SINGAPORE (Nov 8): Religare Institutional Research has started Manulife US Real Estate Investment Trust with a “buy” recommendation and target price of 95 UScents, given its exposure to the US office market which continues to recover from the global financial crisis.
In particular, Religare’s analyst Pang Ti Wee expects the trust’s three operating markets – Atlanta, Los Angeles and Orange Country – to see Class A occupancies increase by 1.5% and its new lease rentals to increase by 6.7% within the next two years.
In addition, the REIT is protected against any interest rate hikes by the Federal Reserve as all of its debt is borrowed under a fixed rate and does not need to refinance any of its debt until 2019.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
