Manulife US REIT (MUST) has posted distributable income of US$43 million ($58.4 million) for the 1HFY2021 ended June, falling 10.4% from the corresponding period the year before.
Distribution per unit (DPU) for the period was 2.7 US cents, 11.5% lower y-o-y from 3.05 US cents previously.
The lower distribution was underpinned by lower gross revenue and net property income, which decreased 7.9% and 9.8% y-o-y to US$90.8 million and US$56.1 million respectively, following lower rental income from Michelson, Centerpointe and Capitol.
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