Update shared on 19 Nov 2025
Analysts have revised Mapletree Logistics Trust’s price target downward to S$1.31, citing strong recent outperformance and the view that positive factors, especially Mainland China rent reversions, are now fully reflected in the current share price.
Analyst Commentary
Recent analyst evaluations highlight shifting views on Mapletree Logistics Trust. These evaluations recognize past performance while also expressing caution regarding future growth prospects. The following summarizes the main positive and negative takeaways from recent commentary.
Bullish Takeaways
- The trust has significantly outperformed the broader Singapore REITs Index, rising 19% in the past six months. This performance demonstrates effective asset management and strong execution.
- Mainland China rent reversions have improved, contributing meaningfully to earnings and supporting the recent increase in share price.
- The portfolio's resilience and active management have been key factors behind the sustained growth observed during the recent period.
Bearish Takeaways
- Positive developments in Mainland China rents are now considered fully priced in by the market, which may limit near-term upside potential.
- Rent reversion trends in the portfolio segments outside China have slowed, raising concerns about growth sustainability beyond the China market.
- After a substantial rally, valuation metrics may be stretched compared to sector peers, which could limit further outperformance unless new growth drivers emerge.
What's in the News
- Mapletree Logistics Trust announced a distribution for the Second Quarter FY25/26, with unitholders slated to receive a total of SGD 1.815 per unit. The distribution consists of a tax-exempt income component of SGD 0.623 per unit and a capital component of SGD 0.637 per unit (Key Developments).
- The Transfer Books and Register of Unitholders will be closed on Wednesday, 5 November 2025 at 5.00 p.m. to determine entitlements for the upcoming distribution (Key Developments).
- Eligible unitholders can expect the Second Quarter FY25/26 Distribution to be paid out on Tuesday, 16 December 2025 (Key Developments).
Valuation Changes
- The discount rate has risen slightly, moving from 8.86% to approximately 8.97%.
- The revenue growth projection is virtually unchanged, with a marginal dip from 4.53% to 4.53%.
- The net profit margin remains stable, with only a negligible decrease from 44.73% to 44.72%.
- The future P/E ratio has fallen marginally, from 26.25x to 26.14x.
- Consensus analyst fair value remains constant at SGD 1.42 per unit.
Disclaimer
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