Stock Name: Mapletree Ind Tr
Company Name: MAPLETREE INDUSTRIAL TRUST
Company Name: MAPLETREE INDUSTRIAL TRUST
| Research House: Daiwa | Price Call: BUY | Target Price: 1.68 |
SINGAPORE: Daiwa Capital Markets has kept its "outperform" rating for Mapletree Industrial Trust (MIT) but raised its price target to $1.68 from $1.65 to factor in expected lower interest costs.
"Unit holders' continued strong take-up of its dividend reinvestment plan is helping MIT to fund development costs and repay loans," Daiwa analysts Evon Tan and David Lum wrote in a note after the REIT released its December-quarter results.
MIT's distribution per unit of 2.67 cents for the quarter was above expectation, as costs were lower than projected, they noted.
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