In his July 26 note, the analyst notes that the REIT’s reported distribution per unit (DPU) for the quarter came in at 2.068 cents, down 8.9% y-o-y, which is below expectations.
UOB Kay Hian analyst Johnathan Koh has downgraded his call on Mapletree Logistics Trust (SGX:M44U
) (MLT) to “hold” following the release of the REIT’s 1QFY2025 results ended June.
Koh cites two key reasons for his downgrade: the REIT’s plans to expand in growth markets is curtailed by its elevated aggregate leverage of 39.6%, and the outlook for China will remain challenging and is expected to persist over the next few quarters.
