The Business Times
business-time-50
MARK TO MARKET

Lessons from Manulife US Reit’s troubles

Timely recapitalisation exercises could transform perception of the beleaguered Reit’s peers and make them more appealing to bargain hunters

Ben Paul

Ben Paul

Published Mon, Jul 31, 2023 · 05:00 AM
    • The valuation of MUST's property on South Figueroa Street in Los Angeles has fallen 44.8 per cent since end-2021.
    • The valuation of MUST's property on South Figueroa Street in Los Angeles has fallen 44.8 per cent since end-2021. PHOTO: MANULIFE US REIT

    THE sell-off suffered by Manulife US Reit (MUST) since news broke that its property portfolio has been devalued by a further 14.6 per cent felt very much like the “final capitulation” phase of a long and brutal slump.

    As the market price of MUST’s units cratered, some analysts downgraded their recommendations and urged investors to flee. UOB Kay Hian dropped its target price from US$0.47 to US$0.165. DBS cut its target price from US$0.24 to US$0.10.

    MUST closed Friday (Jul 28) at US$0.111, down 34.3 per cent since the fateful announcement.

    BT Correspondentsmanulife us reitPrime US ReitKeppel Pacific Oak US ReitUnited Hampshire US ReitCommercial propertyS-ReitsSpotlight

    TRENDING NOW

    From left: Pham Nhat Quan Anh, Pham Nhat Vuong, Pham Thu Huong and Pham Nhat Minh Hoang. The couple (centre) remain senior figures in Vingroup, with their children’s presence in the ecosystem growing.

    He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons

    CPIB officers have visited the premises of Multi-Chem and seized several documents under the probe.

    CPIB hauls Multi-Chem CEO, COO in for questioning; stock hits ‘circuit breaker’

    Rivervale Mall is at the junction of Rivervale Crescent and Rivervale Drive in north-eastern Singapore.

    SC Capital Partners sells Rivervale Mall in Sengkang for around S$276 million

    BT takes a look at big names in the segment – both home-grown Singapore champions and massive regional operators.

    From Haidilao to Oriental Kopi: How some of Asia’s favourite F&B players are faring in 2026

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More