On 4th August 2022, Manulife US REIT released their 1H 2022 Financial Results. Currently, Manulife US REIT makes up 7.51% of my stock portfolio. A Distribution Per Unit (DPU) of 2.61 US Cents was declared which will be paid on 27th September 2022.
Manulife US REIT 1H 2022 Financial Results
Gross revenue rose 10.6% Y-o-Y to US$100.4 million mainly due to contributions from the three properties (Tanasbourne, Park Place and Diablo) acquired in December 2021, higher carpark income and lower rent abatements. The gain was partly offset by lower rental income from existing properties as a result of higher vacancies. Net property income rose 2.8% to US$57.6 million, while distributable income increased 6.9% to US$46.0 million. Despite an increase in Gross Revenue and distributable income, Distribution Per Unit (DPU) for 1H 2022 fell 3.3% to 2.61 US cents. This was due to lower...