- Mapletree Industrial Trust achieved positive rental revision of 8.8% in 2QFY24 for renewed leases across all property segments in Singapore. The acquisition of Osaka data centre was completed on 28 Sep 23 (only three days of contributions in 2QFY24) and will contribute more meaningfully in 3QFY24.
Mapletree Industrial Trust's 2QFY24 Results
- - Read this at SGinvestors.io -
Resilient financial performance.
- Gross revenue and NPI declined marginally by 0.8% and 1.4% y-o-y respectively in 2QFY24. Distribution declared by JV increased 23.4% y-o-y to S$8.5m.
- - Read this at SGinvestors.io -
Broad-based positive rental reversion.
- Mapletree Industrial Trust achieved positive rental revision of 8.8% for renewed leases across all property segments in Singapore in 2QFY24 (flatted factories: +9.9%, business park: +8.8%, stack-up/ramp-up buildings: +7.6% and hi-tech buildings: +4.7%).
- The average rental rate of the Singapore and North America portfolios increased 0.5% and 0.4% q-o-q respectively to S$2.19psf pm and US$2.42psf pm.
Portfolio occupancy was stable at 93.2%.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-10-30
Previous report by UOB:
2023-10-09 Mapletree Industrial Trust - Expansion In Japan Supported By Asset Cycling In Singapore.
Price targets by 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
