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MAPLETREE Industrial Trust (MIT)
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Delvyss
Elite |
11-Nov-2024 11:07
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" The latest investment analysis on Mapletree Industrial Trust " https://www.dbs.com.sg/treasures/aics/templatedata/article/generic/data/en/GR/AXJ/MINT_SP.xml |
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Delvyss
Elite |
11-Nov-2024 10:13
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Think DBS sees good value in MINT. |
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seanpent
Supreme |
11-Nov-2024 09:51
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Is DBS accumulating this ?
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Delvyss
Elite |
11-Nov-2024 09:45
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A positive news worthy of attention
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Delvyss
Elite |
11-Nov-2024 09:34
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Treasury yield may be moving down to reality: https://www.cnbc.com/2024/11/08/us-treasurys-investors-weigh-economic-outlook-after-fed-rate-cut.html |
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dontbetray
Master |
10-Nov-2024 00:25
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Nope. Not surprise than this news DBS buys 164,000 units in MINT for $0.4 milAshley Lo
Thu, 7 November 2024 at 1:24 PM SGT1-min read
 Following the transaction, DBS&rsquo stake in MINT came up to 0.751%. DBS Bank has bought 164,000 units in Mapletree Industrial Trust Me8u (MINT) on Oct 30, for a purchase consideration of $0.4 million or $2.41 apiece.
Following the transaction, DBS&rsquo stake in MINT came up to 0.751%. On Sept 23, DBS also bought 335,000 units in MINT for $0.8 million, or $2.45 per unit. This brought the bank&rsquo s stake to 0.65%. For the 2QFY2025 ended September, MINT reported a distribution per unit (DPU) of 3.37 cents, up 1.5% y-o-y. Units in MINT closed 8 cents lower, or down 3.42%, at $2.26 on Nov 7.
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Luzern
Supreme |
30-Oct-2024 09:18
Yells: "9" |
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Result nice surprise. | ||||
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Goldfinger
Supreme |
29-Oct-2024 22:09
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In the face of so many headwinds and challenges, this MINT stands out like a crown jewel. Well done! | ||||
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spursfan
Supreme |
29-Oct-2024 19:50
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https://links.sgx.com/1.0.0/corporate-announcements/GDVPK04CPBBTDDOF/823422_20241029_2QFY24_Press%20Release.pdf | ||||
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Joelton
Supreme |
04-Oct-2024 12:22
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Maybank upgrades Mapletree Industrial Trust to &lsquo buy&rsquo on Japan acquisition
Price target has been raised to S$2.60 from S$2.15 to account for a lower risk-free rate of 2.75 per cent versus 3 per cent previously
MAYBANK Securities has upgraded its call on Mapletree Industrial Trust : ME8U +1.2% (MIT) to &ldquo buy&rdquo from &ldquo hold&rdquo after its manager announced its planned acquisition of a freehold mixed-use property in Tokyo for 14.5 billion yen (S$130 million).
The research house raised its price target to S$2.60 from S$2.15 to account for a lower risk-free rate of 2.75 per cent versus 3 per cent previously. Its forecasts for FY2025 to FY2026 have been lifted by 0.2 to 0.5 per cent to factor in topline contributions from the asset upon its expected completion in the fourth quarter of 2024.
In a report on Wednesday (Oct 2), analyst Li Jialin said that she sees potential redevelopment opportunities for the site when its existing lease expires, with a data centre expected to be built by 2033 or 2034 assuming non-renewal in five years&rsquo time.
Though the proposed acquisition of the Tokyo site is expected to raise MIT&rsquo s gearing, the analyst believes proceeds from the trust&rsquo s recently resumed distribution reinvestment plan could reduce the gearing progressively.
&ldquo In our view, it&rsquo s more likely MIT could execute its divestment pipeline of S$200-400 million in the next 12 months, given a more favourable transaction market,&rdquo she noted.
Li also likes MIT for its net property income yield of 4 per cent, which she highlighted will offer downside protection.
In the medium term, she expects portfolio reconstitution to gain further momentum and believes the trust is likely to see deals with &ldquo more interesting risk-return profiles&rdquo .
&ldquo Supported by falling interest rates, its sponsor and divestment pipeline, we expect more acquisitions with a stable income stream and growth potential,&rdquo added Li.
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actan99
Master |
01-Oct-2024 11:47
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UP. | ||||
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Joelton
Supreme |
01-Oct-2024 11:42
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MINT proposes to acquire Tokyo freehold mixed-use property for JPY14.5 bil
Mapletree Industrial Trust (MINT) is proposing to acquire a multi-storey mixed-use facility in Tokyo, Japan for JPY14.5 billion ($129.8 million).
The proposed acquisition is made under the conditional trust beneficiary interest purchase and share agreement with Nagayama Tokutei Mokuteki Kaisha, an unrelated third-party vendor. Under the structure, MINT will have an effective economic interest of 98.47% in the property with an acquisition outlay of JPY14.9 billion. The balance of the purchase consideration will be funded by MINT&rsquo s sponsor, Mapletree Investments.
Constructed in October 1992, the building sits on freehold land measuring approximately 91,200 sq ft. The property has a gross floor area of around 319,300 sq ft.
The facility includes a data centre, back office, training facilities and an adjacent accommodation wing that has the potential to be redeveloped into a multi-storey data centre.
The property is currently fully leased to a Japanese conglomerate and has a weighted average lease to expiry (WALE) of five years. The current lease is a traditional regular one where the tenant has the option to renew its lease.
According to MINT, the property is in a strategic location, which presents a future redevelopment opportunity that creates added value.
&ldquo End-users and data centre operators have expanded into new data centre clusters across Greater Tokyo in view of the constraints of land and power and the need for greater redundancy. These resulted in West Tokyo becoming a larger submarket, which accounted for about 40% of total live IT supply in Greater Tokyo market,&rdquo the REIT manager explains in its Sept 30 announcement.
With strong demand and limited supply growth, the data centre space is expected to grow at a compound annual growth rate (CAGR) of 9.3% from 2023 to 2033, says MINT&rsquo s manager referring to statistics from DC Byte&rsquo s Japan data centre market report for this year. The same report notes that the vacancy rate is expected to tighten to 6% by 2033, from 9% in 2023 and 23% in 2018.
In addition, the proposed acquisition captures opportunities in Japan, which has over 5,000 megawatts of total IT supply and is Asia-Pacific&rsquo s (APAC) third-largest data centre market.
Following the proposed acquisition, MINT will have 65.9% of freehold properties in its portfolio, up from the proportion of 65.8% as at June 30. Its portfolio will grow to $9.1 billion by assets under management (AUM) up from $9.0 billion as at the same period.
It will also improve MINT&rsquo s geographical diversification with its Japan portfolio up by 1.3 percentage points to 6.4% from 5.1% as at June 30. MINT&rsquo s Singaporean and North American properties will represent 47.3% and 46.3% respectively.
On a historical pro forma basis, the proposed acquisition and its proposed method of financing will be accretive to MINT&rsquo s distribution per unit (DPU). The manager intends to finance the total cost through Japanese yen (JPY)-denominated borrowings to &ldquo provide a natural capital hedge&rdquo . MINT&rsquo s aggregate leverage ratio is expected to increase to 39.8% from 39.1% as at June 30.
The consideration represents a discount of some 3.3% to the property&rsquo s valuation of JPY15.0 billion. The property was independently valued by JLL Morii Valuation & Advisory K.K.
The proposed acquisition is expected to take place by the fourth quarter of 2024.
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hypewhy
Member |
21-Sep-2024 01:40
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are they leader in reit play? | ||||
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pasttime
Supreme |
16-Sep-2024 16:18
Yells: "gold silver are real money. not others iou." |
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use to be around $3. ura reject tender for jurong lake distrcit site removed 1.57m sqft potential supply for nect ten years. that is good news forall office owners |
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actan99
Master |
06-Sep-2024 23:14
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FED gona cut cut cut interest rates soon. Just by how much only. Next week chiong again ? Wats the analyst tp for here ? Bought some few mths back, next week add some more, isit too late ? |
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Alignment
Elite |
02-Sep-2024 20:26
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Of the three this one has the strongest momentum from an operational perspective. | ||||
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Delvyss
Elite |
30-Aug-2024 10:01
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The 3 Mapletrees are find their way up again | ||||
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spore1
Supreme |
25-Aug-2024 12:18
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Is a good price to take up the scrip and an instant gains plus can collect future dividend! Best of both world!
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Alignment
Elite |
24-Aug-2024 13:41
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All these deadlines extended, presumably because the share prices have begun to recover and people wanted to take up the DRP at the discounted prices? Hope everyone took advantage of that when they got the second chance because looks like Monday onwards is going to be giving more pushes from the Fed. |
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casarasa
Member |
22-Aug-2024 09:28
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Deadline for submission of DRP form extended to 28 Aug. | ||||
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