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Hot stock: Manulife US Reit falls as much as 33.7% following decline in portfolio valuations

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Vivienne Tay

Vivienne Tay

Published Wed, Jul 19, 2023 · 09:42 AM
    • The manager expects the Reit to report a loss in the first half of 2023.
    • The manager expects the Reit to report a loss in the first half of 2023. PHOTO: MANULIFE US REAL ESTATE MANAGEMENT

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    UNITS of Manulife US Real Estate Investment Trust (Manulife US Reit) fell as much as 33.7 per cent after resuming trading on Wednesday (Jul 19) morning.

    The counter fell as much as US$0.057 to US$0.112 as at 3.59 pm – the lowest since the Reit’s listing in May 2016. It later closed 31.4 per cent or S$0.053 lower at S$0.116, about a fifth of its FY2022 net asset value of US$0.57.

    Manulife US Reit was also the second-most traded by volume, with 56.7 million units changing hands during Wednesday’s trading session.

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