- Mapletree Industrial Trust’s 2QFY24 (Jul to Sep 2023) gross revenue and net property income (NPI) declined 0.8% and 1.4% y-o-y to S$174.1m and S$128.6m, respectively.
2QFY24 results met our expectations
- - Read this at SGinvestors.io -
- For 1HFY24, Mapletree Industrial Trust’s NPI inched down 0.3% y-o-y to S$259.4m, while DPU of S$0.0671 represented a dip of 2.0% y-o-y and accounted for 50.6% of our initial forecast.
Portfolio weighted average rental reversions of 8.8% for renewal leases in Singapore
- - Read this at SGinvestors.io -
- The average rental rate for its Singapore and North American portfolios rose 0.5% and 0.4% q-o-q to S$2.19 per square foot per month (psf pm) and US$2.42 psf pm, respectively.
Occupancy supported by addition of data centre acquisition in Japan
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2023-10-27
Previous report by OCBC:
2023-07-28 Mapletree Industrial Trust - Solid Rental Reversions But Weakness In Occupancy.
Price targets by 3 other brokers at Mapletree Industrial Trust Target Prices.
Listing of research reports at Mapletree Industrial Trust Analyst Reports.
Relevant links:
Mapletree Industrial Trust Share Price History,
Mapletree Industrial Trust Announcements,
Mapletree Industrial Trust Dividends & Corporate Actions,
Mapletree Industrial Trust News Articles
