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Manulife US REIT’s portfolio resilient against short-term uncertainty: PhillipCapital

Felicia Tan
Felicia Tan8/6/2020 05:35 PM GMT+08  • 1 min read
Manulife US REIT’s portfolio resilient against short-term uncertainty: PhillipCapital
Ong has maintained her “buy” call with a higher target price of 90 US cents ($1.23), previously 80 US cents.
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PhillipCapital analyst Natalie Ong is optimistic on Manulife US REIT (MUST)’s portfolio due to its positive rental reversions of 7.9% for 1H20, minimal rent abatement and deferments, as well as zero requests from its tenants to right-size their assets so far.

For 1H20 ended June, the REIT also posted a long weighted average lease expiry (WALE) of 5.7 years, low expiries, a low expiry rate in FY20/21, as well as quality tenants and a tight comparable supply in the markets the REIT has a presence in.

On this, Ong has maintained her “buy” call with a higher target price of 90 US cents ($1.23), previously 80 US cents.

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