Stock Name: MapletreeLog
Company Name: MAPLETREE LOGISTICS TRUST
DBS Vickers Securities in an Oct 24 research report says: "Revenues and net property income grew by 25% and 24% to $68.3 million and $58.9 million respectively, benefiting from an enlarged portfolio.
"MLT had acquired 14 properties in 2010 and an additional 4 assets since the start of 2011. DPU increased by lower 10% to 1.69 cents due to an enlarged share base. DPU includes 0.03 cents from divestment gains of 9 and 39 Tampines.
"Yields of close to 7.7-8.0% are attractive in our view; re-rating catalysts likely to hinge on the manager's ability to continue sourcing accretive acquisitions that will grow distributions. Target price is maintained at $1.07 as we roll forward our valuations to FY2012F. MAINTAIN BUY."
Company Name: MAPLETREE LOGISTICS TRUST
| Research House: DBS Vickers | Price Call: BUY | Target Price: 1.07 |
DBS Vickers Securities in an Oct 24 research report says: "Revenues and net property income grew by 25% and 24% to $68.3 million and $58.9 million respectively, benefiting from an enlarged portfolio.
"MLT had acquired 14 properties in 2010 and an additional 4 assets since the start of 2011. DPU increased by lower 10% to 1.69 cents due to an enlarged share base. DPU includes 0.03 cents from divestment gains of 9 and 39 Tampines.
"Yields of close to 7.7-8.0% are attractive in our view; re-rating catalysts likely to hinge on the manager's ability to continue sourcing accretive acquisitions that will grow distributions. Target price is maintained at $1.07 as we roll forward our valuations to FY2012F. MAINTAIN BUY."
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