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Mapletree Industrial Trust kept at 'hold' despite higher fair value estimate from OCBC

Michelle Zhu
Michelle Zhu12/4/2017 02:56 PM GMT+08  • 2 min read
Mapletree Industrial Trust kept at 'hold' despite higher fair value estimate from OCBC
SINGAPORE (Dec 4): OCBC Investment Research is maintaining its “hold” call on Mapletree Industrial Trust (MIT) with a higher fair value estimate of $2.06 compared to $1.92 previously, after raising its FY19 distribution per unit (DPU) projection by 0.
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SINGAPORE (Dec 4): OCBC Investment Research is maintaining its “hold” call on Mapletree Industrial Trust (MIT) with a higher fair value estimate of $2.06 compared to $1.92 previously, after raising its FY19 distribution per unit (DPU) projection by 0.9%.

This is to account for the trust’s anticipated entry into the overseas data market via its proposed acquisition of a data centre portfolio in the US by the way of a joint venture (JV) with its sponsor, Mapletree Investments – which has led to the research house raising terminal growth estimates to 1.2% from 1% previously.

To recap, MIT in Oct entered a 40-60 JV, Mapletree Redwood Data Centre Trust, with its sponsor to acquire a portfolio of 14 data centres in the US for US$752.2 million ($1 billion).

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