Centerpointe I & II (Photo: Manulife US REIT)

Data from Manulife US REIT’s latest results have been updated into the Singapore REITs table.

Manulife US REIT disclosed on 12 August that it gross revenue and net property income for 1H 2021 decreased by 7.9% and 9.8% year-on-year respectively.

This was mainly due to lower rental income from Michelson, Centerpointe and Capitol, arising from higher vacancies, rent abatements provided to tenants affected by COVID-19, and lower portfolio carpark income, said the REIT.

This translated to a distributable income of USD43.0 million, a decrease of 10.4% from the corresponding period a year ago.

As a result, the REIT announced a DPU of 2.70 US cents for 1H 2021, 11.5% lower from a year ago.

Manulife US REIT’s full disclosure on its results can be viewed here.

Manulife US REIT was last done on the Singapore Exchange at USD0.765, which currently implies a distribution yield of 7.06% according to data compiled on the Singapore REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.