Yesterday, Manulife US REIT announced its full-year results. This was the first result since their acquisition of Capitol Mall in Sacramento.
The results was not a good one.
Dividend per unit fell 5.9% from 1.53 cents in Q4 2018 to 1.44 in Q4 2019.
Before Jagjit (the previous CFO) left, he told us to focus on the adjusted DPU. Due to the numerous acquisitions, it would be difficult to track what is the dividends based on the enlarged outstanding unit base.
So let me focus on it.
The Adjusted DPU dropped 4.6% from 1.53 cents to 1.46 cents.
Since this was a six-figure position for me, let me provide some updates. This will be a short update since I have written enough about Manulife US REIT.
Michelson’s Lower OccupancyManagement updated in their financial statements that much of the fall in DPU was due to
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