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MAPLETREE Industrial Trust (MIT)

MrBear12
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06-May-2024 09:08

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Cheaper than sicktel.
But sicktel growth potential better, Hallelujah

PTL

halleluyah ( Date: 06-May-2024 09:06) Posted:

I Long tis babe n avoid sicko tel....

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halleluyah
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06-May-2024 09:06

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I Long tis babe n avoid sicko tel....

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MrBear12
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28-Apr-2024 10:42

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Singapore industrial rents rise 1.7% in Q1, prices dip for the first time in over three years (msn.com)

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MrBear12
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28-Apr-2024 10:32

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Alignment, I see you are bullish singapore properties.
I am merely neutral.
But that is why I am bear

Alignment ( Date: 28-Apr-2024 10:13) Posted:

I wasnt referring to that property sale that has happened already. I meant its consideration of further divestments in the future. Clearly it may be possible on a case by case basis that someone may pay up for one of its properties. But as a general point now is not a good time to sell if one does not need to.

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Alignment
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28-Apr-2024 10:13

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MrBear12
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27-Apr-2024 22:13

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The sale profits looks pretty good to me.
Nobody really knows when property market will turn up or down.

Got 20% profit, take lah!

Alignment ( Date: 27-Apr-2024 17:19) Posted:

Why sell properties when the market is weak and buy when the market is strong? A good manager should be doing the reverse.

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Alignment
Elite

27-Apr-2024 17:19

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Why sell properties when the market is weak and buy when the market is strong? A good manager should be doing the reverse.

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MrBear12
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27-Apr-2024 12:16

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Brilliant!
Increased payouts for 4 quarters to share in capital gains
No need to say anymore except... ... see below

MrBear12 ( Date: 31-Mar-2024 19:59) Posted:

Get this one for industrial reit.

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Joelton
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27-Apr-2024 12:08

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Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters

Divestment of the Tanglin Halt Cluster has been completed at a sale price of S$50.6 million which represents an 8.4 per cent premium above book value

MAPLETREE Industrial Trust : ME8U 0% (MIT) plans to distribute some S$13 million of gains from divesting its Tanglin Halt Cluster over the next four quarters, its manager said on Friday (Apr 26).

MIT completed the divestment of 115A & 115B Commonwealth Drive, Singapore &ndash referred to as the Tanglin Halt Cluster &ndash at a sale price of S$50.6 million last month. The sale price represented an 8.4 per cent premium above book value.

&ldquo Relative to our original cost, plus our capitalised cost, we have gains of roughly S$13 million,&rdquo said Tham Kuo Wei, chief executive of the real estate investment trust (Reit) manager at an earnings briefing.

&ldquo Our intention is to distribute this S$13 million equally over the four quarters in this financial year,&rdquo he said, adding that the distributions will start from next quarter.

MIT reported on Thursday distribution per unit (DPU) of S$0.0336 for the fourth quarter of its financial year ended March, an increase of 0.9 per cent on year. Total distribution to unitholders rose 4.4 per cent on year to S$95.2 million in Q4 FY24.

The manager is looking more closely at divestments in the current financial year.

It had previously reached out to the market to obtain interest for a broad range of assets in its portfolio, including business park buildings in Singapore and some data centres in the US.

&ldquo The demand has not been that strong, it&rsquo s fairly lukewarm,&rdquo Tham said, adding that it did not reach a stage where the manager could enter into a transaction.

&ldquo We will continue to look at this divestment initiative this year, we think the market should be more conducive,&rdquo he said.

Tham said the manager does not have a specific target on the quantum of assets to divest. &ldquo But I think anything between S$200 million amd S$500 million would be a good band to shoot for.&rdquo

He added that the possibility of getting &ldquo fantastic acquisition deals this year is not high&rdquo .

&ldquo The market is still in a state of flux, and the way for us to get dry powder, and&hellip to move a little ahead of the curve for rebalancing our portfolio, I think we need to look at a bit more divestments,&rdquo he said.

The Reit&rsquo s aggregate leverage ratio rose to 38.7 per cent as at March 2024, up from 37.4 per cent a year earlier. Interest coverage ratio, meanwhile fell to 4.6 times from five times over the same period.

&ldquo Leverage ratio, we think, is still relatively healthy,&rdquo Tham said, adding that it still gives a bit of headroom to take on projects and consider possible acquisitions to help diversify and strengthen the portfolio.

In terms of operational performance, MIT has continued to report positive rental reversion across all property segments, with a weighted average of 6.6 per cent reversion.

Tham noted that the Reit has logged positive rental reversions over the past 10 quarters, and they are reaching a point of &ldquo diminishing returns&rdquo .

The Reit would likely continue to have positive reversion in the next few quarters, but it is likely to range between 4 and 5 per cent, rather than high single digits, as some of the rents being renewed had already been raised previously.

&ldquo That kind of additional upshift from the rental rate perspective will be a bit more muted,&rdquo he said.

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MrBear12
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27-Apr-2024 09:16

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Ever wondered why different REITS perform so differently?

Come and learn with the experienced experts. Visit the link below

REITs Symposium (reitsymposium.com)

See you there!

MrBear12 ( Date: 27-Apr-2024 09:12) Posted:

May I invite you to the Reits symposium happening in May.

https://www.bing.com/search?q=reits+symposium& cvid=a91f7c0ff68b413fba54f3c3066e88d4& gs_lcrp=EgZjaHJvbWUqBggAEEUYOzIGCAAQRRg7MgYIARBFGDzSAQgyNTYyajBqOagCBLACAQ& FORM=ANAB01& PC=U531

Come and be blessed!

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MrBear12
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27-Apr-2024 09:12

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MrBear12
Supreme

27-Apr-2024 08:56

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Nice performance. Just keep and enjoy your payouts. I like this better than ascendas. But that is just a personal fancy.

Joelton ( Date: 27-Apr-2024 00:51) Posted:

Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336

For the full year, MIT&rsquo s DPU fell 1% to S$0.1343, from S$0.1357 the year before

MAPLETREE Industrial Trust : ME8U -0.44% (MIT) on Thursday (Apr 25) posted a distribution per unit (DPU) of S$0.0336 for the fourth quarter ended Mar 31, up 0.9 per cent from S$0.0333 in the corresponding year-ago period.

Unitholders can expect to receive the distributable payout on Jun 10, after book closure on May 6.

Its distributable income for the quarter rose 4.4 per cent to S$95.2 million from S$91.2 million, due to higher net property income and higher distribution declared by its joint venture, Mapletree Rosewood Data Centre Trust.

Revenue for the three months was S$178.7 million, up 4.4 per cent on year from S$171.1 million in Q4 FY2023.

Net property income also climbed in tandem, rising 2.2 per cent year on year to S$131.8 million, from S$128.9 million.

The real estate investment trust&rsquo s (Reit) manager said this was due to contribution from the acquisition of a data centre in Osaka that was completed in September last year, and new leases at the redeveloped property at Mapletree Hi-Tech Park @ Kallang Way, partially offset by loss of income from non-renewed leases.

On a full-year basis, MIT&rsquo s DPU fell 1 per cent to S$0.1343 from S$0.1357 in FY2023.

This is despite distributable income increasing 2.7 per cent to S$378.3 million from S$368.2 million, as the number of units in issue had risen 3.5 per cent to 2.8 million from 2.7 million.

Revenue for the year inched up 1.8 per cent to S$697.3 million, from S$684.9 million. Full-year net property income ticked up 0.6 per cent to S$521 million, from S$518 million the year before.

Tham Kuo Wei, chief executive officer of the Reit manager, said FY2024 was &ldquo a challenging year&rdquo due to macroeconomic uncertainties and headwinds from higher operating expenses and borrowing costs.

&ldquo MIT remained resilient, strengthened its portfolio with its maiden data centre acquisition in Japan, and unlocked value through the divestment of its Tanglin Halt Cluster,&rdquo he said.

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Joelton
Supreme

27-Apr-2024 00:51