M44U Stock Overview
MLT, the first Asia-focused logistics REIT in Singapore, was listed on the SGX-ST main board on 28 July 2005.
Mapletree Logistics Trust Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||S$1.87|
|52 Week High||S$2.16|
|52 Week Low||S$1.77|
|1 Month Change||-6.03%|
|3 Month Change||-10.53%|
|1 Year Change||-3.61%|
|3 Year Change||47.24%|
|5 Year Change||83.33%|
|Change since IPO||111.30%|
Recent News & Updates
|M44U||SG REITs||SG Market|
Return vs Industry: M44U underperformed the SG REITs industry which returned 0.7% over the past year.
Return vs Market: M44U underperformed the SG Market which returned 7.2% over the past year.
|M44U Average Weekly Movement||2.4%|
|REITs Industry Average Movement||2.4%|
|Market Average Movement||4.8%|
|10% most volatile stocks in SG Market||14.5%|
|10% least volatile stocks in SG Market||2.2%|
Stable Share Price: M44U is less volatile than 75% of SG stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: M44U's weekly volatility (2%) has been stable over the past year.
About the Company
MLT, the first Asia-focused logistics REIT in Singapore, was listed on the SGX-ST main board on 28 July 2005. MLT’s principal strategy is to invest in a diversified portfolio of income-producing logistics real estate and real estate-related assets. As at 31 December 2020, it has a portfolio of 156 logistics assets in Singapore, Hong Kong SAR, Japan, China, Australia, Malaysia, South Korea and Vietnam with assets under management of S$10.2 billion.
Mapletree Logistics Trust Fundamentals Summary
|M44U fundamental statistics|
Is M44U overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|M44U income statement (TTM)|
|Cost of Revenue||S$145.65m|
Last Reported Earnings
Sep 30, 2021
Next Earnings Date
|Earnings per share (EPS)||0.11|
|Net Profit Margin||73.46%|
How did M44U perform over the long term?See historical performance and comparison
4.5%Current Dividend Yield
Is Mapletree Logistics Trust undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: M44U (SGD1.87) is trading above our estimate of fair value (SGD1.85)
Significantly Below Fair Value: M44U is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: M44U is good value based on its PE Ratio (17.7x) compared to the SG REITs industry average (20.2x).
PE vs Market: M44U is poor value based on its PE Ratio (17.7x) compared to the SG market (12.9x).
Price to Earnings Growth Ratio
PEG Ratio: M44U is poor value based on its PEG Ratio (2.3x)
Price to Book Ratio
PB vs Industry: M44U is overvalued based on its PB Ratio (1.4x) compared to the SG REITs industry average (1x).
How is Mapletree Logistics Trust forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: M44U's forecast earnings growth (7.7% per year) is above the savings rate (1.8%).
Earnings vs Market: M44U's earnings (7.7% per year) are forecast to grow slower than the SG market (13.6% per year).
High Growth Earnings: M44U's earnings are forecast to grow, but not significantly.
Revenue vs Market: M44U's revenue (8.4% per year) is forecast to grow faster than the SG market (7.3% per year).
High Growth Revenue: M44U's revenue (8.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: M44U's Return on Equity is forecast to be low in 3 years time (6.6%).
How has Mapletree Logistics Trust performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: M44U has a large one-off gain of SGD179.0M impacting its September 30 2021 financial results.
Growing Profit Margin: M44U's current net profit margins (73.5%) are higher than last year (72.7%).
Past Earnings Growth Analysis
Earnings Trend: M44U's earnings have grown by 14.2% per year over the past 5 years.
Accelerating Growth: M44U's earnings growth over the past year (26.5%) exceeds its 5-year average (14.2% per year).
Earnings vs Industry: M44U earnings growth over the past year (26.5%) exceeded the REITs industry 2.6%.
Return on Equity
High ROE: M44U's Return on Equity (8.1%) is considered low.
How is Mapletree Logistics Trust's financial position?
Financial Position Analysis
Short Term Liabilities: M44U's short term assets (SGD358.1M) do not cover its short term liabilities (SGD521.6M).
Long Term Liabilities: M44U's short term assets (SGD358.1M) do not cover its long term liabilities (SGD4.5B).
Debt to Equity History and Analysis
Debt Level: M44U's net debt to equity ratio (64.1%) is considered high.
Reducing Debt: M44U's debt to equity ratio has increased from 65.8% to 68.6% over the past 5 years.
Debt Coverage: M44U's debt is not well covered by operating cash flow (11.2%).
Interest Coverage: M44U's interest payments on its debt are well covered by EBIT (5.7x coverage).
What is Mapletree Logistics Trust current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: M44U's dividend (4.45%) is higher than the bottom 25% of dividend payers in the SG market (2.04%).
High Dividend: M44U's dividend (4.45%) is low compared to the top 25% of dividend payers in the SG market (5.48%).
Stability and Growth of Payments
Stable Dividend: M44U's dividends per share have been stable in the past 10 years.
Growing Dividend: M44U's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (77.5%), M44U's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: M44U's dividends in 3 years are not forecast to be well covered by earnings (123% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Kiat Ng (52 yo)
Ms. Kiat Ng has been the Chief Executive Officer of Mapletree Logistics Trust Management Ltd., Manager of Mapletree Logistics Trust since July 26, 2012. Ms. Ng serves as the Chief Executive Officer of Viet...
Experienced Management: M44U's management team is seasoned and experienced (10.5 years average tenure).
Experienced Board: M44U's board of directors are considered experienced (4.1 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5.4%.
Mapletree Logistics Trust's employee growth, exchange listings and data sources
- Name: Mapletree Logistics Trust
- Ticker: M44U
- Exchange: SGX
- Founded: 2004
- Industry: Industrial REITs
- Sector: Real Estate
- Market Cap: S$8.439b
- Shares outstanding: 4.51b
- Website: https://www.mapletreelogisticstrust.com
- Mapletree Logistics Trust
- No. 10-02 HSBC Building
- 21 Collyer Quay
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/12/03 16:02|
|End of Day Share Price||2021/12/03 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.