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Mapletree's stable of REITs attractive across the board

Benjamin Cher
Benjamin Cher10/27/2016 12:11 PM GMT+08  • 2 min read
Mapletree's stable of REITs attractive across the board
SINGAPORE (Oct 27): Mapletree REITs – Mapletree Logistics Trust (MLT), Mapletree Industrial Trust (MINT), Mapletree Commercial Trust (MCT) – remains attractive to analysts after a steady showing of results across the board.
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SINGAPORE (Oct 27): Mapletree REITs – Mapletree Logistics Trust (MLT), Mapletree Industrial Trust (MINT), Mapletree Commercial Trust (MCT) – remains attractive to analysts after a steady showing of results across the board.

DBS has issued a “buy” call on both MLT and MINT with target prices of $1.15 and $1.90 respectively, while Religare Institutional Research has issued a “buy” call on MCT with target price of $1.70.

MLT’s 2QFY17 results are in line with expectations notes lead analyst Derek Tan. Net property income rose 5.3% to $76.8 million, driven by acquisitions. The issuing of $250 million in perpetual securities in May also allowed the REIT to lock in long-term funding. Close to $160 million has been deployed for deals, and Tan notes more acquisitions in the pipeline. Opportunities should arise from the REIT’s sponsor as well as third parties in Australia, Korea and China.

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