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OLAM_OLAM
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piscesmonkey
Supreme |
08-Nov-2024 07:31
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Powell said the US presidential election will have &ldquo no effects&rdquo on the central bank&rsquo s policy decisions in the near-term https://www.theedgesingapore.com/news/us-economy/fed-cuts-rates-powell-says-wouldnt-resign-if-asked-trump |
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piscesmonkey
Supreme |
07-Nov-2024 17:55
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Hope for jumbo cuts 😂
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TraderBen
Supreme |
07-Nov-2024 17:44
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Tonight announce rate cuts right? | ||||
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piscesmonkey
Supreme |
07-Nov-2024 16:54
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Bb start coming nice👍 | ||||
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piscesmonkey
Supreme |
07-Nov-2024 16:43
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Look like 10cents good support | ||||
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piscesmonkey
Supreme |
07-Nov-2024 15:28
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Fed better jumbo cuts
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piscesmonkey
Supreme |
07-Nov-2024 15:27
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That is shortist today alot shortis at reits. Let see if they cover later. Since tonight rate cuts still not sure how much say is 25point . Last month also say 25point yet 50point
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LP2020
Senior |
07-Nov-2024 15:03
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someone (roboadviser perhaps) is having fun selling 300 shares lots :-) do they want to get un-noticed? | ||||
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piscesmonkey
Supreme |
07-Nov-2024 12:47
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Tonight rate cuts. Since maybe next year lesser cuts but maybe fed give jumbo cuts each time? Who knows😂 | ||||
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piscesmonkey
Supreme |
07-Nov-2024 11:30
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Seee prime start to recover
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piscesmonkey
Supreme |
07-Nov-2024 11:27
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We see tonight rate cuts
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LP2020
Senior |
07-Nov-2024 11:22
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Interesting how this one with still some good news, dropped lower -7%, now, while prime managed to hoover around its closing price last night...let' s see if there is still support at 100/99 and when is recovering back |
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LP2020
Senior |
07-Nov-2024 11:14
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Trump talks a lot, many things we like to hear if it can be achieved, it is yet to see. Anyway, market seems to have preferred this cheap instead of the other. So, how low can this go? After -5.50% A safe re-entry point? | ||||
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huattuatua
Elite |
07-Nov-2024 11:01
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u should know trump is a maverick rite?
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piscesmonkey
Supreme |
07-Nov-2024 10:24
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 If this sure shoot up |
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LP2020
Senior |
07-Nov-2024 10:23
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manu as most of the reits are in red this morning, (some reits reddish than others :-) i guess there was first fear for many weak sellers and than sortists helped a bit for a gap down. Wait and see what the meeting tomorrow brings: fed could either go ahead with some expected cuts (probably 25) which could mean a recovery for all the reits and related stocks, or just slightly delay the decision for another time buying a bit of time to see in which direction the wind will blow stronger, which could mean for the reits to still hoover around this value, perhaps 107/110. I think at about this levels 104/107 should still be a safe bet if you can go long, contras can be risky as usual anyway dyod | ||||
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piscesmonkey
Supreme |
07-Nov-2024 10:19
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Yield start to drop liao 😁 | ||||
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piscesmonkey
Supreme |
07-Nov-2024 10:18
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Got cut later and dec consider good for reits. Siince alot company going back office work liao. Will start slowly recover back to 20cents
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piscesmonkey
Supreme |
07-Nov-2024 10:15
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Whack down collect cheap 😁
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LP2020
Senior |
07-Nov-2024 10:09
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https://links.sgx.com/1.0.0/corporate-announcements/WFX60Y9G9283UYNQ/636ff93b3522f46e6f69f508ab0bf61f7a83b442410d2f2466087be3db50f98a MANULIFE US REIT ON PATH TO RECOVERY WITH EARLY REPAYMENT OF 2025 DEBTS With divestment of Capitol in Sacramento completed, focus is on 2025 divestment target Evaluating all options to further reduce debt and resume distributions Exploring opportunities to diversify and expand portfolio Singapore, 6 November 2024 &ndash Manulife US Real Estate Management Pte. Ltd., the Manager of Manulife US Real Estate Investment Trust, said today that the divestment of an office property in California creates momentum to further reduce debt, grow the portfolio through diversification and resume distributions. The recent sale of Capitol in Sacramento, California, for US$117 million, along with existing cash has enabled it to fully repay US$130.7 million of outstanding loans maturing in 2025 while lowering its gearing from 58.2% to 54.3%. It aims to cut borrowings by approximately US$200 million next year. Two of its remaining nine properties are on the market and the Manager is exploring various opportunities, including transacting with off-market buyers and evaluating alternative transaction structures. Chief Executive Officer and Chief Investment Officer of the Manager John Casasante said: &ldquo Capitol was a milestone deal for us. It gives us significant momentum and confidence to move ahead with plans to further reduce our indebtedness and exit from the Master Restructuring Agreement. &ldquo Since the new management came onboard, we have hit the ground running and are actively evaluating opportunities that will set us on the path to recovery sooner rather than later. &ldquo With our risk management strategy on track, we hope to position Manulife US REIT for growth by diversifying and reshaping our portfolio and leveraging our Sponsor&rsquo s investment pipeline.&rdquo Mr Casasante, who took over the helm four months ago, explained that the all-cash sale of Capitol at a 26% discount to its 31 December 2023 valuation took into account all the uncertainties surrounding the US office market. Capitol was not only one of the few comparable office sales in California so far this year, it also achieved the highest per square foot sales price He added that the outlook for the US office sector is more positive compared to a year ago, supported by the rising trend of big companies mandating return-to-office, and recent cuts in interest rates. However, the environment for selling office properties remains challenging, with limited debt availability and institutional investors staying on the sidelines. There are signs that buyers are becoming more active in some submarkets as lower valuations make acquisitions more attractive and economically viable. Under a Master Restructuring Agreement (MRA) signed with lenders in December last year, the REIT is obliged to raise a minimum of US$328.7 million through asset divestments by 30 June 2025. &ldquo We have another two assets on the market and we are seeing off-market interest in other targeted properties in our portfolio. We are encouraged by the level of interest that we have received at this point and believe we should be in a position to achieve the milestones of the MRA.&rdquo Year-to-date, over 689,000 square feet of leases were signed. For the third quarter ended 30 September, the REIT reported occupancy of 77% with 261,000 square feet of leases signed or 5.2% of its portfolio net lettable area. The weighted average term of leases signed in the third quarter remains long at 6.5 years although rent reversion in the quarter was -1.7% excluding leases in Capitol. Six of nine office leases were signed above market rents. |
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