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Manulife US Real Estate Investment Trust

Manulife US Real Estate Investment Trust

BTOU.SI
Manulife US Real Estate Investment TrustSG flagStock Exchange of Singapore
0.05
USD
- -
- -
94.16MMarket Cap
Manulife US Real Estate Investment Trust
BTOU.SI
(Stock Exchange of Singapore)

Recent

price

0.05

P/E

ratio

- -

div

yld

- -

ROIC.AI

2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
0.16
0.16
0.16
0.07
0.11
0.12
0.13
0.12
0.12
0.11
0.12
0.09
- -
0.13
Revenue per Share
0.05
0.06
0.06
0.08
0.07
0.05
0.03
-0.03
0.02
-0.07
-0.21
-0.1
- -
0.04
Basic EPS, GAAP
- -
- -
0.07
0.02
0.05
0.05
0.06
0.05
0.06
0.05
0.04
0.03
- -
0.06
Free Cash Flow per Basic Share
- -
- -
0.04
- -
0.05
0.05
0.07
0.04
0.05
0.05
0.02
- -
- -
0.07
Dividend per Share
- -
- -
1.13
0.8
1.06
0.9
0.9
0.73
0.74
0.58
0.34
0.23
- -
0.94
Book Value per Share
- -
- -
1.13
0.8
1.06
0.9
0.9
0.73
0.74
0.58
0.34
0.23
- -
0.94
Tangible Book Value per Share
435
435
435
687
803
1,176
1,399
1,576
1,603
1,767
1,777
1,835
- -
1,344
Basic Weighted Avg Shares
70
70
71
48
92
145
178
194
185
203
208
168
114
178
Sales/Revenue/Turnover
55.06
54.52
54.2
56.72
56.26
56.27
55.3
53.49
53.09
50.2
49.76
43.51
42.25
55.3
Operating Margin (%)
- -
- -
- -
-3
-4
-4
-4
-1
2
4
8
9
10
-4
Depreciation Expense
23
24
26
52
58
65
48
-43
39
-130
-380
-178
-88
48
Net Income, GAAP
5.46
5.26
4.96
30.23
21.42
18.51
18.06
- -
2.82
- -
- -
- -
- -
18.06
Effective Tax Rate (%)
32.73
34.27
36.61
108.76
62.98
44.63
26.74
-22.28
21.29
-64.04
-182.65
-106.22
-76.95
26.74
Profit Margin (%)
- -
- -
12
31
37
-65
-40
-163
-278
-63
47
79
66
-40
Working Capital
- -
- -
294
294
458
557
733
619
675
884
870
746
529
733
LT Debt
- -
- -
490
547
852
1,064
1,258
1,158
1,188
1,020
609
431
343
1,258
Total Equity
- -
- -
9.31
2.31
3.77
4.35
4.24
- -
4.58
- -
- -
- -
- -
4.24
Return on Invested Capital (%)
- -
- -
8.79
6.76
6.03
5.2
3.56
- -
3.14
- -
- -
- -
- -
3.56
Return on Capital (%)
- -
- -
10.59
9.96
8.29
6.73
4.1
-3.58
3.36
-11.75
-46.65
-34.26
-22.66
4.1
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'19
Sep'19
Dec'19
ST Debt
115
76
79
LT Borrowings
604
649
733
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,402
1,492
1,573
Market Capitalization
1,122
1,197
1,344

Working Capital

FRC

•

in mil. unless spec.
Jun'19
Sep'19
Dec'19
Total Current Assets
71
131
71
Cash, Cash Equivalents & STI
63
112
61
Accounts Receivable, Net
7
8
3
Inventories
- -
- -
- -
Total Current Liabilities
177
127
111
Payables & Accruals
- -
- -
- -
ST Debt
115
76
79
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
0.1%
-20.29%
-20.35%
Free Cash Flow
22.88%
-15.64%
-36.82%
Net Income, GAAP
-62.6%
-106.24%
-50.76%
Sales/Revenue/Turnover
10.6%
-8.81%
-32.02%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
208
2024
- -
- -
- -
- -
168
2025
- -
- -
- -
- -
114

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
-0.21
2024
- -
- -
- -
- -
-0.1
2025
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.02
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
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Business
Manulife US Real Estate Investment Trust (BTOU.SI) is a Singapore-listed real estate investment trust that invests in and manages a portfolio of income-producing office, retail, and industrial properties located in the United States. The trust's primary assets include Class A office properties in key gateway cities such as Los Angeles, California, and Bellevue, Washington; retail centers anchored by major national tenants; and industrial/logistics facilities in high-demand markets, generating stable rental income through long-term leases with creditworthy tenants. It offers unitholders exposure to premium US commercial real estate via monthly distributions, active asset management, and portfolio optimization strategies focused on value enhancement and capital recycling. Established in 2016 and listed on the Singapore Exchange's Main Board, the trust is externally managed by Manulife US Real Estate Management Pte. Ltd., a subsidiary of Manulife Financial Corporation, with its principal place of business in Singapore. Operations span prime US markets on the West Coast and Sunbelt regions, targeting institutional investors seeking diversified, yield-oriented real estate investments outside Asia. The portfolio emphasizes sustainable properties with modern amenities, ESG-compliant practices, and repositioning initiatives to meet evolving tenant demands for flexible workspaces and experiential retail. In recent developments, the trust completed the divestment of non-core assets, including the sale of its Harbor Place retail property in San Diego for US$51.5 million in early 2024, enabling capital recycling into higher-yield opportunities. It secured a significant lease renewal and expansion with a major tenant at its flagship office asset, Shorepoint Plaza in Bellevue, extending occupancy through 2033 and bolstering near-term income stability. Additionally, the trust announced enhancements to its asset management framework in 2024-2025, including proactive lease-up strategies amid market recovery and exploration of industrial sector expansions to capitalize on e-commerce-driven demand.