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UOB Kay Hian and CGS-CIMB maintain 'hold' calls on MLT, citing unattractive yield

Khairani Afifi Noordin
Khairani Afifi Noordin10/26/2021 02:13 PM GMT+08  • 4 min read
UOB Kay Hian and CGS-CIMB maintain 'hold' calls on MLT, citing unattractive yield
The FY22F dividend yield of about 4.3% is on the lower end when compared to other industrial REITs.
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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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