Manulife US Real Estate Investment Trust (“Manulife US REIT” or “MUST”) is the first pure-play U.S. office REIT listed in Asia. It is a Singapore listed REIT established with the investment strategy principally to invest, directly or indirectly, in a portfolio of income-producing office real estate in key markets in the United States (“U.S.”), as well as real estate-related assets. MUST’s portfolio comprises 10 freehold office properties in Arizona, California, Georgia, New Jersey, Virginia and Washington D.C. The current portfolio has an aggregate net lettable area of 5.1 million sq ft and was last independently valued at US$1.4 billion as at 31 December 2023.
Metrics to compare | MANU | Sector Sector - Average of metrics from a broad group of related Real Estate sector companies | Relationship RelationshipMANUPeersSector | |
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P/E Ratio | −0.6x | −1.2x | 8.4x | |
PEG Ratio | −0.01 | 0.05 | 0.01 | |
Price/Book | 0.3x | 0.3x | 0.9x | |
Price / LTM Sales | 0.7x | 1.3x | 3.7x | |
Upside (Analyst Target) | 93.5% | 37.3% | 17.5% | |
Fair Value Upside | Unlock | 22.0% | 3.0% | Unlock |