Stock Name: MapletreeInd
Company Name: MAPLETREE INDUSTRIAL TRUST
“The industrial property sector (in Singapore) is the only commercial segment where rentals have exceeded the 2008 peak, recovering more strongly than office and retail,” said UBS in a report.
Company Name: MAPLETREE INDUSTRIAL TRUST
| Research House: UBS | Price Call: BUY | Target Price: 1.36 |
UBS has initiated coverage of Singapore’s Mapletree Industrial Trust (MAPI.SI), which owns factories and other industrial properties, at buy with a target price of $1.36.
UBS said it expects Mapletree Industrial to record a distribution per unit (DPU) in 2012 of 7.79 cents and to see its DPU grow at an average 5.4% a year over 2012-2015, the highest amongst industrial real estate investment trusts in Singapore.
UBS said it expects Mapletree Industrial to record a distribution per unit (DPU) in 2012 of 7.79 cents and to see its DPU grow at an average 5.4% a year over 2012-2015, the highest amongst industrial real estate investment trusts in Singapore.
“The industrial property sector (in Singapore) is the only commercial segment where rentals have exceeded the 2008 peak, recovering more strongly than office and retail,” said UBS in a report.
The brokerage also noted that rents for multiple-user factories are at a 20-year high, and Mapletree Industrial offers exposure to this segment as 85% of its net lettable area is multiple-user factories.
At 11:12 a.m., shares of Mapletree Industrial were 0.88% higher at $1.15, and have gained 5.9% since the start of the year.
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