Manulife US REITMNULF 29 PB Ratio is 0.66 as of Jul. 07, 2026, which is 30% below its 10-year median of 0.94. GuruFocus rates MNULF with a GF Score™ of 29/100 and a GF Value™ of $0.12. The stock has 7 warning signs investors should review. Among 931 REITs companies, Manulife US REIT ranks better than 96.24% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-07), Manulife US REIT's share price is $0.1274. Manulife US REIT's Book Value per Share for the quarter that ended in Dec. 2025 was $0.19. Hence, Manulife US REIT's PB Ratio of today is 0.66.
Good Sign:
Manulife US REIT stock PB Ratio (=0.27) is close to 1-year low of 0.26.
The historical rank and industry rank for Manulife US REIT's PB Ratio or its related term are showing as below:
MNULF'
s PB Ratio Range Over the Past 10 Years
Min: 0.07 Med: 0.94 Max: 1.33
Current: 0.27
During the past 13 years, Manulife US REIT's highest PB Ratio was 1.33. The lowest was 0.07. And the median was 0.94.
MNULF's PB Ratio is ranked better than 96.24% of 931
companies
in the REITs industry
Industry Median: 0.87
vs MNULF: 0.27
During the past 12 months, Manulife US REIT's average Book Value Per Share Growth Rate was -20.20% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -30.50% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -25.40% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was -12.60% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Manulife US REIT was 5.10% per year. The lowest was -30.50% per year. And the median was -8.55% per year.
Back to Basics: PB Ratio
Manulife US REIT (OTCPK:MNULF) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Manulife US REIT PB Ratio Related Terms
Manulife US REIT PB Ratio Historical Data
* Premium members only.
The historical data trend for Manulife US REIT's PB Ratio 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.
For the REIT - Office subindustry, Manulife US REIT's PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs REITs Industry
For the REITs industry and Real Estate sector, Manulife US REIT's PB Ratio distribution charts can be found below:
* The bar in red indicates where Manulife US REIT's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Manulife US REIT (MNULF) has a PB Ratio of 0.66 as of Jul. 07, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Manulife US REIT and its competitors. This is 30% below median its historical median of 0.94. Over the past decade, Manulife US REIT's PB Ratio has ranged from 0.07 to 1.33. According to the industry distribution chart, Manulife US REIT ranks #35 out of 931 companies in the REITs industry, placing it in the top 3.8%.
Is Manulife US REIT's PB Ratio too high?
Manulife US REIT's current PB Ratio of 0.66 is 30% below median its 10-year median of 0.94. Over the past 10 years, this metric has ranged from a low of 0.07 to a high of 1.33. The REITs industry median PB Ratio is 0.87. Manulife US REIT's value of 0.66 is 24.1% below this industry median. Based on the distribution chart, Manulife US REIT ranks #35 out of 931 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. 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 PB Ratio compare to BXP and ARE?
According to the REITs industry distribution chart, Manulife US REIT ranks #35 out of 931 companies for PB Ratio. This places Manulife US REIT in the top 4% of its industry — outperforming the majority of peers. The industry median PB Ratio is 0.87. Manulife US REIT's value of 0.66 is 24.1% below this benchmark. Historically, Manulife US REIT's own PB Ratio has ranged from 0.07 to 1.33 over the past decade. While the company's 10-year median is 0.94 vs. the industry median of 0.87, Manulife US REIT has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a REITs company?
The median PB Ratio among REITs companies is 0.87, based on 931 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Manulife US REIT's current PB Ratio of 0.66 is 24.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Manulife US REIT and its competitors. For the REITs industry, the median PB Ratio is 0.87 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Manulife US REIT's current PB Ratio is 0.66, which is 30% below median its own 10-year median of 0.94. 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 PB Ratio of 0.66. The stock's GF Value™ is $0.12, compared to a current price of $0.13 — trading 6.2% above its estimated fair value. The current PB Ratio is 0.66, which is 30% below median its 10-year median of 0.94 and 24.1% below the REITs industry median of 0.87. 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 PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Manulife US REIT (MNULF), the current PB Ratio is 0.66 as of Jul. 07, 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 overvalued.
The current stock price of $0.13 is trading 6.2% above its estimated GF Value™ of $0.12.
Key valuation signals for MNULF:
PB Ratio: 0.66 (30% below median its 10-year median of 0.94)
GF Value™: $0.12 vs. price of $0.13 (6.2% above fair value)
Industry Position: 24.1% below the REITs median (#35 of 931)
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 is a pure-play U.S. office REIT in Asia. The company along with its subsidiaries invests, directly or indirectly, in a portfolio of income-producing office real estate in markets in the U.S., as well as real estate-related assets. The Group's investment properties comprise commercial office properties. Some of its properties include Figueroa and Michelson in California along with Plaza and Exchange in New Jersey. Geographically, the majority is derived from the United States.
29GF Score
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