Mapletree Industrial Trust - DBS Research 2025-05-02: Stable Return, Rebalancing For Resilience.

• Mapletree Industrial Trust is one of Singapore's largest industrial landlords with a portfolio of well-located flatted factories, high-specification properties catering to wide ranging industries from IT, media, tech, bio-medical and varied industrial sectors. This diversification has broadened Mapletree Industrial Trust’s earnings base and enhanced its income resilience.

Resilient FY25 DPU of 13.57 cents (+1.0% y-o-y), in line with estimates.

• - Read this at SGinvestors.io -
• - Read this at SGinvestors.io -
• For FY25, gross revenues and net property income were marginally higher at ~2.1% and 2.0% y-o-y at S$ 711.8mil and S$531.5mil respectively. The higher performance was driven by higher rentals achieved, new income from the lease-up of Mapletree Hi-Tech Park @ Kallang Way and the contribution from Osaka DC / Mixed-use facility in Tokyo, partly offset by selected non-renewal of leases, mainly in the USA.

Our view

Resilient financial metrics.

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Previous report by DBS:
2025-03-14 Mapletree Industrial Trust - A Resilient Dividend Anchor and Value Play With Mispriced Risks.

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 Dividend Payout Dates & Corporate Actions,
Mapletree Industrial Trust News