MNUL.F Stock Overview

Manulife US Real Estate Investment Trust (“Manulife US REIT” or “MUST”) is the first pure-play U.S. More details

MNUL.F fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	3/6
Past Performance	0/6
Financial Health	3/6
Dividends	0/6

Rewards

Trading at 64.3% below our estimate of its fair value

Earnings are forecast to grow 105.87% per year

Risk Analysis

Shares are highly illiquid

My Notes

Capture your thoughts, links and company narrative

Manulife US Real Estate Investment Trust Competitors

KBS Real Estate Investment Trust III

OTCPK:KBSR

US$133.7m

Equity Commonwealth

NYSE:EQC

US$190.3m

City Office REIT

NYSE:CIO

US$218.8m

Office Properties Income Trust

NasdaqGS:OPI

US$56.9m

Price History & Performance

Summary of share price highs, lows and changes for Manulife US Real Estate Investment Trust
Historical stock prices
Current Share Price	US$0.0013
52 Week High	US$0.0013
52 Week Low	US$0.0013
Beta	0
1 Month Change	0%
3 Month Change	n/a
1 Year Change	n/a
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	0%

Recent updates

Shareholder Returns

	MNUL.F	US Office REITs	US Market
7D	0%	-5.8%	-2.4%
1Y	n/a	6.9%	23.4%

Return vs Industry: Insufficient data to determine how MNUL.F performed against the US Office REITs industry.

Return vs Market: Insufficient data to determine how MNUL.F performed against the US Market.

Price Volatility

Is MNUL.F's price volatile compared to industry and market?
MNUL.F volatility
MNUL.F Average Weekly Movement	n/a
Office REITs Industry Average Movement	4.5%
Market Average Movement	6.3%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	3.1%

Stable Share Price: MNUL.F has not had significant price volatility in the past 3 months.

Volatility Over Time: Insufficient data to determine MNUL.F's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
2015	18	Tripp Gantt	www.manulifeusreit.sg

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.

Manulife US Real Estate Investment Trust Fundamentals Summary

How do Manulife US Real Estate Investment Trust's earnings and revenue compare to its market cap?
MNUL.F fundamental statistics
Market cap	US$106.59m
Earnings (TTM)	-US$379.96m
Revenue (TTM)	US$208.03m

0.5x

P/S Ratio

-0.3x

P/E Ratio

Is MNUL.F overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
MNUL.F income statement (TTM)
Revenue	US$208.03m
Cost of Revenue	US$101.25m
Gross Profit	US$106.77m
Other Expenses	US$486.74m
Earnings	-US$379.96m

Last Reported Earnings

Dec 31, 2023

Next Earnings Date

n/a

Earnings per share (EPS)	-0.21
Gross Margin	51.33%
Net Profit Margin	-182.65%
Debt/Equity Ratio	151.4%

How did MNUL.F perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/03/09 03:14
End of Day Share Price	2023/12/11 00:00
Earnings	2023/12/31
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Manulife US Real Estate Investment Trust is covered by 9 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Mun Yee Lock	CGS International
Su Teng Tan	Citigroup Inc
Citi Research	Citigroup Inc