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Brokers' take

Published Wed, Jun 21, 2017 · 09:50 PM

Manulife US Reit | Buy June 21 close: US$0.89 Target price: US$0.99 RHB, June 21

Manulife US Reit (MUST) announced its maiden acquisition of a prime Class-A freehold office asset, Plaza, located in New Jersey. It is under five km from Manhattan, New York.

We like the deal as:

1. It is yield-accretive with an estimated net property income yield of about 7.5 per cent;

2. Plaza has a high occupancy rate (98.9 per cent) and a weighted average lease expiry of 9.2 years;

3. It also has an excellen…

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