Analysts from CGS-CIMB Research and DBS Group Research are upbeat on Mapletree North Asia Commercial Trust (MNACT) after the REIT posted distribution per unit (DPU) of 6.175 cents for the FY2020/2021 ended March, 13.3% lower than DPU of 7.124 cents from the year before.

CGS-CIMB analysts Lock Mun Yee and Eing Kar Mei have reiterated their “add” call with the same target price of $1.15 as MNACT’s performance for the 2HFY2020/2021 and FY2020/2021 beat their estimates at 54.7% and 102.3% of their FY2020/2021 forecasts.

The positive recommendation also comes as the analysts expect a potential FY2022 dividend yield of 6.5%.

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