Mapletree Logistics Trust (MLT)

Analysts like Mapletree Log on stable CWT situation, positive 4Q results

SINGAPORE (Apr 30): Analysts like Mapletree Logistics Trust (MLT) given its positive 4Q19 results, stable CWT situation and capital recycling strategy.

See: Analyst sentiments on Mapletree Logistics Trust turn lukewarm due to valuations

The manager of MLT on Apr 26 announced that its 4Q19 DPU of 2.024 cents, 4.5% y-o-y , as the amount distributable to unitholders increased by 23.8% y-o-y to $73.3 million.

MLT posts 4.5% rise in 4Q DPU to 2.024 cents on higher revenue

SINGAPORE (Apr 26): The manager of Mapletree Logistics Trust (MLT) announced a 4.5% increase in 4Q19 DPU to 2.024 cents, compared to 1.937 cents in 4Q18.

Amount distributable to unitholders was 23.8% higher at $73.3 million from $59.2 million last year.

As at end-1Q19, there were about 3.6 million units issued, 18.4% higher than about 3.1 million units issued in the previous year.

On a final year basis, FY19 DPU was 7.941 cents, 4.2% higher than 7.618 cents in FY18.

MapletreeLog and Cache kept on 'hold' by OCBC in wake of CWT International default

SINGAPORE (Apr 18): OCBC is downgrading Mapletree Logistics Trust to ‘hold’ given there could be uncertainties over its longer-term outlook in the wake of the news that CWT International had defaulted on its loans.

Meanwhile, OCBC is maintaining Cache Logistics Trust at ‘hold’ saying although the REIT should be “okay for now”, the REIT could see some downsizing in its aftermath.

DBS says exposure by REITs to CWT default more manageable than thought

SINGAPORE (Apr 17): DBS Group Research is not overly worried about the local industrial REITs – AIM APAC REIT (AA REIT), Mapletree Logistics Trust (MLT) and Cache Logistics Trust (CacheLog Trust) – that have exposure to Hong Kong-listed CWT International (CWTI).

To recap, CWTI, controlled by Chinese conglomerate HNA Group which is facing liquidity challenges, on Tuesday announced that it has failed to pay accrued interests and fees to lenders totalling HK$63 million ($10.9 million) which have become due and payable under a HK$1.4 billion facility.

HK-listed CWT International defaults on loan interests and fees; 3 CWT-linked REITs could be hit

SINGAPORE (Apr 16): CWT International (CWTI), controlled by Chinese conglomerate HNA Group which is facing liquidity challenges, on Tuesday announced it has failed to pay accrued interests and fees to lenders totalling HK$63 million ($10.9 million) which have become due and payable under a HK$1.4 billion facility.

See: HNA to face $3.1 bil liquidity crunch this quarter

MapletreeLog Trust divests 5 Japan properties for $213 mil

SINGAPORE (Apr 10): Mapletree Logistics Trust (MLT) has divested five properties in Japan to Godo Kaisha T&C for a total sale consideration of JPY 12.5 billion ($213.3 million) in cash.

The sale consideration is 21% above the latest appraised value of JPY 14.4 billion for all five properties as at Mar 31, 2019. The consideration is also 13% above the original purchase cost (including capital expenditure and other related costs) of JPY 15.5 billion.

Details of the properties

OCBC raises confidence in Mapletree Logistics Trust on strong YTD performance, bright prospects

SINGAPORE (Mar 7): OCBC Investment Research is maintaining “buy” on Mapletree Logistics Trust (MLT) while raising its fair value estimate to $1.50 from $1.40 to assume lower cost of equity (COE).

This comes as the research house rolls forward its valuations while ascribing a COE of 7.5% in light of a more conducive interest rate environment, offset in part by a lower terminal growth rate assumption of 2%.

S-REITs poised to ride on wings of dovish Fed

SINGAPORE (Feb 11): DBS Group Research is keeping its “overweight” rating on Singapore REITs following more dovish comments from the US Federal Reserve.

In a statement on Jan 30, the US central bank said it “will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate”.

Notably, the Fed also discarded its promise of “further gradual increases” in interest rates.

Market observers say this could point to an end to its tightening cycle amid signs of slowing global growth.

Mapletree Logistics Trust's portfolio showing signs of resilience

SINGAPORE (Jan 25): UOB Kay Hian is reiterating its “hold” recommendation on Mapletree Logistics Trust (MLT) with a target price of $1.39.

Similarly, Maybank Kim Eng has a “hold” call on CCT, while OCBC Investment Research has a “buy” call.

See: MapletreeLog sees strong 3Q19 results as rental reversions gather pace

MapletreeLog sees strong 3Q19 results as rental reversions gather pace

SINGAPORE (Jan 23): Mapletree Logistics Trust (MLT) reported 3Q19 gross revenue and Net Property Income (NPI) jumped 23% and 25.9% y-o-y to $120.8 million and $104.5 million, respectively.

This was driven by organic growth, contribution from the completed redevelopment of Mapletree Ouluo Logistics Park Phase 1 and acquisitions.

DPU grew at a smaller 5% y-o-y to 2.002 cents as a result of higher borrowing costs and a larger unit base.

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