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ManulifeReit USD
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Manulife US REIT IPO
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piscesmonkey
Supreme |
28-Feb-2025 17:16
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Whole week dbs shorting. Bottom should be around 72/73. Rsi so low liao very oversold
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LP2020
Senior |
28-Feb-2025 16:49
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it seems to be good support at 0.074, same for Prime at about 138/139. could be the bottom | ||||
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LP2020
Senior |
28-Feb-2025 15:26
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good luck. end of feb all go down. next month most likely to rebound
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piscesmonkey
Supreme |
27-Feb-2025 10:03
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Bought 76 and 78 oversold liao DBS seller
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piscesmonkey
Supreme |
26-Feb-2025 20:11
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Can see that MUST only red. Other 2 still green and flat. Means 80 can buy liao 79/80 strong support. Will see soem rebound toward 90
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TraderBen
Supreme |
26-Feb-2025 20:06
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The lowest is 5 cents, waiting for a lower entry .. there will the time
When US reits all fly.. p/B is less then 0.3 for all the 3 us reits
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piscesmonkey
Supreme |
26-Feb-2025 16:56
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Oversold can buy at 80 and keep liao 😄 | ||||
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Joelton
Supreme |
21-Feb-2025 12:22
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Manulife US Reit to sell Plaza office building for US$40 million as H2 distributable income falls 57.6%
Revenue for the half year falls 25.5% to US$80.8 million
THE manager of Manulife US Real Estate Investment Trust (MUST) reported on Thursday (Feb 20) that the Reit&rsquo s distributable income fell 57.6 per cent to US$15.4 million from US$36.3 million in the year-earlier period, with its revenue and net property income (NPI) declining.
It reported a 57.6 per cent decline in adjusted distributable income per unit to US$0.87, from US$2.05 in the corresponding year-earlier period.
Revenue for H2 FY2024 fell 25.5 per cent to US$80.8 million from US$108.5 million the prior year, while NPI decreased 37.4 per cent to US$37.1 million from US$59.2 million previously.
Adjusted distributable income was also at US$15.4 million, which translates to US$0.87 per unit.
Full-year adjusted distributable income per unit declined 43.9 per cent to US$2.15 from US$3.83 the previous year.
No distribution was declared for the second half &ndash unchanged from the previous corresponding period &ndash as the Reit manager will be halting distributions until end-2025, following the Reit&rsquo s recapitalisation plan that unitholders approved in 2023.
For the full year, revenue was down 19.4 per cent at US$167.6 million from US$208 million NPI fell 30.3 per cent to US$79.9 million from US$114.6 million.
The manager also announced that the Reit is selling its 500 Plaza office building at a price of US$40 million to an unrelated third-party purchaser. The property is located in Secaucus, New Jersey.
&ldquo We are currently in divestment discussions on additional properties which will further contribute towards debt repayment. To achieve this, we are taking a disciplined approach to meet our obligations while carefully evaluating interest from potential buyers,&rdquo it said.
The manager said it will continue repositioning the portfolio through growth and diversification, seeking to make accretive investments that enhance distributions and grow the net asset value of the portfolio. &ldquo With these inhouse capabilities, we will be able to capitalise on value opportunities in a dislocated US real estate market.&rdquo
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LP2020
Senior |
20-Feb-2025 11:14
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Are shortists stepping in for this counter playing the results? It is funny in SGX when you have great results price goes up and then down down (sell on news strategy :-) but this one seems to be hoovering around 93/94. what could be a good entry price? | ||||
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LP2020
Senior |
20-Feb-2025 09:57
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Results came out. depite some not so great results (but ok considering the economic times), it sold down 093, but it looks like there is still support at 0.090/0.092? anyway, perhaps later it can test 090/089 before it would recover again? PRESS RELEASE Stabilisation in progress as MUST continues to focus on repaying debt Prudent capital expenditure and strategic leasing strategy result in cash balance of US$65 million 500 Plaza to be sold for net consideration of ~US$40 million, bringing REIT closer to recovery and growth MUST in ongoing divestment discussions on additional properties for further debt repayment Singapore, 20 February 2025 &ndash Manulife US Real Estate Investment Trust (MUST) reported a same-store gross revenue 1 of US$150.6 million and same-store net property income (NPI)1 of US$71.4 million for the full year ended 31 December 2024 (FY 2024), which were 15.1% and 25.9% lower than FY 2023. This was mainly due to lower rental and recoveries income from higher vacancies and lower lease termination income, offset by lower property operating expenses. The NPI decline was largely driven by TCW Group&rsquo s non-renewal in Figueroa and another financial tenant&rsquo s vacate in Exchange. The latter had paid a US$9 million termination fee in FY 2023. In addition, MUST recorded higher finance expenses owing to a one-off fee of US$2.3 million incurred in relation to the Master Restructuring Agreement (MRA) signed with lenders, offset by higher interest income. This led adjusted distributable income (DI) to decline 43.7% to US$38.3 million. The DI was adjusted to reflect the Manager&rsquo s base fee and property management fee payable in cash instead of units for 1H 2023. Chief Executive Officer and Chief Investment Officer of the Manager, John Casasante, said: &ldquo In a tenant-driven market where commodity leasing is the norm, we are focused on identifying strategic and accretive leasing deals. Through the Sponsor&rsquo s global real estate platform, our asset management team has local market knowledge and expertise, enabling us to navigate the market and negotiate leases with low tenant concessions and higher net effective rents. This is only possible when we have identified our competitive leverage in a deal. We are structuring our leases creatively to maximise liquidity and optimise our capital. &ldquo On the disposition front, the net consideration of approximately US$40 million from the sale of 500 Plaza, following on the heels of the sale of Capitol for a net consideration of US$110 million, allow us to pay off our US$130.7 million of loans maturing in 2025 and get an early start on paying down debts maturing in 2026. We are currently in divestment discussions on additional properties which will further contribute towards debt repayment. This will bring the REIT closer to our recovery and growth phase.&rdquo As at 31 December 2024, MUST&rsquo s unencumbered gearing ratio and aggregate leverage ratio increased to 64.2% and 60.8% respectively from three months ago, due largely to the 9.3% decline in its portfolio valuation. MUST&rsquo s weighted average debt maturity lengthened slightly to 2.9 years as at 31 December 2024. The trailing 12-month interest coverage ratio (ICR) declined to 1.7 times partially due to the one-off fee of US$2.3 million paid to lenders and does not reflect the full-year impact of the US$130.7 million debt repayment in November 2024. To mitigate cash flow volatility resulting from interest rate movements, the percentage of MUST&rsquo s hedged/fixed rate loans remained high at 69.4%. MUST has a healthy cash balance of US$65.2 million. As at 31 December 2024, MUST&rsquo s same-store occupancy dipped QoQ to 73.6%, from 75.4% as at 30 September 2024. Approximately 611,000 sq ft3 of leases were executed in FY 2024, representing 13.4% of portfolio net lettable area. Average rent reversion came in at &ndash 5.1% and &ndash 7.4% for leases signed in 4Q 2024 and for the full year, respectively, with five out of nine office leases signed in 4Q 2024 above market rents. As at 31 December 2024, portfolio WALE remains long at 5.0 years. |
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LP2020
Senior |
28-Jan-2025 13:47
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Happy CNY everyone! Gong Xi Fa Cai!
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LP2020
Senior |
28-Jan-2025 12:11
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moving above 100 again? if not this week as it is a short one, perhaps next
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piscesmonkey
Supreme |
22-Jan-2025 15:26
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Strong support buying
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LP2020
Senior |
22-Jan-2025 11:52
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good run up in the past few days. still primary resistance at $0.103&ndash $0.105 with secondary one at 0.110 / 0.112 critical support at 0.095 if shortist pressure is high. if there is enough support in the 0.099/0.100 high chance to close higher.
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piscesmonkey
Supreme |
21-Jan-2025 17:47
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piscesmonkey
Supreme |
21-Jan-2025 17:29
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Close 101. Trump want US reits to recover back before covid price huat ah
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SmallSmall
Supreme |
21-Jan-2025 16:49
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Clsoing $0.10. Thank you
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SmallSmall
Supreme |
21-Jan-2025 16:39
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Nice c.......$0.098
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piscesmonkey
Supreme |
21-Jan-2025 16:39
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Go back 50cents
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tankoksee
Supreme |
21-Jan-2025 16:09
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trump/musk stocks........20 cts otot?
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