Under MLT’s new CEO, the REIT is “staying the course”, as it continues with its portfolio rejuvenation. The REIT is focusing on Asian logistics properties and is taking a long view of China, notes Guha.
Analysts are keeping their “buy” calls on Mapletree Logistics Trust (SGX:M44U
) (MLT) after the REIT reported an 8.9% y-o-y drop in its distribution per unit (DPU) of 2.068 cents for the 1QFY2025 ended June. The REIT’s distributable income fell due to higher borrowing costs and lower divestment gains. The DPU also dipped from an enlarged unit base.
Maybank Securities analyst Krishna Guha has kept his “buy” call on MLT with an unchanged target price of $1.32 as he sees a “tactical opportunity” from a turn in regional foreign exchange (forex).
