SINGAPORE (Dec 16): CIMB is maintaining its “hold” call on Mapletree Logistics Trust (MLT) at a higher target price of $1.02 from 99 cents previously.
This comes on the back of new accretive acquisitions and redevelopment projects to counterbalance organic portfolio weakness.
The Asia-focused logistics REIT recently announced it was acquiring four logistics properties in Victoria, Australia – adding 103,517 sqm of gross floor area (GFA) to almost double its existing Australia GFA.
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