- Under new CEO, Mapletree Logistics Trust (SGX:M44U) is staying the course – continuing with portfolio rejuvenation, focusing on Asian logistics, taking a long view of China and the diversification it brings.
- - Read this at SGinvestors.io -
- We maintain our estimates, rating and Mapletree Logistics Trust target price. While pressure for Mapletree Logistics Trust's distribution will continue, a turn in regional FX may provide relief.
High occupancy, positive reversions
- - Read this at SGinvestors.io -
- Combined with higher borrowing costs and lower amount of divestment gains, distribution fell. Portfolio occupancy inched down to 95.7% from 96% in last quarter.
- Occupancy in China was stable at ~93%. Singapore and Vietnam was lower due to leasing downtime while Malaysia was lower due to lease expiries at two properties slated for redevelopment.
- Portfolio reversion was 2.6% (4.6% ex-China). China reversion will be in negative low teens range.
Focus on portfolio rejuvenation
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Krishna Guha Maybank Research | https://www.maybank-ke.com.sg/ 2024-07-26
Previous report by Maybank:
2024-04-30 Mapletree Logistics Trust - Declining Distributions; Rough Patch Continues.
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
