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Manulife US REIT IPO
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chengwh1
Elite |
01-Dec-2016 10:52
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Management has started to receive their fees. But dividends are not being disbursed to us yet,.... |
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chengwh1
Elite |
24-Nov-2016 20:05
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I think it will go the down first when rate hike starts. This lift-up is for the moment becasue of the article by the analyst who started coverage.
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junction
Master |
24-Nov-2016 13:42
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I think it will go the other way, up. Read the article above.
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waters
Senior |
24-Nov-2016 10:56
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 One REIT to benefit from a rebounding US economyBy:
Michelle Zhu
SINGAPORE (Nov 23): RHB Singapore is initiating coverage on Manulife US REIT with a " buy&rdquo recommendation with a target price of 96 US cents ($1.37). As the first and only listed US office REIT in Asia, Manulife US REIT&rsquo s portfolio comprises three US freehold office properties with a total value of about US$813.2 million. &ldquo We believe Manulife US REIT offers a compelling value proposition for yield-hungry cum growth-oriented investors,&rdquo comments analyst Vijay Natarajan in a Wednesday report. According to the analyst, one the benefits the REIT offers includes high FY17F and FY18F dividend yields of 8% and 8.1% respectively, which stands a good 100 basis points (bps) above the office S-REITs average. He also notes strong pipeline assets to drive inorganic growth, as well as clear visibility of distribution per unit (DPU) growth with 84% of the REIT&rsquo s portfolio leases having inbuilt rental escalation clauses averaging 3% per annum. While the US Federal Reserve (Fed) rate hike generally has a negative impact on yield instruments such as REITs, Natarajan believes this may be mitigated on Manulife US REIT as it would concide with a pick-up in the US economy and office demand. &ldquo The rate hike would also result in the strengthening of the USD, benefitting Asian investors&hellip Manulife US REIT refinanced its IPO bridge loan facility to a 4-year fixed-term loan at a lower interest cost of 2.46%, thus shielding it from higher borrowing costs,&rdquo he elaborates. Lastly, the analyst highlights Manulife US REIT&rsquo s &ldquo tax-efficient structure&rdquo as the REIT aims to receive 100% of its income in the form of interest or principal repayments on its shareholder loan, which is exempt from tax in both the US and in Singapore. &ldquo [Manulife US REIT] offers the best proxy for investors looking to benefit from a rebounding US economy and stable USD exposure,&rdquo states Natarajan. In another positive development, Manulife US Real Estate Investment Trust announced in an SGX filing on Wednesday night that it will be included in the MSCI Singapore Small Cap Index with effect from Nov 30, after the close of market trading. The inclusion follows the results of MSCI&rsquo s November 2016 Semi-Annual Index Review, which were announced on Nov 14. Units of Manulife US REIT closed 1 cent higher at 81 US cents. |
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chengwh1
Elite |
24-Nov-2016 10:42
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Manulife should be dropping back below 0.800 soon, rate hike is confirmed NOW ! 100% chance,......... 
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lsyiat
Veteran |
24-Nov-2016 09:46
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http://www.theedgemarkets.com.sg/sg/article/manulife-us-reit-be-included-small-cap-index | ||||
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chengwh1
Elite |
23-Nov-2016 10:26
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The divvy is paid twice a year, for now, as said in the rospectus. The divvy is paid out in USD or SGD - we can select,... with the anticipated strengthening of the USD, it is best to elect USD for divvy payout. Rate hike coming, that' s why the performance is lagging.
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luvkarena
Member |
23-Nov-2016 09:15
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Thank you so much. Is the dividend paid quarterly? I wondered if they hedge for FX. Otherwise, the US strengthening is good for holding this reit. its performance is lagging behind, when the price drops, we should accumulate more..
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chengwh1
Elite |
16-Nov-2016 11:31
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Before Mar 30th., 2017,... as according to the prospectus filed in May this year prior to listing !
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luvkarena
Member |
15-Nov-2016 23:43
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when will the dividend be paid? |
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chengwh1
Elite |
14-Nov-2016 10:18
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Meltdown today,... 0.81 ??? Wow,.... |
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chengwh1
Elite |
12-Nov-2016 13:02
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With a Trump presidency,... Office spaces in the major cities have an even better chance as he targets to ramp up the economy, and ' Make America Great Again' . |
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waters
Senior |
11-Nov-2016 15:12
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America&rsquo s strengthening office market makes Manulife US REIT a great &lsquo buy&rsquoBy:
Michelle Zhu
 SINGAPORE (Nov 9): DBS Vickers Securities has maintained its &ldquo buy&rdquo call on Manulife US REIT with an unchanged target price of 93 US cents ($1.29). This comes after the pure-play US REIT posted a maiden distribution per unit (DPU) of 2.01 US cents, hence exceeding its initial public offering (IPO) profit forecast by 5.8%. (See also: Manulife US REIT reports maiden DPU of 2.01 US cents, exceeds IPO profit forecast by 5.8%) In a Tuesday report, lead analyst Mervyn Song says the latest set of results translates to an 8% DPu growth in FY17, which is one of the highest among REITs in Singapore. Highlighting the REIT as &ldquo well-placed to execute on DPU-accretive acquisitions&rdquo , the analyst says he expects any acquisition to diversify its geographic earnings base and tenant concentration. Furthermore, a recent visit to the REIT&rsquo s properties in the US, combined with meetings with various property brokers, has led Song to conclude that the US office market fundamentals &ldquo remain firm&rdquo . &ldquo We believe that MUST' s properties in Midtown Atlanta and Downtown Los Angeles submarkets will continue to see steadily increasing rents, continued expansionary tenant demand, increased employment opportunities and also a lack of competitive new supply,&rdquo he comments. &ldquo We continue to like Manulife US REIT for its exposure to the growing US office market and attractive 7.2% FY17F yield.&rdquo Units of Manulife US REIT closed at 84 cents. |
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chengwh1
Elite |
08-Nov-2016 16:13
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At best case, if we can get 2.00 US Cts for the final three months of this year, we will earn 4.01 Cts fo this year, and if we dividend 4.01 Cts by USD 0.84, the actual practical yyield earned fro this year would be 4.77%, for 244 days only. I would not dispute that the ANNUALISED yield would be higher, at 7.78%. My strong interest in this REIT also stems from the fact that the USD is poised to strengthen against the SGD. And secondly, to be able to invest in a US asset without needing to pay 30% withholding tax against the dividend received.
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junction
Master |
07-Nov-2016 22:26
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Using the projected 6.6% the actual result should be about 7%, which should be the more accurate figure. Either way, we cannot obtain your figure of 4.77%.
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junction
Master |
07-Nov-2016 22:02
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Correct me if I am wrong. I think your calculation of 4.77% yield for this year is faulty. The yield becomes USD0.0401/USD0.8400 = only 4.77% for this year. It is not for the whole year but for 224 days only. Hence you should multiply your own figures by 365/224 which gives 7.78% yield, which is very attractive. If you project the expected US dollar increase against Sing dollar, its even more attractive.
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chengwh1
Elite |
07-Nov-2016 20:48
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The report today looks good. The dpu was earlier forecast to be at 1.90 US Cts, but turned out to be 2.01 US Cts. Hence, the dpu is higher in actuality. One thing comes to mind,... for the period Listing Date till Sep 30, 2016, the dpu is 2.01 Us Cts, for 4.5 months. For the last three months, say,... at best case scenario, the dpu can reach 2.00 US Cts, the total dpu for 2016 is only 4.01 US Cts. The yield becomes USD0.0401/USD0.8400 = only 4.77% for this year. Just fyi : The Listing Prospectus earlier mentioned that the yield for FY2016 is targetted to be at 6.60%. At a price of USD0.8300 (IPO Subscription Price in May 2016), the total DPU works out to be USD0.05478 for the whole of 2016, PRORATED. Further fyi : The Listing Prospectus also mentioned that the yield for FY2017 is targetted to be at 7.10%. At a price of USD0.83 (IPO Subscription Price in May 2016), the total DPU is targetted to be USD0.05893 for the whole of 2017. Frankly,... not very good yields here,.... |
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marubozu1688
Master |
21-Oct-2016 23:14
Yells: "Be humble in front of Mr. Market." |
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Manulife US REIT compare to other REITs. http://mystocksinvesting.com/singapore-reits/bubble-charts/singapore-reit-stock-shortlisting-bubble-charts-october-2016/ |
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Know-Your-Stuff
Senior |
06-Jul-2016 23:42
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PIMCO released a report titled: US Commercial Real Estate (CRE) - A storm is brewing. Dated 04 July. Read before you decide to invest in this reit.
For the past 18 months, US CRE Reits had been trading well below NAV. Now I understand why they choose to list here hehe. Can get premium pricing in far away land because ppl generally dont know the local situation well. US property prices is back to 2007 price level...mainly due to chinese ppl purchasing power for the last 5 years. Is it a bubble you decide. Status - Not vested.
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chengwh1
Elite |
17-Jun-2016 11:46
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Investors seemed to be spooked by the ' price-defending actions' of Credit Suisse. Almost everyone is sitting at the sidelines today, and the price stabilising actions keep occuring at USD0.810. Let' s see later today,.... |
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