“This was driven by organic growth from previous rental uplifts secured and contribution from its data centre acquisition in Osaka, Japan but partially offset by divestments, lower occupancy rates in the US compared to the same period a year ago and higher property operating expenses,” the team notes.
Analysts at OCBC Investment Research, DBS Group Research and CGS International have kept their respective “buy” and “add” calls on Mapletree Industrial Trust (SGX:ME8U
) (MINT) at an unchanged fair value of $2.71 and target prices of $2.60 and $2.61 respectively.
The research team at OCBC notes in its July 26 report that the REIT’s 1QFY2025 gross revenue and net property income (NPI), which came in 2.7% higher y-o-y at $175.3 million and 1.3% greater y-o-y at $132.5 million respectively, stood in-line with the research team’s expectations.
