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Analysts positive on Mapletree Logistics Trust despite occupancy level dip

Chloe Lim
Chloe Lim5/4/2022 5:0 PM GMT+08  • 4 min read
Analysts positive on Mapletree Logistics Trust despite occupancy level dip
MLT reported a 16.5% and 14.9% y-o-y rise in gross revenue and NPI to $182.9 million and $157.1 million respectively for 4QFY2022
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Analysts are largely positive on Mapletree Logistics Trust (MLT) amid lower occupancy levels in South Korea, Singapore and China for the 4QFY2022 ended March. This is in light of a stable past quarter observed.

Maybank Securities analyst Chua Su Tye has kept a “buy” rating on MLT with a lowered target price of $2.25 from $2.35.

This is in spite of portfolio occupancy falling to 96.7% in 4QFY2022 from 97.8% in 3QFY2022, as higher occupancies in Japan and India were offset by occupancy dips in South Korea, China and Singapore. Occupancy in Singapore would have risen to 99% from 98.1% however, with the exclusion of 51 Benoi Road that was decanted for redevelopment.

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