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Latest Forum Topics / Mapletree Ind Tr    Last:2.01 --  Post Reply
MAPLETREE Industrial Trust (MIT)
Lobster
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06-Oct-2021 12:18     
 
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 Alert Admin 		Another electricity mental. The whole REIT down la.
so Tech stocks not affected, manufacturing not affected , casino not affected? Only MINT?
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Stocky901
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06-Oct-2021 09:47     
 
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 Alert Admin 		High energy costs can affect the normal operations of data centres?

subaru      ( Date: 05-Oct-2021 13:36) Posted:

any news that caused price weakness ?
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subaru
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05-Oct-2021 13:36     
 
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 Alert Admin 		any news that caused price weakness ?
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Lobster
Elite
03-Sep-2021 23:41     
 
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The current share price levels for the Singapore REIT (S-REIT) sector presents an &ldquo opportunity&rdquo for investors to re-enter, say DBS Group Research analysts Derek Tan, Rachel Tan, Dale Lai and Geraldine Wong on Aug 30.

On the back of the US Federal Reserve chairman Jeremy Powell&rsquo s broad messaging that the US central bank will &ldquo stay the course&rdquo as opposed to being early in its expected taper programme in the 2HFY2021.

On this, the team sees a &ldquo more patient&rdquo FED to be conducive for S-REITs to re-rate, with a rate hike some time away.
&ldquo Taking the cue from the last rate hike normalisation in 2HFY2013-2018, a 1.5 years difference between &ldquo taper signal&rdquo to the first rate hike will imply the first hike will likely be in 2023,&rdquo they write.

As such, the analysts say they &ldquo see sufficient buffer and S-REITs to find its ground post pandemic before addressing interest rate risks and thus recommend investors to take the recent share price weakness to add&rdquo .

To the team, FY2021 and FY2022 yields for S-REITs are attractive at 5.5% and 6.0% respectively. The figures imply that yield spreads against the SG 10-year bond are close to -1 standard deviation (s.d.) at 4.0% to 4.5%.

Furthermore, the potential inclusion of some S-REITs in the FTSE EPRA Nareit Developed Asia Index has brought about more visibility for the sector. This is due to the wider representation of Singapore in major property indices, note the analysts.

As it is, selected mid-cap S-REITs have already attracted incremental inflows due to their possible inclusion into the index.

From now, the analysts say they expect the overall sector to &ldquo build its base from now on&rdquo .

&ldquo We remain optimistic that the S-REITs can continue to ride on the gradual re-opening of the Singapore economy and maintain our view that the robust earnings growth projections in 2HFY2021-2022 to drive a re-rating for the S-REITs,&rdquo they write.

&ldquo We prefer selected retail and office S-REITs (Mapletree Commercial Trust, Suntec REIT, Frasers Centrepoint Trust, Lendlease Global Commercial REIT) and industrial S-REITs for its robust growth trajectories (Mapletree Logistics Trust, Mapletree Industrial Trust, Frasers Logistics & Commercial Trust, ARA LOGOS Logistics Trust and ESR-REIT). Amongst hotels, we prefer global diversified names like CDL Hospitality Trusts.
 
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SGPhantom
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03-Sep-2021 23:09     
 
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 Alert Admin 		Never realized that. Now I'll never sell my MINT. THANKS for sharing! If you can share the source link, that'll be great.

Lobster      ( Date: 31-Aug-2021 23:42) Posted:

10 S-Reits yielding long-term annualised returns  based on 10 YEAR Annualised Total Returns  (%)
Mapletree Industrial Trust   10 Yrs ATR =   16.7 %
Mapletree Logistics Trust    10 Yrs ATR =  16 %
Mapletree Commercial Trust.  10 Yrs ATR =    15.8%
ParkwayLife Reit   10 Yrs ATR =  15%
Aims Apac Reit  10 Yrs ATR =  12.9%
Ascendas India Trust  10 Yrs ATR =  11.8%
Frasers Centrepoint Trust.  10 Yrs ATR =  10.8%
Ascendas Reit.    10 Yrs ATR =  10.4%
Ara Logos Logistics Trust      10 Yrs ATR =  8.0%
ESR-Reit.   10 Yrs ATR =    7.9%



 

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Lobster
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31-Aug-2021 23:42     
 
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 Alert Admin 		10 S-Reits yielding long-term annualised returns  based on 10 YEAR Annualised Total Returns  (%)
Mapletree Industrial Trust   10 Yrs ATR =   16.7 %
Mapletree Logistics Trust    10 Yrs ATR =  16 %
Mapletree Commercial Trust.  10 Yrs ATR =    15.8%
ParkwayLife Reit   10 Yrs ATR =  15%
Aims Apac Reit  10 Yrs ATR =  12.9%
Ascendas India Trust  10 Yrs ATR =  11.8%
Frasers Centrepoint Trust.  10 Yrs ATR =  10.8%
Ascendas Reit.    10 Yrs ATR =  10.4%
Ara Logos Logistics Trust      10 Yrs ATR =  8.0%
ESR-Reit.   10 Yrs ATR =    7.9%



 
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Lobster
Elite
31-Aug-2021 23:05     
 
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10 S-Reits yielding long-term annualised returns

THE 10 best performing S-Reits and property trusts with over a 10-year listing history have averaged 12.5 per cent in 10-year annualised total returns. On an absolute basis across the 10-year period, these 10 trusts have generated total returns averaging 240 per cent as Reits continue to be an asset class of choice for the longer horizon.

Comparatively, the 10 have also outperformed major Asia-Pacific Reit markets which have yielded 10.3 per cent in average total returns for the same period.

Of the 10, the top five trusts Mapletree Industrial Trust  Mapletree Ind Tr: ME8U -0.68%  , Mapletree Logistics Trust  Mapletree Log Tr: M44U -0.98%  , Mapletree Commercial Trust  Mapletree Com Tr: N2IU -2.4%  , ParkwayLife Reit  ParkwayLife Reit: C2PU -1.22%  and Aims Apac Reit  AIMS APAC Reit: O5RU -0.64%  , were also among Asia-Pacific' s 20 best performing Reits with a longer trading history.

Three of these are S-Reits sponsored by Mapletree Investments, which owns and manages over S$66 billion of data centre, industrial, lodging, logistics, mixed-use, multifamily, office, residential and retail properties.

Mapletree Industrial Trust (MINT) listed in October 2010 with an initial investment portfolio of 70 Singapore industrial properties valued at S$2.1 billion including business parks, flatted factories, stack-up/ramp-up buildings and light industrial buildings.
Today, the trust has tripled in portfolio with assets under management of S$6.7 billion across 114 properties in Singapore and North America. In terms of asset mix, MINT has also diversified with acquisitions into high-tech buildings and data centres making up 20.9 per cent and 39.8 per cent respectively. Its latest acquisition of 29 data centres in the United States makes it one of the largest owners of data centres among Asia-Pacific Reits.

Mapletree Logistics Trust (MLT) was one of the first Mapletree Group S-Reits to be listed in July 2005 and was the first Asia-focused logistics Reit. Its portfolio of properties has swelled from 15 properties worth S$422 million to 163 properties worth S$10.7 billion across nine countries in the Asia-Pacific.

MLT now has a diversified tenant base of 752 customers with close to 75 per cent of its portfolio serving consumer-related sectors.

Mapletree Commercial Trust (MCT) listed in April 2011 with three properties located in Singapore valued at S$2.8 billion. Its enlarged portfolio value has since trebled and comprises five Singapore properties worth S$8.7 billion.

ParkwayLife Reit (PLife) listed in August 2007 with just three properties in Singapore - Mount Elizabeth Hospital, Gleneagles Hospital and East Shore Hospital with a combined value of S$775 million. Fourteen years on, it has almost trebled its portfolio value at S$1.99 billion across 53 properties in Singapore, Japan and Malaysia and considers itself to be one of the largest listed healthcare Reits in Asia.

PLife recently completed its third strategic recycling initiative with a divestment of a non-core asset and acquired two nursing homes in Japan, increasing its geographical coverage and further diversification of age-care tenants.

Some may remember Aims Apac Reit as MacarthurCook Industrial Reit which listed in April 2007 with a portfolio of 12 industrial properties in Singapore valued at S$316 million.

The Reit has since rebranded itself in 2019 and has grown over five times in size with a portfolio value of S$1.7 billion across 28 properties in Singapore and Australia.

Its tenant base of 188 tenants has also diversified across the years, and include resilient sectors such as logistics and warehouses, bio-medical and life science, telecommunications and data centre operators accounting for seven out of its top 10 tenants. SGX RES
 


 
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PhillipTan
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02-Aug-2021 21:22     
 
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Analysts positive on MINT' s 1Q22 results, deems it ' good start' to the new FY

Analysts from CGS-CIMB Research, DBS Group Research, Maybank Kim Eng, OCBC Investment Research (OIR) and UOB Kay Hian have all maintained their " add" or " buy" calls on Mapletree Industrial Trust (MINT).

With the exception of OCBC which has kept its fair value estimate of $3.41, the rest of the analysts have upped their target price estimates.

To the research team at OCBC, the REIT' s 1QFY2022 results stood in-line with its expectations.

Distribution per unit (DPU) in the 1QFY2022 grew 16.7% y-o-y to 3.35 cents, which accounted for 25% of its FY2022 forecast.

CGS-CIMB analysts Lock Mun Yee and Eing Kar Mei have upped their target price on the REIT to $3.16 from $3.05 previously. They have also lowered their DPU estimates for the FY2022 by 1.7% due to the possibility of tenant rental reliefs. On the other hand, Lock and Eing have raised their DPU estimates for the FY2023 to FY2024 by 2.5% to 3.7% to factor in the divestment gains from the completion of the sale of 26A Ayer Rajah Crescent.

" With an estimated post [US] acquisition gearing of 40%, we believe MINT is well-placed to continue to tap into acquisition growth opportunities. Meanwhile, the redevelopment of Kolam Ayer Cluster 2 is under way and is

scheduled to be completed in 1HFY2023," write the analysts.

To DBS analysts Derek Tan and Dale Lai, MINT is fast becoming a play for the data centre sector.

The REIT, with its long weighted average lease expiry (WALE) and compound annual growth rate (CAGR) of 7% in terms of DPU over FY2022 to FY2023, should " continue to trade like a data-centre proxy" , note the analysts.

On this, Tan and Lai have upped their target price estimate on MINT to $3.35 from $3.25 previously.

The new target price has not assumed acquisitions in the estimate, but it does assume a target yield of close to 4.0%.

" We like its improved earnings visibility of 7.0% CAGR anchored from acquisitions and the completion of planned developments. In addition, we see debt funded capacity to pursue growth in the data centre space will keep valuations at a premium," they write.

" We believe investors have not priced in the value in MINT' s portfolio. The redevelopment of its land bank of older flatted factories will drive portfolio gross floor area (GFA) and medium-term growth in distributions and net asset value (NAV), keeping valuations at a premium," they add.

Maybank Kim Eng' s Chua Su Tye has increased his target price to $3.35 from $3.24. He has also raised his DPU estimates by 3% to 4% amid the REIT' s 1QFY2022 results.

" [We] see further DPU-accretive deals, as management advances diversification efforts to deepen data centre concentration to 50-67% of assets under management (AUM)," writes Chua.

" We forecast data centres in Singapore and the US to generate 59% of MINT' s net property income (NPI) in FY2022, up from 31% in FY2020," he adds.

Compared to the other analysts, UOB Kay Hian analyst Jonathan Koh has upped his target price estimate slightly to $3.63 from $3.62 previously as MINT' s results for the 1QFY2022 stood in line with his expectations for the FY2022 as well.

" MINT' s hi-tech buildings, business park buildings and flatted factories are less affected by the Covid-19 pandemic and rental relief is not expected to be substantial. Acquisition of the remaining 50% stake in

13 data centres in North America (second JV) could materialise in 2HFY2022," he writes.

Units in MINT closed 3 cents lower or 1% down at $2.97 on Aug 2, or 1.1 times P/NTA, according to Maybank Kim Eng' s estimates.

 
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paul1688
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30-Jul-2021 12:15     
 
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 Alert Admin 		This one from UOBKH
 

Mapletree Industrial Trust (MINT SP)

1QFY22: DPU Expected To Pick Up In 2HFY22 1QFY22

 

DPU grew 16.7% yoy due to consolidation of the first JV with 14 US data centres and acquisition of 8011 Villa Park Drive. MINT&rsquo s hi-tech buildings, business park buildings and flatted factories are less affected by the COVID-19 pandemic and rental relief is not expected to be substantial. Acquisition of the remaining 50% stake in 13 data centres in North America (second JV) could materialise in 2HFY22. MINT provides FY22 distribution yield of 4.7%. Maintain BUY. Target price: S$3.63.

As always please DYODD before buying or trading  
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paul1688
Veteran
29-Jul-2021 14:22     
 
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 Alert Admin 		Thanks for correcting wrong acknowledgment. Yes it
is from CIMB report. 

Lobster      ( Date: 29-Jul-2021 13:47) Posted:

Bro, I think it' s from CIMB, not Maybank.. below more detailed report
Mapletree Industrial Trust:  Strengthening operations

1QFY3/22 results highlights
MINT reported a 29.2%/33.1% yoy rise in 1QFY3/22 revenue/NPI to S$128m/S$104.7m, respectively, due to the consolidation of 14 US data centres (DC) and Virginia DC as well as absence of rental reliefs. Property expenses rose at a slower pace, resulting in a higher NPI margin of 81.8%. 1Q DPU of 3.35 Scts is 16.7% higher yoy.

Singapore portfolio occupancy improved qoq
Portfolio occupancy continued to tick up sequentially to 94.3% at end-1Q, led by a 0.5% pt pick-up in Singapore portfolio occupancy to 93.4% (coming from hi-tech and flatted factories segments). Average Singapore rents rose 3.9% qoq, partly due to the absence of rental reliefs provided to tenants in the quarter. Rent arrears were slightly lower qoq at 1.1% of the previous 12 months&rsquo revenue (vs 1.2% in 4QFY21). Looking ahead, MINT has 10.6%/19.4% of its gross rental income to be renewed in 9MFY22-23F, mainly from its Singapore portfolio. While the operating environment appears to be stabilising with signs of business recovery in Singapore, management indicated that the cautious outlook on rental reversion is likely to continue. With the completion of the sale of 26A Ayer Rajah Crescent, MINT intends to distribute the S$15.7m of net divestment gains over eight quarters, from 2QFY3/22.

New acquisitions to boost US contributions in coming quarters
There was a slight improvement in occupancy of the US portfolio to 97.8% at end-1Q. We anticipate US contributions to increase from 2QFY3/22 with the completion of the acquisition of a portfolio of 29 US data centres in Jul 2021 for US$1.32bn. The purchase was funded through a S$823.3m equity fund raising and debt. The data centre portfolio is 87.8% occupied with a long weighted average lease expiry of 7.9 years, and 89.4% of the leases have an inbuilt rental escalation of 1.5-3% p.a. With an estimated post acquisition gearing of 40%, we believe MINT is well-placed to continue to tap into acquisition growth opportunities. Meanwhile, the redevelopment of Kolam Ayer Cluster 2 is under way and is scheduled to be completed in 1H23.

Reiterate Add rating
We tweak our FY22F DPU slightly to bake in some potential tenant rental reliefs, partly offset by the distribution of divestment gains but raise our FY23-24F estimates by 2.5-3.7% to factor in these divestment gains. Accordingly, our DDM-based TP is raised to S$3.16. Upside risk: better-than-projected rental reversions. Downside risk: protracted recovery leading to a longer recovery period in vacancies and rentals

 


paul1688      ( Date: 29-Jul-2021 12:16) Posted:

From Maybank KE
 

Mapletree Industrial Trust 

Strengthening operations 

■ 1QFY3/22 DPU of 3.35 Scts was in line at 26% of our FY3/22F forecast. 

■ Improved Singapore performance, new acquisitions to boost US income. 

■ Reiterate Add with a higher DDM-based TP of S$3.16.


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Lobster
Elite
29-Jul-2021 13:47     
 
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 Alert Admin 		Bro, I think it' s from CIMB, not Maybank.. below more detailed report
Mapletree Industrial Trust:  Strengthening operations

1QFY3/22 results highlights
MINT reported a 29.2%/33.1% yoy rise in 1QFY3/22 revenue/NPI to S$128m/S$104.7m, respectively, due to the consolidation of 14 US data centres (DC) and Virginia DC as well as absence of rental reliefs. Property expenses rose at a slower pace, resulting in a higher NPI margin of 81.8%. 1Q DPU of 3.35 Scts is 16.7% higher yoy.

Singapore portfolio occupancy improved qoq
Portfolio occupancy continued to tick up sequentially to 94.3% at end-1Q, led by a 0.5% pt pick-up in Singapore portfolio occupancy to 93.4% (coming from hi-tech and flatted factories segments). Average Singapore rents rose 3.9% qoq, partly due to the absence of rental reliefs provided to tenants in the quarter. Rent arrears were slightly lower qoq at 1.1% of the previous 12 months&rsquo revenue (vs 1.2% in 4QFY21). Looking ahead, MINT has 10.6%/19.4% of its gross rental income to be renewed in 9MFY22-23F, mainly from its Singapore portfolio. While the operating environment appears to be stabilising with signs of business recovery in Singapore, management indicated that the cautious outlook on rental reversion is likely to continue. With the completion of the sale of 26A Ayer Rajah Crescent, MINT intends to distribute the S$15.7m of net divestment gains over eight quarters, from 2QFY3/22.

New acquisitions to boost US contributions in coming quarters
There was a slight improvement in occupancy of the US portfolio to 97.8% at end-1Q. We anticipate US contributions to increase from 2QFY3/22 with the completion of the acquisition of a portfolio of 29 US data centres in Jul 2021 for US$1.32bn. The purchase was funded through a S$823.3m equity fund raising and debt. The data centre portfolio is 87.8% occupied with a long weighted average lease expiry of 7.9 years, and 89.4% of the leases have an inbuilt rental escalation of 1.5-3% p.a. With an estimated post acquisition gearing of 40%, we believe MINT is well-placed to continue to tap into acquisition growth opportunities. Meanwhile, the redevelopment of Kolam Ayer Cluster 2 is under way and is scheduled to be completed in 1H23.

Reiterate Add rating
We tweak our FY22F DPU slightly to bake in some potential tenant rental reliefs, partly offset by the distribution of divestment gains but raise our FY23-24F estimates by 2.5-3.7% to factor in these divestment gains. Accordingly, our DDM-based TP is raised to S$3.16. Upside risk: better-than-projected rental reversions. Downside risk: protracted recovery leading to a longer recovery period in vacancies and rentals

 


paul1688      ( Date: 29-Jul-2021 12:16) Posted:

From Maybank KE
 

Mapletree Industrial Trust 

Strengthening operations 

■ 1QFY3/22 DPU of 3.35 Scts was in line at 26% of our FY3/22F forecast. 

■ Improved Singapore performance, new acquisitions to boost US income. 

■ Reiterate Add with a higher DDM-based TP of S$3.16.

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paul1688
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29-Jul-2021 12:16     
 
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 Alert Admin 		From Maybank KE
 

Mapletree Industrial Trust 

Strengthening operations 

■ 1QFY3/22 DPU of 3.35 Scts was in line at 26% of our FY3/22F forecast. 

■ Improved Singapore performance, new acquisitions to boost US income. 

■ Reiterate Add with a higher DDM-based TP of S$3.16.
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Lobster
Elite
29-Jul-2021 11:08     
 
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 Alert Admin 		$2.98/2.99 now. I know there are people watching on the side, admiring the beautiful sight.
Even the teddy bears dare not open mouth. 

Lobster      ( Date: 28-Jul-2021 16:10) Posted:

$2.94/$2.95... No need to explain much.
just like good durians, don' t have to ask where it comes from, or good lobster. Just enjoy them

Lobster      ( Date: 16-Jul-2021 17:52) Posted:

Closed up $2.89 today. The black market never bluffs on such optimism.
if cannot, they will say cannot
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PhillipTan
Supreme
28-Jul-2021 22:56     
 
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DBS raises Mapletree Industrial Trust target to S$3.35 on recent acquisitions

DBS Group Research has reiterated its " buy" call on Mapletree Industrial Trust (MIT), while raising its target price on the real estate investment trust (Reit) to S$3.35 from S$3.25, assuming a target yield of close to 4 per cent.

The move comes after DBS updated its estimates to factor in MIT' s latest acquisitions and a recently completed equity fundraising exercise.

In a report on Wednesday, analysts estimated MIT' s completed acquisition of 29 data centres in the US, as well as its redevelopment of the Kolam Ayer cluster, to drive the trust' s distribution compound annual growth rate (CAGR) by an estimated 7 per cent over the coming two years.

On top of the improved earnings visibility, they also like the Reit for its debt-funded capacity to pursue growth in the data centre space.

Its latest set of Q1 FY2022 financial results also continued to show operational strength, in their view, along with stable financial metrics despite expectations of increased gearing due to the Reit' s data centre acquisitions in the US.

" Even with the higher expected gearing, we remain comfortable that MIT' s balance sheet remains well capitalised with diversified funding sources and no concentration in refinancing," said the analysts.

" We believe investors have not priced in the value in MIT' s portfolio. The redevelopment of its land bank of older flatted factories will drive portfolio gross floor area and medium-term growth in distributions and net asset value (NAV), keeping valuations at a premium," they added.

Given that MIT' s data centre-focused properties now contribute to about 50 per cent of its assets under management, DBS analysts believe this supports the Reit' s 1.6 times price-to-NAV valuation. They also view the Reit' s forward yields of 4.9 per cent to 5.1 per cent as attractive.

" With long weighted average lease expiry and 7 per cent CAGR in distribution per unit over FY2022 to FY2023, we believe that MIT should continue to trade like a data centre proxy," they said.

Units of MIT were trading S$0.07 or 2.4 per cent higher at S$2.95 as at 3.41pm on Wednesday.

 
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Lobster
Elite
28-Jul-2021 16:10     
 
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 Alert Admin 		$2.94/$2.95... No need to explain much.
just like good durians, don' t have to ask where it comes from, or good lobster. Just enjoy them

Lobster      ( Date: 16-Jul-2021 17:52) Posted:

Closed up $2.89 today. The black market never bluffs on such optimism.
if cannot, they will say cannot.

Lobster      ( Date: 28-Jun-2021 21:50) Posted:

A gaint step back to $3.00 region
$2.85 today, up 5 cents. Results look promising 


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actan99
Master
28-Jul-2021 14:46     
 
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 Alert Admin 		Agree,  business very good and has a very bright future.

SGPhantom      ( Date: 28-Jul-2021 10:19) Posted:

Acquisitions are bearing fruits....

PhillipTan      ( Date: 27-Jul-2021 19:08) Posted:

Mapletree Industrial Trust posts 16.7% higher DPU for 1Q21/22 from contributions from North American data centres

The manager of Mapletree Industrial Trust (MINT) has announced distribution per unit (DPU) of 3.35 cents for the 1QFY2021/2022 ended June, 16.7% higher than DPU of 2.87 cents for the 1QFY2020/2021.

Gross revenue for the quarter rose 29.2% y-o-y to $128.1 million, while net property income (NPI) increased by 33.1% y-o-y to $104.7 million. The growth was mainly due to the consolidation of revenue and expenses from the 14 data centres in the US, the contribution from MINT' s recent acquisition of 8011 Villa Park Drive in Virginia, as well as the absence of rental reliefs provided to tenants during the 1QFY2021/2022.

Accordingly, distributable amount for the quarter stood 17.2% higher y-o-y at $82.7 million.

As at June 30, the REIT' s average overall portfolio occupancy increased 0.6 percentage points q-o-q to 94.3%, attributable to the full quarter impact of the completion of the acquisition of the Virginia property, as well as an improvement in the average occupancy of MINT' s Singapore portfolio.

The REIT' s weighted average lease expiry (WALE) stood at 3.7 years in terms of gross rental income (GRI).

As at June 30, cash and cash equivalents stood at $737.4 million.

" The strategic addition of the portfolio of 29 data centres in key data centre markets in the United States will help strengthen MINT' s resilience with the increased freehold land component and long leases with annual rental escalations," says Tham Kuo Wei, CEO of the manager.

" Our growth strategy is supported by the inaugural issuance of S$300 million of perpetual securities and successful completion of an $823.3 million equity fund raising exercise. Our large and diversified tenant base as well as proactive portfolio rebalancing efforts will put MINT in a good stead to weather the uncertainties ahead," he adds.

Units in MINT closed flat at $2.88 on July 27.

 


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SGPhantom
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28-Jul-2021 10:19     
 
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 Alert Admin 		Acquisitions are bearing fruits....

PhillipTan      ( Date: 27-Jul-2021 19:08) Posted:

Mapletree Industrial Trust posts 16.7% higher DPU for 1Q21/22 from contributions from North American data centres

The manager of Mapletree Industrial Trust (MINT) has announced distribution per unit (DPU) of 3.35 cents for the 1QFY2021/2022 ended June, 16.7% higher than DPU of 2.87 cents for the 1QFY2020/2021.

Gross revenue for the quarter rose 29.2% y-o-y to $128.1 million, while net property income (NPI) increased by 33.1% y-o-y to $104.7 million. The growth was mainly due to the consolidation of revenue and expenses from the 14 data centres in the US, the contribution from MINT' s recent acquisition of 8011 Villa Park Drive in Virginia, as well as the absence of rental reliefs provided to tenants during the 1QFY2021/2022.

Accordingly, distributable amount for the quarter stood 17.2% higher y-o-y at $82.7 million.

As at June 30, the REIT' s average overall portfolio occupancy increased 0.6 percentage points q-o-q to 94.3%, attributable to the full quarter impact of the completion of the acquisition of the Virginia property, as well as an improvement in the average occupancy of MINT' s Singapore portfolio.

The REIT' s weighted average lease expiry (WALE) stood at 3.7 years in terms of gross rental income (GRI).

As at June 30, cash and cash equivalents stood at $737.4 million.

" The strategic addition of the portfolio of 29 data centres in key data centre markets in the United States will help strengthen MINT' s resilience with the increased freehold land component and long leases with annual rental escalations," says Tham Kuo Wei, CEO of the manager.

" Our growth strategy is supported by the inaugural issuance of S$300 million of perpetual securities and successful completion of an $823.3 million equity fund raising exercise. Our large and diversified tenant base as well as proactive portfolio rebalancing efforts will put MINT in a good stead to weather the uncertainties ahead," he adds.

Units in MINT closed flat at $2.88 on July 27.

 

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Joelton
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28-Jul-2021 09:29     
 
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Mapletree Industrial Trust Q1 DPU up 16.7% to 3.35 Singapore cents on US income boost
 
MAPLETREE Industrial Trust has bumped up first-quarter distribution per unit (DPU) to 3.35 Singapore cents, including an advanced distribution announced in end-May.
 
Taking into account the previous payout for April 1 to May 31, which was made ahead of issuing new units in a private placement and preferential offering, DPU for the quarter was up from the 2.87 Singapore cents paid out in the year-ago period.
 
Distributable income grew 17.2 per cent to S$82.7 million for the three months to June 30, with a boost from revenue from assets in the United States.
 
Net property income rose by 33.1 per cent to S$104.7 million, as gross revenue jumped by 29.2 per cent to S$128.1 million, Mapletree disclosed in its results on Tuesday.
 
The lift came on the consolidation of revenue from 14 US data centres previously held by joint venture Mapletree Redwood Data Centre Trust, as well as contributions from another data centre in the US, which was acquired in mid-March.
 
Meanwhile, net gains from the divestment of a data centre in Singapore' s Ayer Rajah will be distributed over eight quarters from the second quarter, the manager said.
 
The manager noted that average occupancy for the Singapore portfolio, which comprises 86 properties, improved quarter on quarter on higher occupancies for high-tech buildings, flatted factories and stack-up and ramp-up buildings, even as average rental rate picked up in the absence of rental relief for tenants.
 
Mapletree Industrial Trust also manages 28 properties in North America, including 13 data centres held through a joint venture with the owner of the manager.
 
Portfolio weighted average lease expiry by gross rental income stood at 3.7 years as at end-June, while average occupancy was 94.3 per cent. The trust had an aggregate leverage of 31.0 per cent, with weighted average debt tenor of 2.8 years.
 
Referring to the trust' s US$1.32 billion acquisition of 29 US data centres on July 22, Tham Kuo Wei, chief executive of the manager, said in a statement that the latest portfolio addition " will help strengthen (its) resilience with the increased freehold land component and long leases with annual rental escalations" .
 
The books will close on Aug 4. The DPU will be paid out on Sept 3.
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PhillipTan
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27-Jul-2021 19:08     
 
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Mapletree Industrial Trust posts 16.7% higher DPU for 1Q21/22 from contributions from North American data centres

The manager of Mapletree Industrial Trust (MINT) has announced distribution per unit (DPU) of 3.35 cents for the 1QFY2021/2022 ended June, 16.7% higher than DPU of 2.87 cents for the 1QFY2020/2021.

Gross revenue for the quarter rose 29.2% y-o-y to $128.1 million, while net property income (NPI) increased by 33.1% y-o-y to $104.7 million. The growth was mainly due to the consolidation of revenue and expenses from the 14 data centres in the US, the contribution from MINT' s recent acquisition of 8011 Villa Park Drive in Virginia, as well as the absence of rental reliefs provided to tenants during the 1QFY2021/2022.

Accordingly, distributable amount for the quarter stood 17.2% higher y-o-y at $82.7 million.

As at June 30, the REIT' s average overall portfolio occupancy increased 0.6 percentage points q-o-q to 94.3%, attributable to the full quarter impact of the completion of the acquisition of the Virginia property, as well as an improvement in the average occupancy of MINT' s Singapore portfolio.

The REIT' s weighted average lease expiry (WALE) stood at 3.7 years in terms of gross rental income (GRI).

As at June 30, cash and cash equivalents stood at $737.4 million.

" The strategic addition of the portfolio of 29 data centres in key data centre markets in the United States will help strengthen MINT' s resilience with the increased freehold land component and long leases with annual rental escalations," says Tham Kuo Wei, CEO of the manager.

" Our growth strategy is supported by the inaugural issuance of S$300 million of perpetual securities and successful completion of an $823.3 million equity fund raising exercise. Our large and diversified tenant base as well as proactive portfolio rebalancing efforts will put MINT in a good stead to weather the uncertainties ahead," he adds.

Units in MINT closed flat at $2.88 on July 27.

 
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actan99
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21-Jul-2021 11:54     
 
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 Alert Admin 		back to phase 2 ,    industrial reits like this,    should be a good and defensive reit.
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