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Seamonkeyking ( Date: 02-Jun-2022 10:25) Posted:
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From Phillip Securities..
Mapletree Logistics Trust (MLT SP) - Trading BUY
Price has rebounded from its previous low support zone. It moved and closed above the middle Bollinger band, which is the 20-day moving average&hellip
Mapletree Logistics Trust (MLT SP) - Trading BUY
Price has rebounded from its previous low support zone. It moved and closed above the middle Bollinger band, which is the 20-day moving average&hellip
https://sg.yahoo.com/finance/news/3-reits-set-grow-dpu-100000184.html
Mapletree Logistics Trust, or MLT, is a logistics REIT that owns a portfolio of 183 properties in eight countries worth S$13.1 billion as of 31 March 2022.
MLT reported a sparkling set of earnings for its fiscal 2022 (FY2022) ended 31 March 2022.
Gross revenue jumped 20.9% year on year to S$678.6 million, contributed by higher revenue from existing properties as well as accretive acquisitions during the fiscal year.
NPI rose 18.6% year on year to S$592.1 million while DPU increased by 5.5% year on year to S$0.8787.
There are two good reasons to be confident that MLT&rsquo s DPU can continue to increase.
First off, its aggregate leverage stood at 36.8% as of 31 March 2022 along with a low cost of debt of just 2.2%, providing the REIT with sufficient debt headroom to tap on debt for acquisitions.
Secondly, MLT has a track record of yield-accretive acquisitions in a space that still sees healthy demand due to the boom in e-commerce.
The REIT announced a total of eight acquisitions for FY2022, of which six were completed during the fiscal year and the remaining two are set to close by April and September this year.
Based on this impressive track record, unitholders can look forward to higher DPU in the coming quarters.
3 REITs Set to Grow Their DPU in 2022
Royston Yang
Tue, 31 May 2022, 6:00 pm
Mapletree Logistics Trust (SGX: M44U)
Mapletree Logistics Trust, or MLT, is a logistics REIT that owns a portfolio of 183 properties in eight countries worth S$13.1 billion as of 31 March 2022.
MLT reported a sparkling set of earnings for its fiscal 2022 (FY2022) ended 31 March 2022.
Gross revenue jumped 20.9% year on year to S$678.6 million, contributed by higher revenue from existing properties as well as accretive acquisitions during the fiscal year.
NPI rose 18.6% year on year to S$592.1 million while DPU increased by 5.5% year on year to S$0.8787.
There are two good reasons to be confident that MLT&rsquo s DPU can continue to increase.
First off, its aggregate leverage stood at 36.8% as of 31 March 2022 along with a low cost of debt of just 2.2%, providing the REIT with sufficient debt headroom to tap on debt for acquisitions.
Secondly, MLT has a track record of yield-accretive acquisitions in a space that still sees healthy demand due to the boom in e-commerce.
The REIT announced a total of eight acquisitions for FY2022, of which six were completed during the fiscal year and the remaining two are set to close by April and September this year.
Based on this impressive track record, unitholders can look forward to higher DPU in the coming quarters.
MLT is a good REIT, don' t know why still got dumb dumb go and dump it. Managed to get some at 1.6. Hopefully when the dumb dumb sells finish, MLT will rise to the sky.
From Royston Yang' s article " 4 Singapore Stocks Signalling Higher Dividends for 2022" dated 24 May 2022
Mapletree Logistics Trust, or MLT, is a logistics-focused REIT with a portfolio of 183 properties spread across eight countries with an AUM of S$13.1 billion as of 31 March 2022.
The REIT announced a strong set of earnings for FY2022, with gross revenue rising 20.9% year on year to S$678.5 million.
NPI increased by 18.6% year on year to S$592.1 million while DPU rose 5.5% year on year to S$0.08787.
Units of MLT provide a trailing distribution yield of 5.5%.
The REIT&rsquo s growth was driven mainly by higher rental revenue from existing properties and acquisitions in both FY2021 and FY2022.
With aggregate leverage at 36.8% and a history of accretive acquisitions, MLT has sufficient debt headroom to acquire more properties that can continue to boost its DPU in FY2023. Remarks : Sharing. Pls DYODD before investing / trading
Another round of fund-raising coming soon. Be careful.
Seamonkeyking ( Date: 24-May-2022 11:36) Posted:
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Mapletree Logistics Trust - Switching emphasis to redevelopment projects.
(MLT SP/BUY/S$1.61/Target: S$2.23)
MLT has embarked on the redevelopment of 51 Benoi Road into a six-storey rampup logistics property with GFA of 865,000sf. It plans to amalgamate and redevelop two newly-acquired parcels of leasehold industrial properties and its existing Subang 3 and 4 properties at Subang Jaya, Selangor into a six-storey ramp-up logistics megahub with GFA of 1.4m sf. Unit price has corrected 25% from its recent peak and FY23 distribution yield has improved to 5.7%. Maintain BUY. Target price: S$2.23&hellip
(MLT SP/BUY/S$1.61/Target: S$2.23)
MLT has embarked on the redevelopment of 51 Benoi Road into a six-storey rampup logistics property with GFA of 865,000sf. It plans to amalgamate and redevelop two newly-acquired parcels of leasehold industrial properties and its existing Subang 3 and 4 properties at Subang Jaya, Selangor into a six-storey ramp-up logistics megahub with GFA of 1.4m sf. Unit price has corrected 25% from its recent peak and FY23 distribution yield has improved to 5.7%. Maintain BUY. Target price: S$2.23&hellip
Thank you.
Yes indeed. Looks like good to start accumulating
Yes indeed. Looks like good to start accumulating
paul1688 ( Date: 09-May-2022 16:18) Posted:
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Covering period of 20 Jan to end Mar, dividend is 1.82 cents. Ex Div today. Payment on 21 Jun.
Humble opinion. Collect this one and just keep.
Disclaimer : Vested. Pls DYODD.
Humble opinion. Collect this one and just keep.
Disclaimer : Vested. Pls DYODD.
MichaelSchenker ( Date: 09-May-2022 13:24) Posted:
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Hi! Any quick answer what is the total dividend which xd today?
Thanks
Thanks
I guess is those STI ETFs or passive funds selling, cause Mapletree Log is inside STI index.
How come CD people still selling?
Only for invest
4.9% yield with current share price. This is a keeper! If the dpu continue to increase, the unit price will follow.
For Immediate Release
Mapletree Logistics Trust&rsquo s FY21/22 DPU Rises 5.5% Year-on-Year to 8.787 cents Highlights:
4Q FY21/22 DPU increased 5.0% year-on-year to 2.268 cents
Performance underpinned by stable operations and accretive acquisitions
Healthy portfolio metrics &ndash 96.7% occupancy and 2.9% positive rental reversions
Net asset value per unit grew 11.3% year-on-year to S$1.48....
https://links.sgx.com/1.0.0/corporate-announcements/P65FB798UZRPVZR1/714597_20220428-MLT_PR_4Q%20FY2122_final.pdf
Mapletree Logistics Trust&rsquo s FY21/22 DPU Rises 5.5% Year-on-Year to 8.787 cents Highlights:
4Q FY21/22 DPU increased 5.0% year-on-year to 2.268 cents
Performance underpinned by stable operations and accretive acquisitions
Healthy portfolio metrics &ndash 96.7% occupancy and 2.9% positive rental reversions
Net asset value per unit grew 11.3% year-on-year to S$1.48....
https://links.sgx.com/1.0.0/corporate-announcements/P65FB798UZRPVZR1/714597_20220428-MLT_PR_4Q%20FY2122_final.pdf
Mapletree Logistics Trust to acquire 2 prime land parcels in Malaysia for RM65.6m
MAPLETREE Logistics Trust Mapletree Log Tr: M44U +1.16% (MLT) on Tuesday (Feb 15) announced that it will acquire 2 parcels of leasehold industrial properties in Subang Jaya in the Malaysian state of Selangor for a total price of RM65.6 million (S$21.0 million).
Sitting on total land area of 257,000 square feet (sq ft), the property is located next to MLT' s existing Subang 3 and 4 properties, and a 20-minute drive from MLT' s other assets - Mapletree Shah Alam Logistics Park and Mapletree Logistics Hub - Shah Alam.
Ng Kiat, chief executive of MLT' s manager, said this acquisition offers a " rare redevelopment opportunity" for the trust to amalgamate the property with its existing adjacent properties - Subang 3 and 4. " This is in line with our strategy to optimise MLT' s portfolio and future-proof our assets through asset rejuvenation," she said.
If successfully amalgamated, the combined land parcel will come in at 492,000 sq ft, making it suitable for a redevelopment project that can yield a potential gross floor area of about 1.4 million sq ft, said MLT.
With the redevelopment, the plot ratio of MLT' s Subang 3 and 4 properties will increase by 5 times, and the gross floor area will grow from 139,000 sq ft to 700,000 sq ft after the redevelopment.
MLT said the proposed redevelopment, with an estimated total investment cost of RM500 million, is poised to be the first mega modern logistics facility in Subang Jaya.
The acquisition of the property will be fully funded by debt and is expected to be completed by September, subject to regulatory approvals.
Transaction-related costs are estimated to come in at a maximum of RM4.0 million. These include the stamp duty, professional advisory fees and the acquisition fee payable to MLT' s manager.
Upon completion, MLT' s aggregate leverage ratio is estimated to be around 39.2 per cent on a pro forma basis.
The property is not expected to generate any income for the initial years before the completion of redevelopment, which is estimated to be by 2027.
The property was valued at RM67.9 million by First Pacific Valuers Property Consultants in Malaysia on Jan 24 based on the residual method.
MLT said Subang Jaya is a strategic and prime location for domestic distribution due to its proximity to the Kuala Lumpur city centre and the densely populated areas of Subang, Petaling Jaya, Damansara and Puchong.
Its strategic location makes it suitable as an alternative distribution centre location as well as last-mile delivery centre for e-commerce operators, added the trust.
MLT unitholders vote in favour of plans to acquire assets in China, Vietnam
UNITHOLDERS of Mapletree Logistics Trust (MLT) have voted in favour of its plan to acquire 13 logistics assets in China and 3 properties in Vietnam as well as the proposed issue of 106 million new units in MLT as partial consideration for the acquisitions in China.
MLT' s manager released the minutes of an extraordinary general meeting (EGM) held on Jan 13 in a bourse filing on Friday (Feb 11), which indicated that 99.7 per cent of unitholders voted in favour of the proposed acquisitions, while 0.3 per cent voted against it.
A total of 99.7 per cent of unitholders also voted in favour of the proposed issue of 106 million new units to Mulberry, a subsidiary of MLT' s sponsor Mapletree Investments (MIPL), for the acquisitions in China. The consideration units would be issued at S$1.88.
Of the unitholders, 92.9 per cent voted in favour of a whitewash resolution for unitholders to waive their rights to receive a mandatory offer from MLT' s sponsor MIPL and its concert parties for all remaining issued MLT units not owned by MIPL and its concert parties, in the event that they trigger a mandatory bid obligation while 7.1 per cent of unitholders voted against this third resolution.
At the EGM, unitholder Teo Junjie questioned why the manager had chosen to acquire 7 of the properties in China which were undergoing stabilisation and required income support. Ng Kiat, chief executive of the manager, replied that the manager was confident of its ability to bring up the occupancy quickly based on MLT' s track record in China over the last 5 years, as well as its network with tenants.
Another unitholder, Lum Yue Wah, asked whether the issue price of S$1.88 was academic. Chairman of the manager' s board Lee Chong Kwee replied that the advantage of using consideration units was in reducing the cash outlay payable by MLT for the acquisitions in China, and also aligns the sponsor' s interests with that of unitholders' . Lee also clarified that the consideration units were to be issued to Mulberry, which was nominated by the relevant Chinese vendors.
Analysts like MLT on better reversions and capital recycling efforts
Analysts are positive on Mapletree Logistics Trust (MLT) following its latest 3QFY2022 ended December 2021 results announcement, which saw DPU for the period come in at 2.185 cents, some 5.8% higher than 2.065 cents last year.
Gross revenue was $166.9 million, a 19.3% y-o-y increase, which brought net property income (NPI) to 17.4% higher y-o-y at $146.4 million. This growth was thanks to higher revenue contribution from existing properties, contributions from accretive acquisitions completed in 9MFY2022 and FY2021, as well as lower rental rebates granted to eligible tenants impacted by Covid-19.
MLT achieved overall portfolio rental reversions of 2.5% in 3QFY2022, an improvement from 2.2% in 1QFY2022 and 2.4% in 2QFY2022. MLT&rsquo s portfolio occupancy stood at 97.8%, and has remained unchanged for three consecutive quarters.
Meanwhile, occupancy in Japan saw a slight 0.5 percentage points (ppt) increase to 96.7%, Hong Kong grew 0.2ppt to 99.9% and South Korea gained 0.4ppt to 98.8%. This growth was partially offset by a 0.9ppt decline in Malaysia to 99.1%. Full occupancy was achieved in Vietnam and Australia.
Following that, OCBC Investment Research is keeping its &ldquo buy&rdquo call on MLT with a fair value estimate of $2.05.
In a Jan 31 report, the OCBC Research Team likes the stock for its diversified logistics portfolio, with presence in key Asian markets, such as Singapore, Hong Kong, Japan, Australia, Vietnam, China and India. The trust&rsquo s management has also shown strong execution capabilities, and its portfolio capital recycling strategy has also resulted in net divestment gains being distributed to unitholders.
&ldquo Although MLT will not be immune to uncertainties in the macroeconomic environment, we expect it to remain relatively more resilient vis-à -vis its peers. We also see MLT as a key beneficiary of the structural shift towards more robust e-commerce growth trends ahead,&rdquo says the research team.
Looking ahead, MLT remains sanguine on the outlook of the logistics sector, and believes there is further room to deepen its presence in existing markets or even penetrate into new countries in Asia-Pacific.
In terms of financial position, MLT&rsquo s aggregate leverage ratio declined from 38.2% in Sept 30, 2021, to 34.7%, as its equity fund raising exercise was completed ahead of the completion of its acquisitions, which means aggregate leverage should increase again in 4QFY2022 to about 39%, according to the research team, who also notes that 79% of MLT&rsquo s borrowings have been fixed/hedged.
Management has also guided that it was looking at potential divestments of $200-400 million over the next 12 months, and is prepared to push its gearing slightly above 40% should inorganic growth opportunities arise. It is also ready to pursue a strategy of acquiring more un-stabilised assets in markets where it has an established presence, on the view that it will be able to ramp up the property&rsquo s occupancy to approximately 90% within 12 months of purchase.
On the other hands, Maybank has also kept its &ldquo buy&rdquo recommendation on MLT with an unchanged target price of $2.35.
Analyst Chua Su Tye not only likes the stock for its steady 3QFY2022 quarter, but also believes that DPU visibility remains strong, underpinned by resilient occupancies from steady demand growth, and upside to rents in FY2023, for its well-placed logistics assets under management (AUM). Chua is also upbeat on the management&rsquo s efforts to further deal momentum to drive AUM growth, and upping its pace of divestments against tightening cap rates.
The analyst notes that portfolio rental reversion was overall better, led by leases in Vietnam (at +4.0%), Malaysia, South Korea and Japan (all +3.0%), Hong Kong (+2.9%) and China (+2.8%). Management believes its reversions in Japan, which rose from +1.5% in the previous quarter could be sustained.
Leasing momentum has also remained strong at about 339,000 sqm renewed or replaced during the quarter. This represents 79% of all expiring leases and 5.0% of MLT&rsquo s portfolio.
Single-asset expiries over FY2023-FY2024 are low at 2.4-6.0% while weighted average leasing expiry (WALE) by NLA was stable at 3.6 years (versus 3.7 years in 2QFY2022).
&ldquo We expect occupancy to remain resilient, as demand continues to be led by e-commerce tenancies and 3PLs, and we see room for rental recovery to strengthen in coming quarters,&rdquo says Chua, who overall likes the stock for its sound balance sheet and accelerated pace of divesting.
As at 12.15pm, units in MLT are trading at $1.73 or 1.2 times FY2022 NAV with a DPU yield of 5.1%, according to OCBC&rsquo s estimates.
https://www.theedgesingapore.com/capital/brokers-calls/analysts-mlt-better-reversions-and-capital-recycling-efforts
Mapletree Logistics Trust posts 5.8% rise in Q3 DPU to S$0.02185
MAPLETREE Logistics Trust Mapletree Log Tr: M44U -1.74% (MLT) on Friday (Jan 28) posted a distribution per unit (DPU) of S$0.02185 for the third fiscal quarter ended Dec 31, 2021, up 5.8 per cent from DPU of S$0.02065 for the corresponding quarter in the year before.
This Q3 FY21/22 DPU comprises an advanced distribution of S$0.01461 for the period Oct 1 to Dec 1 last year that was paid out on Jan 12, and a balance distribution of S$0.00724 for the period Dec 2 to Dec 31 last year that is payable on Mar 22.
This took the trust' s DPU for the 9 months ended December to S$0.06519, up 5.7 per cent from DPU of S$0.06165 in the corresponding year-ago period.
Gross revenue for the quarter under review was up 19.3 per cent year on year to S$166.9 million from S$139.9 million, due primarily to higher revenue contributions from the trust' s acquisitions in China, Vietnam, South Korea, Japan, Australia and India that were completed in FY21/22 and FY20/21, as well as lower rental rebates granted to eligible tenants impacted by Covid-19.
Topline growth was, however, outpaced by a 34.9 per cent rise in property expenses to S$20.4 million from S$15.1 million due to the higher expenses from the aforementioned acquisitions, higher property and land tax, and higher allowance for doubtful receivables.
Consequently, net property income was up 17.4 per cent to S$146.4 million from S$124.7 million.
As at end-December last year, MLT' s portfolio comprised 167 properties with a total value of S$11.5 billion.
Portfolio occupancy stood at 97.8 per cent as at end-2021, with a weighted average lease expiry of 3.6 years. The portfolio had a positive average rental reversion of about 2.5 per cent, contributed by renewal or replacement leases from across almost all of MLT' s markets.
The trust said that through proactive leasing efforts, leases for approximately 339,500 square metres (sq m) of space were successfully renewed or replaced out of a total of 429,400 sq m due for expiry, translating to a success rate of 79 per cent.
As at end-December, MLT also has a gearing ratio of 34.7 per cent with an average debt duration of 3.5 years. The trust said its gearing ratio is expected to increase to 39.1 per cent upon the completion of the proposed acquisitions of 16 properties in China and Vietnam.
In its outlook statement, MLT' s manager said the global economy is expected to continue on an expansionary path in 2022. However, the advent of the Omicron variant and an expected increase in interest rates in some advanced economies could temper this growth.
However, it added that the logistics sector has remained resilient as demand continues to benefit from structural trends such as e-commerce and supply chain diversification.
Ng Kiat, chief executive officer of MLT' s manager, said: " Q3 was also a busy quarter as we scaled up MLT' s regional network with the proposed acquisitions of 17 Grade-A logistics assets in China, Vietnam and Japan.
" With a combined value of S$1.4 billion, they will add 13 million square feet of modern warehouse space to our portfolio. Post-acquisitions, developed markets continue to form the majority of MLT' s portfolio, accounting for approximately 70 per cent of assets under management."
Mapletree Logistics Trust&rsquo s 3Q FY21/22 DPU Rises 5.8% Year-on-Year to 2.185 cents
* 9-month FY21/22 DPU is 5.7% higher at 6.519 cents
* Continuing, steady growth underpinned by organic growth and accretive acquisitions
* Stable portfolio metrics &ndash 97.8% occupancy and 3.6 years WALE
* 9-month FY21/22 DPU is 5.7% higher at 6.519 cents
* Continuing, steady growth underpinned by organic growth and accretive acquisitions
* Stable portfolio metrics &ndash 97.8% occupancy and 3.6 years WALE