Mapletree Logistics Trust

M44U.SI : Singapore Exchange

1.300

-1.52%

Share Price in SGD. As of 21 Jun 17:11:38 SGT

Mapletree Logistics Trust announced dividend per share (DPS) of S$0.02

29 Apr 2024 • Upcoming dividend

All

Chart

Key stats

  • 52-Week High
    SGD 1.750
  • 52-Week Low
    SGD 1.290
  • Market Cap
    SGD 6.5B
  • Avg Volume
    18M
  • P/E Ratio (TTM)
    11.82
  • Forward Dividend Yield
    6.9%

Share Price Performance

M44U.SI
Market
1 Day -2.26% 0.01%
5 Day -1.52% 0.26%
1 Month -5.80% -0.50%
6 Month -23.98% 2.85%
YTD -23.98% 2.36%
1 Year -22.62% 2.25%
5 Year -17.07% 6.42%
Include dividend return

Beansprout Analysis

Beansprout's Checklist

  • Fundamental

    Occupancy Rate of 95.90% is higher than sector average of 95.83%

  • Financial

    Gearing Ratio of 38.80% is higher than sector average of 37.73%

  • Valuation

    Dividend Yield of 6.92% is higher than sector average of 6.34%

Revenue Breakdown by Asset

Revenue Breakdown by Geography

Market Analysis

Consensus Share Price Target

Price Target: $1.639

Sell
Underperform
Neutral
Outperform
Buy

Source: SGX as of 23 Jun 2024

Analyst Ratings

  • CGS-CIMB

    25 Jan 2024

    Add

    1.880

  • DBS Research

    04 Jan 2024

    Buy

    1.880

  • Maybank Research

    25 Jan 2024

    Hold

    (prev Buy)

    1.700

    (prev 1.600)

  • OCBC Investment

    25 Jan 2024

    Buy

    1.800

    (prev 1.720)

  • UOB Kay Hian

    26 Jan 2024

    Buy

    1.980

    (prev 1.940)

Analyst Reports

Valuation

Price to book (P/B) ratio

Current P/B
0.9
Historical Average P/B
1.1

Mapletree Logistics Trust's current P/B ratio of 0.9x is lower than its historical average P/B ratio of 1.1x.

Earnings

Earnings Highlights

4Q FY23/24 Results Summary

  • Revenue: SGD 180.98M

    Increased 1% Year-on-Year

    Growth was driven by higher contribution from existing properties in Singapore and Hong Kong, as well as contributions from acquisitions in Japan, South Korea and Australia completed during the year, partly offset by weaker performance in China and the absence of revenue from divested properties.

  • Net Property Income (NPI): SGD 155.31M

    Increased 1% Year-on-Year

    NPI for 4Q FY23/24 increased by 0.6% year-on-year to S$155.3 million.

  • Net Profit: SGD 58M

    Decreased 80% Year-on-Year

    Net profit declined due to higher other trust expenses, borrowing costs and net fair value loss on investment properties.

  • Portfolio Occupancy: 96%

    Portfolio occupancy was maintained at a healthy level of 96.0%.

  • Rental Reversion: 2.9%

    The weighted average rental reversion for leases renewed during 4Q FY23/24 excluding China was 7.1%; including China it was 2.9%.

  • Distribution Per Unit (DPU): SGD 0.02

    Decreased 3% Year-on-Year

    DPU decreased 2.5% to 2.211 cents on an enlarged unit base.

  • Leverage/Gearing: 39%

Earnings per share (EPS)

The latest earnings per share is $0.06, which is lower than the earnings per share of $0.11 in 2022.

Financials

Financial Statements

24 Jan 2024

Third Quarter Results

For period ending 31 Dec 2023

24 Oct 2023

Second Quarter and/ or Half Yearly Results

For period ending 30 Sep 2023

25 Jul 2023

First Quarter Results

For period ending 30 Jun 2023

Annual Reports

28 Jun 2023

Annual Report

For period ending 31 Mar 2023

News

Profile

Company Description

Mapletree Logistics Trust ("MLT") is the first Asia-focused logistics real estate investment trust listed on the SGX-ST mainboard. MLT's principal strategy is to invest in a diversified portfolio of income-producing logistics real estate and real estate-related assets. As at 31 March 2024, it has a portfolio of 187 properties in Singapore, Australia, China, Hong Kong SAR, India, Japan, Malaysia, South Korea and Vietnam with assets under management of S$13.2 billion. MLT is managed by Mapletree Logistics Trust Management Ltd., a wholly-owned subsidiary of Mapletree Investments Pte Ltd. 

FAQ

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