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BNB Podcast

Manulife US REIT – Outperforming market occupancy & sub-leasing

DDM TP (COE 9.1%) cut from US$0.92 to US$0.84 as we lower FY21-24e DPUs by 10.2-11.7% to reflect leasing weakness. Still, maintain BUY as we are forecasting FY21e DPU yield of 8.3%.
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Manulife US REIT – Outperforming market occupancy & sub-leasing

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