“The recent divestment of Mapletree Anson addresses investors’ concerns over its higher-than-average gearing,” write the analysts in their June 28 report, who note that MPACT's gearing will be reduced to a more comfortable level of 37.6% from 40.5% as at March 31.
DBS Group Research analysts Rachel Tan and Derek Tan have maintained their “buy” call on Mapletree Pan Asia Commercial Trust (SGX:N2IU
) (MPACT) with an unchanged target price of $1.75 following the REIT’s divestment of Mapletree Anson.
On May 30, MPACT announced that it planned to divest Mapletree Anson for $775 million, which is 1.3% above the property's latest book value.
