ManulifeReit USD    Last:0.054    -0.001

Manulife US REIT IPO

Yesterday recieved confirmation for the investor day to be held on 3rd nov, so first thing was to check up on the stock price and announcement. Got a shock siah what happen? yield hit 13%?!?

 

Feels more like panic selling, shortists jumping into the profit bandwagon, feels oversold seriously
Even with all the negative news and rising interest rates
If for long term investment, maybe can consider accumulating
If for trading, it could drop further again towards end of the year
 

jackass      ( Date: 19-Oct-2022 13:14) Posted: The female CEO Caroline Fong every night kana shagged by AMDK, end up cannot do work properly See lah, now stock price uplorry PhillipTan      ( Date: 18-Oct-2022 23:29) Posted: There is lower overall occupancy - 2Q22 overall portfolio occupancy fell to 90.0%, driven by non-renewals and downsizing in existing properties - Two of MUST' s top 10 tenants by gross rental income, TCW group (3.8% of GRI) and Quinn Emanuel (2.9% of GRI), have plans to vacate by end-23 and have already downsized its offices in MUST' s Figeuroa asset. Then there is the impact of rising interest rates - As of end-2Q22, 85.7% of MUST' s borrowings were fixed-rate loans. Every 1% increase in interest rates will impact DPU by 0.079 US cents, which is a roughly 1.5% impact on DPU - Interest rates are anticipated to rise further Strengthening of USD hitting new highs in decades will also be another concern for local investors Share price may have fallen but we will need to pay more due to the rising interest rates If these are still not bad news for MUST, then I think you must be very optimistic about MUST... Not bad... That said, it still feels oversold for me If you still have any spare bullets, any price below USD 40 cents will be a good buy IMHO Should be seeing a rebound tomorrow

 

The female CEO Caroline Fong every night kana shagged by AMDK, end up cannot do work properly

See lah, now stock price uplorry

PhillipTan      ( Date: 18-Oct-2022 23:29) Posted: There is lower overall occupancy - 2Q22 overall portfolio occupancy fell to 90.0%, driven by non-renewals and downsizing in existing properties - Two of MUST' s top 10 tenants by gross rental income, TCW group (3.8% of GRI) and Quinn Emanuel (2.9% of GRI), have plans to vacate by end-23 and have already downsized its offices in MUST' s Figeuroa asset. Then there is the impact of rising interest rates - As of end-2Q22, 85.7% of MUST' s borrowings were fixed-rate loans. Every 1% increase in interest rates will impact DPU by 0.079 US cents, which is a roughly 1.5% impact on DPU - Interest rates are anticipated to rise further Strengthening of USD hitting new highs in decades will also be another concern for local investors Share price may have fallen but we will need to pay more due to the rising interest rates If these are still not bad news for MUST, then I think you must be very optimistic about MUST... Not bad... That said, it still feels oversold for me If you still have any spare bullets, any price below USD 40 cents will be a good buy IMHO Should be seeing a rebound tomorrow   mr_wealth      ( Date: 18-Oct-2022 20:12) Posted: There is no bad news yet there is a big sell off today. Quite unjustifiable

 

There is lower overall occupancy
- 2Q22 overall portfolio occupancy fell to 90.0%, driven by non-renewals and downsizing in existing properties
- Two of MUST' s top 10 tenants by gross rental income, TCW group (3.8% of GRI) and Quinn Emanuel (2.9% of GRI), have plans to vacate by end-23 and have already downsized its offices in MUST' s Figeuroa asset.

Then there is the impact of rising interest rates
- As of end-2Q22, 85.7% of MUST' s borrowings were fixed-rate loans. Every 1% increase in interest rates will impact DPU by 0.079 US cents, which is a roughly 1.5% impact on DPU
- Interest rates are anticipated to rise further

Strengthening of USD hitting new highs in decades will also be another concern for local investors
Share price may have fallen but we will need to pay more due to the rising interest rates

If these are still not bad news for MUST, then I think you must be very optimistic about MUST... Not bad...
That said, it still feels oversold for me
If you still have any spare bullets, any price below USD 40 cents will be a good buy IMHO
Should be seeing a rebound tomorrow
 

mr_wealth      ( Date: 18-Oct-2022 20:12) Posted: There is no bad news yet there is a big sell off today. Quite unjustifiable

 

I think this time the market has 3 major concerns - US inflation and rates, the Ukraine War and China COVID/slowdown.    Strong SGD is a blessing and also weighs on growth and currency translation. Impacts a lot of other stocks, and not just MUST.

 

its amazing that you still lose money when you buy low because you sell lower later

 

There is no bad news yet there is a big sell off today. Quite unjustifiable

 

wait for you to sell first?

Riskless      ( Date: 18-Oct-2022 13:22) Posted: my holding shaved 50% already.....damn it....worthless counter... Riskless      ( Date: 18-Oct-2022 13:15) Posted: wtf is happening to this counter!!! THROW ALL YOUR HOLDINGS TO MAKE IT $0.00

 

my holding shaved 50% already.....damn it....worthless counter...

Riskless      ( Date: 18-Oct-2022 13:15) Posted: wtf is happening to this counter!!! THROW ALL YOUR HOLDINGS TO MAKE IT $0.00

 

wtf is happening to this counter!!! THROW ALL YOUR HOLDINGS TO MAKE IT $0.00

 

Someone dumped 1.44 M number of shares at 15.25 h. Price plunged from $0.42 to $0.39!

 

 

This counter keeps on dropping!
Sad. 

Every 1% rate hike expected to cause 0.08 cents decline in dividend. 

But sigh, is there no one else out there who believes in this counter?

 

 

good for the company ... buy buy for higher price later 

asdzxc      ( Date: 05-Aug-2022 09:58) Posted: Joelton      ( Date: 06-Jun-2022 09:23) Posted: Manulife US Reit&rsquo s new CEO keen to tap co-working, tailwind sectors for growth Tripp Gantt wants to build a higher proportion of growth tenants, and this will be done through capital recycling, not acquisitions, for now   THE US office sector is facing its greatest identity crisis yet, as Covid-19 ushered in an era of hybrid work, and Tripp Gantt has just taken over the reins at pure-play US office real estate investment trust (Reit) Manulife US Reit : BTOU +1.68% (MUST).   Gantt, who was most recently the second-in-command of the real estate division of Washington State Investment Board (WSIB), a US pension fund with a US$29.6 billion in real estate assets under management (AUM), believes he is the right man for the job.   &ldquo My job has always been to look at both macroeconomic trends, sociological trends, and see opportunities that other people don&rsquo t see, and capitalise on them, and be decisive, take action, and actually make them happen,&rdquo Gantt told The Business Times.   The 52-year-old newly installed chief executive officer (CEO) of MUST&rsquo s manager was giving his first media interview since succeeding the Reit&rsquo s founding CEO Jill Smith, 68, on May 6.   His appointment comes as the Reit clocked a 52-week low of US$0.58 on May 26 &ndash down 13.4 per cent year to date &ndash following the release of its quarterly report, which saw a dip in portfolio occupancy: from 92.3 per cent as at end-2021 to 91.7 per cent as at Mar 31.   Having barely recovered from the Covid-induced plunge in March 2020, when prices fell to a low of US$0.555, the counter has returned -20 per cent since going public in 2016. The poor performance is stark when compared with the FTSE ST Real Estate Investment Trusts Index, which brought 15.5 per cent in total returns over the same period.   For those who reinvested their dividends into the security, the total return was 17.4 per cent, which translates to an annual equivalent of 2.7 per cent, compared with 59.7 per cent in the Index&rsquo s case, or an annual equivalent of 8.1 per cent.   The return on equity for MUST has been relatively low over the past few years, prompting questions as to what the new CEO can do to turn around the counter&rsquo s underperformance.   Focus on income   Gantt said he brings with him expertise in formulating and seeing through creative real estate strategies, as he cited his track record with growing WSIB&rsquo s real estate AUM from US$5 billion when he joined the pension fund in 2005 to US$27 billion by the time he left. MUST, in comparison, is a Reit with US$2.2 billion in AUM.   &ldquo WSIB&rsquo s mandate is to provide a long-term, high-quality income stream for its pensioners and, really, my job was devising strategies and implementing strategies to achieve that objective. That lines up really well with what a Reit does,&rdquo said Gantt, who joined the Reit as deputy CEO in January. &ldquo A Reit&rsquo s primary objective is to provide stable income and sustainable growth to its unitholders.&rdquo   It helped that WSIB did not invest like a lot of pension funds that limit their influence to capital allocation, he noted. His former job scope had him creating operating companies and investment management organisations that work only for WSIB outside the US, he said.   As an investment officer, he spent a substantial amount of time pounding the ground in Asia&rsquo s growth markets.   In fact, across the street from his current office on Cross Street sits a row of shophouses he had a hand in injecting life into &mdash by helping to establish 8M Real Estate, a property investment company now with more than S$800 million AUM.   When he got involved back in 2012, historical shophouses weren&rsquo t seen as an institutional asset class yet. But Gantt said he saw potential for both strong income growth and capital appreciation.   &ldquo It&rsquo s supply and demand dynamics,&rdquo he said. &ldquo We saw that they&rsquo re not making any more of them, so there&rsquo s limited supply. We also saw that Singaporeans love to eat out, and we always try to focus on necessity &ndash necessity real estate is what provides the most stable income stream, because it&rsquo s something that people have to use every day.&rdquo   Creative strategy, creative revenue   Gantt sees his first priority as putting MUST a step ahead of US employees&rsquo slow return to the office.   Physical occupancy at MUST&rsquo s 12 properties had been a frustrating indicator to watch, rising from 11.1 per cent in the first quarter of 2021 to 29 per cent in the fourth quarter before yo-yoing between 25.3 per cent and 34 per cent this year.   Gantt himself noted that there are &ldquo a lot of conflicting signs&rdquo of what space needs are going to be and what office demand is going to be, so he has made it his first order of business to walk the ground and hear from tenants directly.   &ldquo Tenants have a lot of power right now in how much space they need, how much rent they pay&hellip That&rsquo s largely a result of employees having a lot of power. Employers are having to look very carefully at what their employees want, and then that translates into their business needs,&rdquo he said.   Gantt said it is there important to identify the steadiest and broadest sources of demand.   He is entertaining several ideas, such as partnering with co-working operators to give tenants the flexibility they are looking for, and introducing dark kitchens to emptier carparks to tap the rise of food delivery.   He sees a spectrum of opportunities in the co-working space, and is assessing which would be the best fit for the Reit based on its assets and unitholders&rsquo interests.   The car park idea could suit Figueroa, its 35-storey Class A office building located in the South Park district of Downtown Los Angeles, given its competitive advantage of being in the middle of the city, Gantt said. The property comes with an adjacent car park with 841 lots.   Focus on capital recycling, not accretive acquisitions   As of Mar 31, MUST&rsquo s top 5 trade sectors by gross rental income are finance and insurance (21.1 per cent), legal (19.1 per cent), retail trade (12.5 per cent), information (7.9 per cent), and real estate (7.2 per cent).    Gantt hopes to bump up the proportion of tenants that are in high-growth markets or come from sectors with secular tailwinds, such as technology and information services. Such tenants are &ldquo probably going to be the ones that have the healthiest opportunities for growth&rdquo over time, he added.   He expects to sell certain assets and recycle the capital to achieve this mix, rather than add on new properties.   This is also his answer to MUST&rsquo s relatively high indicative gross yield of 8.4 per cent. The higher this figure, the harder it is for the Reit secure yield-accretive acquisitions in the near future.   While MUST could dilute its yield by issuing more units, doing so could also alienate retail investors who might not want to cough up more cash.   MUST had raised some US$100 million through a private placement for institutional and accredited investors last November, to partially fund the acquisitions of 3 properties.   The placement was priced at US$0.649, an 8.9 per cent discount to the counter&rsquo s volume-weighted average price, and units of the Reit fell from a price of US$0.71 before the Nov 30 announcement to US$0.68 thereafter.   MUST&rsquo s chief investor relations and capital markets officer Caroline Fong said MUST decided on a private placement as it needed to seal the deal expeditiously.   A rights issue would have taken 6 to 8 weeks, she said, during which the sellers could have walked away upon receiving a more compelling offer from other buyers.   It would also have been a hard sell for banks to underwrite a 6- to 8-week fundraising exercise in the current volatile market environment, she added.   Said Gantt: &ldquo (The yield) is largely a result of our share price, which is going to be driven largely by our performance, so... there is a feedback loop.   &ldquo As long as we are at this kind of yield, we&rsquo re going to continue to focus on recycling opportunities, rather than trying to focus on finding new accretive acquisitions in the short term.&rdquo   In any case, Gantt said he doesn&rsquo t know of any companies that have had a successful equity offering this year: &ldquo I think the challenges that are out there in terms of that yield and that cost of capital are real.&rdquo

 

Joelton      ( Date: 06-Jun-2022 09:23) Posted: Manulife US Reit&rsquo s new CEO keen to tap co-working, tailwind sectors for growth Tripp Gantt wants to build a higher proportion of growth tenants, and this will be done through capital recycling, not acquisitions, for now   THE US office sector is facing its greatest identity crisis yet, as Covid-19 ushered in an era of hybrid work, and Tripp Gantt has just taken over the reins at pure-play US office real estate investment trust (Reit) Manulife US Reit : BTOU +1.68% (MUST).   Gantt, who was most recently the second-in-command of the real estate division of Washington State Investment Board (WSIB), a US pension fund with a US$29.6 billion in real estate assets under management (AUM), believes he is the right man for the job.   &ldquo My job has always been to look at both macroeconomic trends, sociological trends, and see opportunities that other people don&rsquo t see, and capitalise on them, and be decisive, take action, and actually make them happen,&rdquo Gantt told The Business Times.   The 52-year-old newly installed chief executive officer (CEO) of MUST&rsquo s manager was giving his first media interview since succeeding the Reit&rsquo s founding CEO Jill Smith, 68, on May 6.   His appointment comes as the Reit clocked a 52-week low of US$0.58 on May 26 &ndash down 13.4 per cent year to date &ndash following the release of its quarterly report, which saw a dip in portfolio occupancy: from 92.3 per cent as at end-2021 to 91.7 per cent as at Mar 31.   Having barely recovered from the Covid-induced plunge in March 2020, when prices fell to a low of US$0.555, the counter has returned -20 per cent since going public in 2016. The poor performance is stark when compared with the FTSE ST Real Estate Investment Trusts Index, which brought 15.5 per cent in total returns over the same period.   For those who reinvested their dividends into the security, the total return was 17.4 per cent, which translates to an annual equivalent of 2.7 per cent, compared with 59.7 per cent in the Index&rsquo s case, or an annual equivalent of 8.1 per cent.   The return on equity for MUST has been relatively low over the past few years, prompting questions as to what the new CEO can do to turn around the counter&rsquo s underperformance.   Focus on income   Gantt said he brings with him expertise in formulating and seeing through creative real estate strategies, as he cited his track record with growing WSIB&rsquo s real estate AUM from US$5 billion when he joined the pension fund in 2005 to US$27 billion by the time he left. MUST, in comparison, is a Reit with US$2.2 billion in AUM.   &ldquo WSIB&rsquo s mandate is to provide a long-term, high-quality income stream for its pensioners and, really, my job was devising strategies and implementing strategies to achieve that objective. That lines up really well with what a Reit does,&rdquo said Gantt, who joined the Reit as deputy CEO in January. &ldquo A Reit&rsquo s primary objective is to provide stable income and sustainable growth to its unitholders.&rdquo   It helped that WSIB did not invest like a lot of pension funds that limit their influence to capital allocation, he noted. His former job scope had him creating operating companies and investment management organisations that work only for WSIB outside the US, he said.   As an investment officer, he spent a substantial amount of time pounding the ground in Asia&rsquo s growth markets.   In fact, across the street from his current office on Cross Street sits a row of shophouses he had a hand in injecting life into &mdash by helping to establish 8M Real Estate, a property investment company now with more than S$800 million AUM.   When he got involved back in 2012, historical shophouses weren&rsquo t seen as an institutional asset class yet. But Gantt said he saw potential for both strong income growth and capital appreciation.   &ldquo It&rsquo s supply and demand dynamics,&rdquo he said. &ldquo We saw that they&rsquo re not making any more of them, so there&rsquo s limited supply. We also saw that Singaporeans love to eat out, and we always try to focus on necessity &ndash necessity real estate is what provides the most stable income stream, because it&rsquo s something that people have to use every day.&rdquo   Creative strategy, creative revenue   Gantt sees his first priority as putting MUST a step ahead of US employees&rsquo slow return to the office.   Physical occupancy at MUST&rsquo s 12 properties had been a frustrating indicator to watch, rising from 11.1 per cent in the first quarter of 2021 to 29 per cent in the fourth quarter before yo-yoing between 25.3 per cent and 34 per cent this year.   Gantt himself noted that there are &ldquo a lot of conflicting signs&rdquo of what space needs are going to be and what office demand is going to be, so he has made it his first order of business to walk the ground and hear from tenants directly.   &ldquo Tenants have a lot of power right now in how much space they need, how much rent they pay&hellip That&rsquo s largely a result of employees having a lot of power. Employers are having to look very carefully at what their employees want, and then that translates into their business needs,&rdquo he said.   Gantt said it is there important to identify the steadiest and broadest sources of demand.   He is entertaining several ideas, such as partnering with co-working operators to give tenants the flexibility they are looking for, and introducing dark kitchens to emptier carparks to tap the rise of food delivery.   He sees a spectrum of opportunities in the co-working space, and is assessing which would be the best fit for the Reit based on its assets and unitholders&rsquo interests.   The car park idea could suit Figueroa, its 35-storey Class A office building located in the South Park district of Downtown Los Angeles, given its competitive advantage of being in the middle of the city, Gantt said. The property comes with an adjacent car park with 841 lots.   Focus on capital recycling, not accretive acquisitions   As of Mar 31, MUST&rsquo s top 5 trade sectors by gross rental income are finance and insurance (21.1 per cent), legal (19.1 per cent), retail trade (12.5 per cent), information (7.9 per cent), and real estate (7.2 per cent).    Gantt hopes to bump up the proportion of tenants that are in high-growth markets or come from sectors with secular tailwinds, such as technology and information services. Such tenants are &ldquo probably going to be the ones that have the healthiest opportunities for growth&rdquo over time, he added.   He expects to sell certain assets and recycle the capital to achieve this mix, rather than add on new properties.   This is also his answer to MUST&rsquo s relatively high indicative gross yield of 8.4 per cent. The higher this figure, the harder it is for the Reit secure yield-accretive acquisitions in the near future.   While MUST could dilute its yield by issuing more units, doing so could also alienate retail investors who might not want to cough up more cash.   MUST had raised some US$100 million through a private placement for institutional and accredited investors last November, to partially fund the acquisitions of 3 properties.   The placement was priced at US$0.649, an 8.9 per cent discount to the counter&rsquo s volume-weighted average price, and units of the Reit fell from a price of US$0.71 before the Nov 30 announcement to US$0.68 thereafter.   MUST&rsquo s chief investor relations and capital markets officer Caroline Fong said MUST decided on a private placement as it needed to seal the deal expeditiously.   A rights issue would have taken 6 to 8 weeks, she said, during which the sellers could have walked away upon receiving a more compelling offer from other buyers.   It would also have been a hard sell for banks to underwrite a 6- to 8-week fundraising exercise in the current volatile market environment, she added.   Said Gantt: &ldquo (The yield) is largely a result of our share price, which is going to be driven largely by our performance, so... there is a feedback loop.   &ldquo As long as we are at this kind of yield, we&rsquo re going to continue to focus on recycling opportunities, rather than trying to focus on finding new accretive acquisitions in the short term.&rdquo   In any case, Gantt said he doesn&rsquo t know of any companies that have had a successful equity offering this year: &ldquo I think the challenges that are out there in terms of that yield and that cost of capital are real.&rdquo

 

 

 

 

I bought this close to two years ago and have been adding on more since then
Recently I bought again at $0.645 when it dropped to $0.64
I figured that since it fell below the private placement price of $0.649, it makes sense to add even more hahaha
With higher div yield around 7%-8%, it is good to buy and keep for long
I think people generally avoid this stock because it' s gearing seems pretty high and especially with the fed hikes thingy, the price got hit even worse than it should
But to me, I feel that this is an opportunity to pick up cheap
And impact on the fed hikes thingy will only be short termed and as contracts get renewed or expired and replaced with new tenants, the increased costs will be factored into those new contracts
Hope my gut feeling is right hahaha
 

Kandee      ( Date: 17-Feb-2022 16:16) Posted: Haha, true... ownself analyse and ownself buy..... Been holding this stock since IPO and have bought it through the years, except during the Covid selldown, where MLR (as well as KORE and Prime) dropped to around 50 cents (haiz)...  Technically underwater on MLR but I think it is +ve with the divies collected.    Keeping for long term.  I think it will go up when the property valuation moves up once the pandemic subsides.    PhillipTan      ( Date: 17-Feb-2022 12:20) Posted: Ya lor And if you haven' t noticed, it seems like I am the one doing most of the posts in this thread too hahaha Not many people interested in this stock it seems