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Manulife US REIT ( (SG:BTOU) ) has provided an announcement.
Manulife US REIT reported first-quarter 2026 portfolio occupancy of 67.6% and a weighted average lease expiry of 4.7 years, with 141,000 square feet of leases signed at slightly positive rent reversions. The trust continues to benefit from a diversified tenant base and long-dated leases, particularly with eight of its top 10 tenants renewed and a 4.9-year WALE for this group.
The planned US$92.5 million sale of the under-occupied Figueroa tower in downtown Los Angeles is progressing, with completion expected by June and net proceeds earmarked to repay 2026 loans and part of 2027 maturities. Including earlier asset disposals, Manulife US REIT will have repaid about US$389 million of debt since November 2024, improving aggregate leverage from 58.0% to a pro forma 55.4% and raising pro forma occupancy to 73.2%, which strengthens liquidity and supports compliance with financial covenants.
Leasing momentum remained steady, as five of seven leases signed in the quarter were above market rents and most required no tenant improvement allowance, preserving capital and boosting net effective rents. Management is actively pursuing roughly 1.0 million square feet of leasing opportunities with a focus on low-capex, higher-margin deals to maximise liquidity and support future portfolio diversification and growth.
The most recent analyst rating on (SG:BTOU) stock is a Hold with a $0.10 price target. To see the full list of analyst forecasts on Manulife US REIT stock, see the SG:BTOU Stock Forecast page.
More about Manulife US REIT
Manulife US REIT is a Singapore-listed real estate investment trust focused on owning and managing a portfolio of U.S. office properties. Its assets cater to blue-chip corporate and government tenants across key American markets, with rental income driven by long-term leases, annual rent escalations, and sector diversification in finance, legal, retail, and public administration.
Average Trading Volume: 1,755,665
Technical Sentiment Signal: Strong Sell
Current Market Cap: $103M
See more data about BTOU stock on TipRanks’ Stock Analysis page.