't, they will pay tax. If Lenders prevent the payment of dividends, this could spiral out of control. I might jump in if I think the REIT will survive but I wouldn't go in for anything more than 7 cents. It's still overvalued. 

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Comments

  • ud0m
    2023-08-01
    ud0m
    Do you think there will be dividends ?
    • Lemsicals: 
      It’s really hard to say but there is a very serious risk that they will stop dividends. A lot depends on the debt holders higher above in capital structure.
  • Agxm
    2023-08-24
    Agxm
    那現在怎麼樣了？
    • Lemsicals: 
      正如預測的那樣，它確實下降到了7美分，但我已經決定暫時不進去（或根本不進去）。美聯儲可能仍將在年底前再次加息，這將影響12月份的估值。無論加息與否，它們的估值在12月份仍將進一步下跌。另外兩件事讓我擔心：1）儘管價格很低，但他們並沒有取消稀釋；2）與銀行的談判需要很長很長時間。銀行談判就是我們看漲期權的“棄權和修正”不需要花這麼長時間，所以我感覺到了麻煩。我的新目標價是3美分。
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