- Mapletree Industrial Trust reported DPU of 3.27 cents for 1QFY26, -2.7% y-o-y and -4.7% q-o-q, in line with estimates.
- Stripping off the impact of divestments and one-offs, DPU would have been +2.8% y-o-y and -1.5% q-o-q.
Stable quarter; pulled up by Japan and Singapore operations.
- - Read this at SGinvestors.io -
- Distributable income dipped ~4.1% y-o-y to S$93.3mil due to lower JV income as expiry of interest rate swaps (-2.9% y-o-y) impacted distributions.
- - Read this at SGinvestors.io -
Operational metrics remained stable, highlighting the resilience across the portfolio.
- Mapletree Industrial Trust’s occupancy rates have generally stayed steady at ~91.4% (-0.2% ppt q-o-q) while rental reversions were between 5-9.5% across segments, with a portfolio weighted reversion rate of 8.2%. The REIT also achieved a retention rate of 84.5%.
Outlook
Revising estimates to account for recent divestments.
- Read more at SGinvestors.io.
