Stock Name: MapletreeLog
Company Name: MAPLETREE LOGISTICS TRUST
OCBC Investment Research in a Jan 20 research report says: "NPI increased by 14.4% y-o-y to $61.6 million due to contributions from its acquisitions and organic growth (better rental and occupancy rates) from its existing portfolio.
"Distributable amount similarly grew by 12.2% y-o-y to $41.3 million, though impacted slightly by higher borrowing costs and other expenses. For the quarter, DPU stood at 1.70 cents, up 9.7% y-o-y. This brings the total YTD DPU to 6.54 cents, representing a yield of 7.6%.
"The results were within both our and consensus expectations, with YTD DPU forming 103.4%/97.6% of our/consensus DPU estimates. Portfolio operating performance continues to be healthy, in our view. Higher fair value of $1.10 ($1.07 previously) after rolling our RNAV valuation to 2012. MAINTAIN BUY."
Company Name: MAPLETREE LOGISTICS TRUST
| Research House: OCBC | Price Call: BUY | Target Price: 1.10 |
OCBC Investment Research in a Jan 20 research report says: "NPI increased by 14.4% y-o-y to $61.6 million due to contributions from its acquisitions and organic growth (better rental and occupancy rates) from its existing portfolio.
"Distributable amount similarly grew by 12.2% y-o-y to $41.3 million, though impacted slightly by higher borrowing costs and other expenses. For the quarter, DPU stood at 1.70 cents, up 9.7% y-o-y. This brings the total YTD DPU to 6.54 cents, representing a yield of 7.6%.
"The results were within both our and consensus expectations, with YTD DPU forming 103.4%/97.6% of our/consensus DPU estimates. Portfolio operating performance continues to be healthy, in our view. Higher fair value of $1.10 ($1.07 previously) after rolling our RNAV valuation to 2012. MAINTAIN BUY."
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