MNULF (Manulife US REIT) Debt-to-Asset : 0.55 (As of Jun. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

MNULF Manulife US REIT MNULF
29 GF Score
Price $0.13
GF Value $0.13
! 7 Warning Signs
View Full Analysis

What is Manulife US REIT Debt-to-Asset?

Manulife US REIT MNULF 29 Debt-to-Asset is 0.55 as of Jun. 2026. GuruFocus rates MNULF with a GF Score™ of 29/100 and a GF Value™ of $0.13. The stock has 7 warning signs investors should review.

Manulife US REIT's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Jun. 2026 was $133.1 Mil. Manulife US REIT's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Jun. 2026 was $362.6 Mil. Manulife US REIT's Long-Term Debt & Capital Lease ObligationTotal Assets for the quarter that ended in Jun. 2026 was $898.8 Mil. Manulife US REIT's debt to asset for the quarter that ended in Jun. 2026 was 0.55.

Manulife US REIT  (OTCPK:MNULF) Debt-to-Asset Explanation

In the calculation of Debt-to-Asset, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Assets.

Manulife US REIT Debt-to-Asset Related Terms

Manulife US REIT Debt-to-Asset Historical Data

* Premium members only.

The historical data trend for Manulife US REIT's Debt-to-Asset can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Manulife US REIT Debt-to-Asset Chart

Manulife US REIT Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Debt-to-Asset
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.43 0.49 0.58 0.61 0.59

Manulife US REIT Semi-Annual Data
Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 Jun26
Debt-to-Asset Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.56 0.61 0.58 0.59 0.55

MNULF vs BXP, ARE, VNO: Debt-to-Asset Comparison

For the REIT - Office subindustry, Manulife US REIT's Debt-to-Asset, along with its competitors' market caps and Debt-to-Asset data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Manulife US REIT Debt-to-Asset vs REITs Industry

For the REITs industry and Real Estate sector, Manulife US REIT's Debt-to-Asset distribution charts can be found below:

* The bar in red indicates where Manulife US REIT's Debt-to-Asset falls into.


MNULF
29GF Score
Manulife US REIT MNULF
Debt-to-Asset is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Manulife US REIT Debt-to-Asset Calculation

Debt to Asset measures the financial leverage a company has.

Manulife US REIT's Debt-to-Asset for the fiscal year that ended in Dec. 2025 is calculated as

Debt-to-Asset=Total Debt / Total Assets
=(Short-Term Debt & Capital Lease Obligation + Long-Term Debt & Capital Lease Obligation) / Total Assets
=(35.469 + 529.876) / 956.417
=0.59

Manulife US REIT's Debt-to-Asset for the quarter that ended in Jun. 2026 is calculated as

Debt-to-Asset=Total Debt / Total Assets
=(Short-Term Debt & Capital Lease Obligation + Long-Term Debt & Capital Lease Obligation) / Total Assets
=(133.149 + 362.62) / 898.755
=0.55

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Debt-to-Asset →
What does a Debt-to-Asset of 0.55 mean?
Manulife US REIT (MNULF) has a Debt-to-Asset of 0.55 as of Jun. 2026. Debt-to-asset ratio represents the ratio of total debt to total assets. View historical data on Manulife US REIT and its competitors.
Is Manulife US REIT's Debt-to-Asset too high?
Manulife US REIT's current Debt-to-Asset is 0.55. Overall, Manulife US REIT has a GF Score™ of 29/100, reflecting its overall financial health beyond just this single metric.
How does Manulife US REIT's Debt-to-Asset compare to BXP and ARE?
Manulife US REIT's Debt-to-Asset of 0.55 can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Asset for a REITs company?
A good Debt-to-Asset depends on the REITs industry context. However, Debt-to-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Asset mean?
A high Debt-to-Asset can signal that a stock is expensive relative to its fundamentals. Debt-to-asset ratio represents the ratio of total debt to total assets. View historical data on Manulife US REIT and its competitors. Manulife US REIT's current Debt-to-Asset is 0.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Manulife US REIT stock overvalued right now?
Manulife US REIT (MNULF) has a current Debt-to-Asset of 0.55. The stock's GF Value™ is $0.13, compared to a current price of $0.13 — trading 2% below its estimated fair value. The current Debt-to-Asset is 0.55. Manulife US REIT's overall GF Score™ is 29/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Asset calculated?
Debt-to-Asset is calculated from a company's financial statements. For Manulife US REIT (MNULF), the current Debt-to-Asset is 0.55 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Manulife US REIT (MNULF) Overvalued in 2026?

Based on GuruFocus' analysis, Manulife US REIT stock appears to be undervalued. The current stock price of $0.13 is trading 2% below its estimated GF Value™ of $0.13.

Key valuation signals for MNULF:

  • Debt-to-Asset: 0.55
  • GF Value™: $0.13 vs. price of $0.13 (2% below fair value)
  • GF Score™: 29/100 with 7 warning signs

No single metric tells the full story. See the MNULF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Manulife US REIT Business Description

Industry Real EstateREITs
Other Exchanges BTOU:Singapore
Address 8 Cross Street, No.16-03 Manulife Tower, Singapore, SGP, 048424
Manulife US REIT is a Singapore-listed real estate investment trust that invests in income-producing office properties in the United States. It is externally managed by Manulife US Real Estate Management Pte. Ltd., a subsidiary of Manulife Investment Management. The trust's portfolio consists primarily of Class A and trophy office assets in U.S. gateway and select secondary markets, including properties in California, New Jersey, Georgia, Virginia, and Washington, D.C. Its tenants are mainly corporate and professional services firms, government-related entities, and financial institutions. Revenue is generated primarily through rental income from long-term office leases, supplemented by property-related income. The trust has faced pressure from the shift to hybrid work and elevated U.S. office vacancy, and has pursued asset sales and portfolio repositioning. It is listed on the Singapore Exchange and trades over the counter in the United States.
29GF Score

Get the complete analysis for MNULF

Debt-to-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$0.13
Price
$0.13
GF Value