Manulife US Reit’s manager and sponsor group need to deliver real value rather than just words
Even after the Reit’s gearing breached 40 per cent in 2020, it made further acquisitions and did not sell assets that would soon be marked down
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THE greatest strength of Manulife US Reit’s manager may be its proactive and persuasive communications.
This past week, on Feb 9, I listened in on its earnings call, expecting to hear its top officials defend themselves for the collapse in the market value of the real estate investment trust (Reit)’s units over the past year. Instead, participants on the call seemed more excited to hear about the manager’s efforts to set the beleaguered Reit on a stronger financial footing and reposition its portfolio.
Analysts who were still covering Manulife US Reit last week were similarly focused on the prospects for its recovery.
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