In her Oct 2 report, Li notes that the freehold asset has redevelopment potential when the existing lease rolls off. The analyst favours the potential upside from the redevelopment potential and a net property income (NPI) yield of 4%, which offers downside protection. Noting topline contribution, Li increases her revenue and distribution per unit (DPU) forecasts on MINT by 0.2% to 0.5% for FY2025 to the end of FY2026.
Maybank Securities analyst Li Jialin has upgraded her call to “buy” from “hold” on Mapletree Industrial Trust (SGX:ME8U
) (MINT) with a higher target price of $2.60 from $2.15.
This follows MINT’s announcement on Sept 30 of the REIT’s proposed acquisition of a mixed-use industrial facility in Tokyo in Japan for JPY14.5 billion ($127.8 million).
