Mapletree Industrial Trust - UOB Kay Hian 2024-11-01: Generating Positive Reversions & Stable Occupancies In 2QFY25

• Mapletree Industrial Trust reported DPU of 3.37 cents for 2QFY25 (+1.5% y-o-y), which is in line with our expectations.

Broad-based growth across various asset types.

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• Borrowing costs increased by 3% y-o-y. Distribution from JVs declined 15.5% due to higher borrowing costs as hedges are replaced at higher interest rates.

Commenced new lease with Vanderbilt University Medical Center.

• Occupancy for its Singapore portfolio was stable at 93.7% (hi-tech: 89.3%, business park: 80.6%, flatted factories: 97.7% and stack-up/ramp-up buildings: 98.2%). Committed occupancy at Mapletree Hi-Tech Park improved 1.0ppt q-o-q to 54.5% in 2QFY25.
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Achieved healthy positive reversion in Singapore.

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Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-02-12 Mapletree Industrial Trust - Weathering The Bumpy Ride.

Previous report by UOB:
2025-01-24 Mapletree Industrial Trust - Average Rents Inching Higher In Both Singapore & The US.

Price targets by 2 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 Dividend Payout Dates & Corporate Actions,
Mapletree Industrial Trust News