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Analysts like MLT on better reversions and capital recycling efforts

Samantha Chiew
Samantha Chiew2/8/2022 12:20 PM GMT+08  • 4 min read
Analysts like MLT on better reversions and capital recycling efforts
Analysts are positive on MLT following a stellar 3Q.
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Analysts are positive on Mapletree Logistics Trust (MLT) following its latest 3QFY2022 ended December 2021 results announcement, which saw DPU for the period come in at 2.185 cents, some 5.8% higher than 2.065 cents last year.

Gross revenue was $166.9 million, a 19.3% y-o-y increase, which brought net property income (NPI) to 17.4% higher y-o-y at $146.4 million. This growth was thanks to higher revenue contribution from existing properties, contributions from accretive acquisitions completed in 9MFY2022 and FY2021, as well as lower rental rebates granted to eligible tenants impacted by Covid-19.

MLT achieved overall portfolio rental reversions of 2.5% in 3QFY2022, an improvement from 2.2% in 1QFY2022 and 2.4% in 2QFY2022. MLT’s portfolio occupancy stood at 97.8%, and has remained unchanged for three consecutive quarters.

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