Mapletree Logistics Trust
Market Cap
US$4.2b
Last Updated
2020/03/31 03:06 UTC
Data Sources
Company Financials +
Executive Summary
MLT, the first Asia-focused logistics REIT in Singapore, was listed on the SGX-ST main board on 28 July 2005.
Rewards
Risk Analysis
Snowflake Analysis
Established dividend payer and good value.
Similar Companies
Share Price & News
How has Mapletree Logistics Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MAPG.F's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
0%
MAPG.F
15.8%
US REITs
7.2%
US Market
1 Year Return
n/a
MAPG.F
-20.1%
US REITs
-10.4%
US Market
Return vs Industry: Insufficient data to determine how MAPG.F performed against the US REITs industry.
Return vs Market: Insufficient data to determine how MAPG.F performed against the US Market.
Shareholder returns
| MAPG.F | Industry | Market | |
|---|---|---|---|
| 7 Day | 0% | 15.8% | 7.2% |
| 30 Day | -37.6% | -19.2% | -12.6% |
| 90 Day | n/a | -24.6% | -19.4% |
| 1 Year | n/a | -16.8%-20.1% | -8.5%-10.4% |
| 3 Year | 1.0%1.0% | -0.7%-13.1% | 15.8%8.3% |
| 5 Year | -9.3%-9.3% | 13.3%-10.2% | 35.8%21.0% |
Price Volatility Vs. Market
How volatile is Mapletree Logistics Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is Mapletree Logistics Trust undervalued compared to its fair value and its price relative to the market?
1.0%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MAPG.F ($0.78) is trading below our estimate of fair value ($0.79)
Significantly Below Fair Value: MAPG.F is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: MAPG.F is good value based on its PE Ratio (11.8x) compared to the REITs industry average (24.3x).
PE vs Market: MAPG.F is good value based on its PE Ratio (11.8x) compared to the US market (13.1x).
Price to Earnings Growth Ratio
PEG Ratio: MAPG.F is poor value based on its PEG Ratio (945x)
Price to Book Ratio
PB vs Industry: MAPG.F is good value based on its PB Ratio (1.2x) compared to the US REITs industry average (1.3x).
Next Steps
Future Growth
How is Mapletree Logistics Trust forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?
0.01%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MAPG.F's forecast earnings growth (0.01% per year) is below the savings rate (1.7%).
Earnings vs Market: MAPG.F's earnings (0.01% per year) are forecast to grow slower than the US market (12.2% per year).
High Growth Earnings: MAPG.F's earnings are forecast to grow, but not significantly.
Revenue vs Market: MAPG.F's revenue (5.3% per year) is forecast to grow slower than the US market (7.2% per year).
High Growth Revenue: MAPG.F's revenue (5.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MAPG.F's Return on Equity is forecast to be low in 3 years time (6.6%).
Next Steps
Past Performance
How has Mapletree Logistics Trust performed over the past 5 years?
19.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MAPG.F has a large one-off gain of SGD261.3M impacting its December 31 2019 financial results.
Growing Profit Margin: MAPG.F's current net profit margins are lower than last year .
Past Earnings Growth Analysis
Earnings Trend: MAPG.F's earnings have grown by 19.9% per year over the past 5 years.
Accelerating Growth: MAPG.F's earnings growth over the past year (5.9%) is below its 5-year average (19.9% per year).
Earnings vs Industry: MAPG.F earnings growth over the past year (5.9%) exceeded the REITs industry 5%.
Return on Equity
High ROE: MAPG.F's Return on Equity (10.3%) is considered low.
Next Steps
Financial Health
How is Mapletree Logistics Trust's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: MAPG.F has a high level of physical assets or inventory.
Debt Coverage by Assets: MAPG.F's debt is not covered by short term assets (assets are 0.1x debt).
Financial Institutions Analysis
Asset Level: MAPG.F's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if MAPG.F has a sufficient allowance for bad loans.
Low Risk Liabilities: MAPG.F reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if MAPG.F has an acceptable proportion of non-loan assets held.
Low Risk Deposits: MAPG.F has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if MAPG.F has an appropriate level of bad loans.
Next Steps
Dividend
What is Mapletree Logistics Trust's current dividend yield, its reliability and sustainability?
5.21%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MAPG.F's dividend (5.21%) is higher than the bottom 25% of dividend payers in the US market (1.95%).
High Dividend: MAPG.F's dividend (5.21%) is low compared to the top 25% of dividend payers in the US market (5.4%).
Stability and Growth of Payments
Stable Dividend: MAPG.F's dividends per share have been stable in the past 10 years.
Growing Dividend: MAPG.F's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (75.9%), MAPG.F's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MAPG.F's dividends in 3 years are forecast to be thoroughly covered by earnings (0.03% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
8.2yrs
Average management tenure
CEO
Kiat Ng (49yo)
7.67s
Tenure
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 ...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director of Mapletree Logistics Trust Management Ltd. | 7.67yrs | no data | 0.0036% SGD151.6k | |
| Chief Financial Officer of Mapletree Logistics Trust Management Ltd. | 3.25yrs | no data | no data | |
| Head of Investment | no data | no data | no data | |
| Vice President of Investor Relations | 9.17yrs | no data | no data | |
| Head of India for Mapletree Logistics Trust Management Ltd | no data | no data | no data | |
| Head of Asset Management & GM of Singapore - Mapletree Logistics Trust Management Ltd | no data | no data | no data | |
| Head of Group Development Management of Mapletree Investments Pte Ltd | no data | no data | no data | |
| Head of Group Property Management - Mapletree Investments Pte Ltd | no data | no data | no data | |
| Joint Company Secretary of Mapletree Logistics Trust Management Ltd | no data | no data | no data | |
| Joint Company Secretary of Mapletree Logistics Trust Management Ltd | 8.67yrs | no data | no data |
8.2yrs
Average Tenure
Experienced Management: MAPG.F's management team is seasoned and experienced (8.2 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director of Mapletree Logistics Trust Management Ltd. | 7.67yrs | no data | 0.0036% SGD151.6k | |
| Non-Executive Chairman of Mapletree Logistics Trust Management Ltd | 3.58yrs | S$116.50k | 0.0016% SGD68.7k | |
| Independent Non-Executive Director of Mapletree Logistics Trust Management Ltd. | 6.83yrs | S$82.50k | no data | |
| Non-Executive Director of Mapletree Logistics Trust Management Ltd. | 13.67yrs | no data | no data | |
| Independent Non-Executive Director of Mapletree Logistics Trust Management Ltd. | 3yrs | S$93.90k | 0.0026% SGD110.2k | |
| Independent Non-Executive Director of Mapletree Logistics Trust Management Ltd. | 6.42yrs | S$73.00k | 0.0087% SGD363.6k | |
| Lead Independent Non-Executive Director of Mapletree Logistics Trust Management Ltd. | 4.17yrs | S$85.00k | 0.0053% SGD224.1k | |
| Non-Executive Director of Mapletree Logistics Trust Management Ltd. | no data | no data | 0.0031% SGD129.4k | |
| Independent Non-Executive Director of Mapletree Logistics Trust Management Ltd. | 2.25yrs | S$84.00k | no data | |
| Independent Non-Executive Director of Mapletree Logistics Trust Management Ltd. | 1.42yrs | S$82.29k | no data |
4.2yrs
Average Tenure
61yo
Average Age
Experienced Board: MAPG.F's board of directors are considered experienced (4.2 years average tenure).
Ownership
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
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 12.3%.
Top Shareholders
Company Information
Mapletree Logistics Trust's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Mapletree Logistics Trust
- Ticker: MAPG.F
- Exchange: OTCPK
- Founded: 2004
- Industry: Industrial REITs
- Sector: Real Estate
- Market Cap: S$5.966b
- Listing Market Cap: S$4.189b
- Shares outstanding: 3.80b
- Website: https://www.mapletreelogisticstrust.com
Location
- Mapletree Logistics Trust
- No. 10-02 HSBC Building
- 21 Collyer Quay
- Singapore
- 49320
- Singapore
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| M44U | SGX (Singapore Exchange) | Yes | Trust Units | SG | SGD | Jul 2005 |
| MAPG.F | OTCPK (Pink Sheets LLC) | Yes | Trust Units | US | USD | Jul 2005 |
Biography
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. It has a portfolio of 143 logistics assets in Singapore, Hong Kong SAR, Japan, Australia, China, Malaysia, South Korea and Vietnam with assets under management of S$8.3 billion. MLT is managed by Mapletree Logistics Trust Management Ltd., a wholly-owned subsidiary of Mapletree Investments Pte Ltd.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/03/31 03:06 |
| End of Day Share Price | 2020/03/23 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/03/31 |
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.