- Mapletree Logistics Trust (SGX:M44U)’s 3QFY24 gross revenue and net property income (NPI) rose 2.1% and 1.5% y-o-y to S$184.0m and S$159.5m, respectively. This was driven by higher contribution from existing properties in Singapore and inorganic growth, but partially offset by weakness in China and FX headwinds.
3QFY24 results met our expectations.
- - Read this at SGinvestors.io -
- Borrowing costs continued to increase (+5.5% y-o-y), but overall DPU rose 1.2% y-o-y to S$0.02253 given the boost from the distribution of divestment gains amounting to S$12.4m (~0.248 Singapore cents per unit). See Mapletree Logistics Trust's distribution dates.
- - Read this at SGinvestors.io -
Portfolio occupancy declined for 2nd consecutive quarter
- Mapletree Logistics Trust’s overall portfolio occupancy saw a dip of 1.0 percentage point (ppt) q-o-q to 95.9%, its second consecutive quarter of sequential decline. There were more countries/regions which recorded a fall in occupancy rates, namely
- 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/ 2024-01-25
Read also OCBC's most recent report:
2024-10-23 Mapletree Logistics Trust - Weakness In DPU Not Unexpected.Previous report by OCBC:
2024-07-25 Mapletree Logistics Trust - Recalibrating Our DPU Expectations.Price targets by 2 other brokers at Mapletree Logistics Trust Target Prices.
Listing of research reports at Mapletree Logistics Trust Analyst Reports.
Relevant links:
Mapletree Logistics Trust Share Price History,
Mapletree Logistics Trust Announcements,
Mapletree Logistics Trust Dividends & Corporate Actions,
Mapletree Logistics Trust News Articles
