New leases within the high-tech segment of Mapletree Industrial Trust (MINT)’s Singapore portfolio have contributed to an uptick in the REIT’s performance, says CGS-CIMB Research analysts.

Lock Mun Yee and Eing Kar Mei are maintaining their “hold” call on the REIT, with an unchanged target price of $3.03 and a 5.4% upside.

CGS-CIMB also tweaked up MINT’s distribution per unit (DPU) by 0.041% for FY2021F, 0.182% for FY2022F and 0.152% for FY2023F in the Jan 29 note.

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