Mapletree Industrial Trust

ME8U.SI : Singapore Exchange

2.190

-0.45%

Share Price in SGD. As of 28 May 17:14:20 SGT

Mapletree Industrial Trust announced dividend per share (DPS) of S$0.03

25 Apr 2024 • Upcoming dividend

Chart

Key stats

  • 52-Week High
    SGD 2.530
  • 52-Week Low
    SGD 2.100
  • Market Cap
    SGD 6.2B
  • Avg Volume
    4.4M
  • P/E Ratio (TTM)
    21.90
  • Forward Dividend Yield
    5.92%

Share Price Performance

ME8U.SI
Market
1 Day -0.90% 0.09%
5 Day -0.90% 0.67%
1 Month 0.46% 1.13%
6 Month -3.95% 8.62%
YTD -12.40% 3.10%
1 Year -2.23% -1.30%
5 Year -2.34% 0.89%
Include dividend return

All

Market Analysis

Consensus Share Price Target

Price Target: $2.515

Sell
Underperform
Neutral
Outperform
Buy

Source: SGX as of 28 May 2024

Analyst Ratings

  • CGS-CIMB

    26 Jan 2024

    Add

    2.610

  • DBS Research

    26 Oct 2023

    Buy

    2.600

  • Maybank Research

    28 Jan 2024

    Hold

    2.300

    (prev 2.150)

  • OCBC Investment

    26 Jan 2024

    Buy

    2.690

    (prev 2.590)

  • UOB Kay Hian

    03 Jan 2024

    Buy

    2.980

    (prev 2.690)

Analyst Reports

Beansprout Insights

Beansprout's Checklist

  • Fundamental

    Occupancy Rate of 92.60% is lower than sector average of 95.83%

  • Financial

    Gearing Ratio of 38.60% is higher than sector average of 37.73%

  • Valuation

    Dividend Yield of 5.92% is lower than sector average of 6.18%

Revenue Breakdown by Asset

Revenue Breakdown by Geography

Valuation

Price to book (P/B) ratio

Current P/B
1.2
Historical Average P/B
1.1

Mapletree Industrial Trust's current P/B ratio of 1.2x is higher than its historical average P/B ratio of 1.1x.

Earnings

Earnings Highlights

FY2023/2024 Results Summary

  • Revenue: SGD 697.33M

    Increased 2% Year-on-Year

    Driven by revenue contributions from the redevelopment project, Mapletree Hi-Tech Park @ Kallang Way, the data centre in Osaka, Japan acquired on 28 September 2023 as well as new leases and renewals across various property clusters

  • Net Property Income (NPI): SGD 521.04M

    Increased 1% Year-on-Year

    Better performance was mainly driven by revenue contributions from new projects and leases

  • Rental Reversion: 6.6%

    Positive rental revisions for renewal leases were achieved across all property segments in Singapore in the fourth quarter

  • Distribution Per Unit (DPU): SGD 0.13

    Decreased 1% Year-on-Year

    Higher net property income was offset by higher borrowing costs from new borrowings and higher interest rates

Earnings per share (EPS)

The latest earnings per share is $0.10, which is lower than the earnings per share of $0.16 in 2021.

Financials

Financial Statements

25 Jan 2024

Third Quarter Results

For period ending 31 Dec 2023

25 Oct 2023

Second Quarter and/ or Half Yearly Results

For period ending 30 Sep 2023

26 Jul 2023

First Quarter Results

For period ending 30 Jun 2023

Annual Reports

20 Jun 2023

Annual Report

For period ending 31 Mar 2023

News

Profile

Company Description

Mapletree Industrial Trust ("MIT") was constituted as a private trust on 29 January 2008. On 1 July 2008, MIT acquired its portfolio of 64 properties from JTC Corporation (“JTC”), comprising 27 property clusters, being the IPO Portfolio excluding the Mapletree Singapore Industrial Trust ("MSIT") Portfolio. Mapletree Industrial Trust is a Singapore real estate investment trust (“REIT”) established with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of income-producing real estate used primarily for industrial purposes, whether wholly or partially, in Singapore, as well as real estate-related assets. Mapletree Industrial Trust Management Ltd is the manager of Mapletree Industrial Trust.

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