Analysts are positive on Mapletree Industrial Trust (MINT) as the REIT posted 2.5% higher distribution per unit (DPU) of 12.55 cents for the FY2020/FY2021 ended March.

CGS-CIMB Research analysts Lock Mun Yee and Eing Kar Mei have upgraded their recommendation to “add” from “hold” with a slightly higher target price of $3.05 from $3.03, as MINT’s full-year DPU beat their estimates at 102.7% of its FY2021 forecast.

They have also upped their DPU estimates for the FY2022 – FY2023 by 0.76%-0.85% with the contributions from MINT’s newly-acquired data centre and office in Virginia, US.

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