Analysts at UOB Kay Hian and CGS-CIMB maintain their “hold” calls for Mapletree Logistics Trust (MLT), citing unattractive yield versus other industrial REITs.
In an Oct 25 note, CGS-CIMB analysts Lock Mun Yee and Eing Kar Mei note that while they like MLT for its pan-Asian logistics asset focus, the FY2022F dividend yield of about 4.3% is on the lower end when compared to its peers.
The analysts have tweaked MLT’s FY2022F to FY2024F distribution per unit (DPU) estimates by 0.16% to 0.76%, aside from lifting its dividend discount model (DDM)-based target price to $2.11.
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