Mapletree Logistics Trust - A Resilient Performance
MAPLETREE LOGISTICS TRUST (SGX:M44U)
- Mapletree Logistics Trust (SGX:M44U)'s 4QFY22 (Jan 2022 to Mar 2022) and FY22 (Apr 2021 to Mar 2022) DPU of S$0.02268 and S$0.08787 were slightly ahead of expectations, at 26.7% and 101.8% of our FY22 forecast
- Mapletree Logistics Trust’s portfolio occupancy dipped slightly q-o-q to 96.7% as at end-4Q, dragged down by lower occupancies in Singapore, South Korea and China. There were positive rental reversions across its geographical footprint, with the most uplift from Vietnam, China, India and South Korea; overall rental reversion was +2.9%.
- Following its results, we tweak up our FY23-24F DPU forecast for Mapletree Logistics Trust by 1.42% and maintain our DDM-based target price for Mapletree Logistics Trust at S$2.10. Our current forecasts have not baked in any pre-emptive new acquisitions or redevelopment/asset enhancement opportunities as guided by management.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
LOCK Mun Yee CGS-CIMB Research | https://www.cgs-cimb.com 2022-04-28
SGX Stock
Analyst Report
2.100
SAME
2.100
Read also CGS-CIMB's most recent report:
2022-07-21 Mapletree Logistics Trust - Staying Resilient Despite Uncertainties
Target prices by 3 other brokers at Mapletree Logistics Trust Target Prices.
Listing of broker reports at Mapletree Logistics Trust Analyst Report.
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