Mapletree Logistics Trust
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MLT, the first Asia-focused logistics REIT in Singapore, was listed on the SGX-ST main board on 28 July 2005. The last earnings update was 24 days ago. More info.
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MAPG.F Share Price and Events
7 Day Returns
1 Year Returns
MAPG.F Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Mapletree Logistics Trust (MAPG.F) | 0% | -2.8% | - | - | 37.1% | 27.3% |
| US REITs | 1.8% | 2.4% | 3.1% | 16.3% | 13.8% | 26.4% |
| US Market | -0.7% | -2% | 2.4% | 3% | 39.2% | 42% |
1 Year Return vs Industry and Market
- No trading data on MAPG.F.
- No trading data on MAPG.F.
Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Mapletree Logistics Trust
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Mapletree Logistics Trust.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations | |
| Levered Adjusted Funds From Operations | Average of 14 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.8% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| REITs Unlevered Beta | Simply Wall St/ S&P Global | 0.53 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 17%) (56.56%)) |
0.853 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.85 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.853 * 5.96%) |
7.81% |
Discounted Cash Flow Calculation for OTCPK:MAPG.F using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model
The calculations below outline how an intrinsic value for Mapletree Logistics Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
Mapletree Logistics Trust is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.
| Adjusted Funds From Operations (AFFO) (SGD, Millions) | Source |
Present Value Discounted (@ 7.81%) |
|
|---|---|---|---|
| 2019 | 162.00 | Analyst x1 | 150.26 |
| 2020 | 228.00 | Analyst x1 | 196.15 |
| 2021 | 249.00 | Analyst x1 | 198.70 |
| 2022 | 286.62 | Est @ 15.11% | 212.14 |
| 2023 | 319.28 | Est @ 11.39% | 219.19 |
| 2024 | 347.36 | Est @ 8.8% | 221.19 |
| 2025 | 371.59 | Est @ 6.98% | 219.47 |
| 2026 | 392.78 | Est @ 5.7% | 215.17 |
| 2027 | 411.67 | Est @ 4.81% | 209.18 |
| 2028 | 428.91 | Est @ 4.19% | 202.15 |
| Present value of next 10 years cash flows | SGD2,043.61 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= SGD428.91 × (1 + 2.73%) ÷ (7.81% – 2.73%) |
SGD8,669.12 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= SGD8,669.12 ÷ (1 + 7.81%)10 |
SGD4,085.83 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= SGD2,043.61 + SGD4,085.83 |
SGD6,129.44 |
| Equity Value per Share (SGD) |
= Total value / Shares Outstanding
= SGD6,129.44 / 3,624.98 |
SGD1.67 |
| Calculation | Result | |
|---|---|---|
| Non-primary Listing Adjustment Factor |
1 share in OTCPK:MAPG.F
represents 0.71918x
of
SGX:M44U
(This could be a different class, a depositary receipt, a different currency, or all of these things.) |
0.71918x |
| Value per Share (Listing Adjusted, USD) |
= Value per Share (SGD) x Listing Adjustment Factor
= SGD 1.67 x 0.71918 |
$1.20 |
| Value per share (USD) | From above. | $1.20 |
| Current discount | Discount to share price of
$1.05
= -1 x ($1.05 - $1.20) / $1.20 |
12.8% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Mapletree Logistics Trust's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- Mapletree Logistics Trust's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Mapletree Logistics Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Mapletree Logistics Trust's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in SGD | SGD0.13 |
| SGX:M44U Share Price ** | SGX (2019-05-15) in SGD | SGD1.46 |
| United States of America REITs Industry PE Ratio | Median Figure of 156 Publicly-Listed REITs Companies | 32.79x |
| United States of America Market PE Ratio | Median Figure of 3,088 Publicly-Listed Companies | 17.89x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Mapletree Logistics Trust.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = SGX:M44U Share Price ÷ EPS (both in SGD) = 1.46 ÷ 0.13 |
11.26x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Mapletree Logistics Trust is good value based on earnings compared to the US REITs industry average.
- Mapletree Logistics Trust is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Mapletree Logistics Trust's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 11.26x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts |
-16.3%per year |
| United States of America REITs Industry PEG Ratio | Median Figure of 141 Publicly-Listed REITs Companies | 2.4x |
| United States of America Market PEG Ratio | Median Figure of 2,117 Publicly-Listed Companies | 1.56x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 11.26x ÷ -16.3% |
-0.69x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Mapletree Logistics Trust earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Mapletree Logistics Trust's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in SGD | SGD1.29 |
| SGX:M44U Share Price * | SGX (2019-05-15) in SGD | SGD1.46 |
| United States of America REITs Industry PB Ratio | Median Figure of 191 Publicly-Listed REITs Companies | 1.86x |
| United States of America Market PB Ratio | Median Figure of 5,195 Publicly-Listed Companies | 1.83x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = SGX:M44U Share Price ÷ Book Value per Share (both in SGD) = 1.46 ÷ 1.29 |
1.13x |
* Primary Listing of Mapletree Logistics Trust.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Mapletree Logistics Trust is good value based on assets compared to the US REITs industry average.
Value checks
We assess Mapletree Logistics Trust's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) Mapletree Logistics Trust has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Mapletree Logistics Trust's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
- Mapletree Logistics Trust's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
- Mapletree Logistics Trust's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| OTCPK:MAPG.F Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts | -16.3% |
| OTCPK:MAPG.F Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts | 5.6% |
| United States of America REITs Industry Earnings Growth Rate | Market Cap Weighted Average | 5.7% |
| United States of America REITs Industry Revenue Growth Rate | Market Cap Weighted Average | 4.3% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.9% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.3% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 14 Analyst Estimates (S&P Global) | See Below |
| Date (Data in SGD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2024-03-31 | ||||
| 2023-03-31 | ||||
| 2022-03-31 | 531 | 379 | 285 | 5 |
| 2021-03-31 | 518 | 358 | 307 | 13 |
| 2020-03-31 | 501 | 366 | 272 | 11 |
| Date (Data in SGD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 453 | 354 | 439 |
| 2018-12-31 | 439 | 345 | 460 |
| 2018-09-30 | 417 | 310 | 449 |
| 2018-06-30 | 405 | 276 | 494 |
| 2018-03-31 | 395 | 267 | 449 |
| 2017-12-31 | 384 | 249 | 232 |
| 2017-09-30 | 382 | 273 | 263 |
| 2017-06-30 | 379 | 274 | 200 |
| 2017-03-31 | 373 | 267 | 184 |
| 2016-12-31 | 365 | 251 | 181 |
| 2016-09-30 | 359 | 237 | 153 |
| 2016-06-30 | 354 | 236 | 161 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 14 Analyst Estimates (S&P Global) | See Below |
All data from Mapletree Logistics Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in SGD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2024-03-31 | ||||
| 2023-03-31 | ||||
| 2022-03-31 | 0.08 | 0.08 | 0.07 | 4.00 |
| 2021-03-31 | 0.09 | 0.13 | 0.07 | 12.00 |
| 2020-03-31 | 0.08 | 0.08 | 0.07 | 5.00 |
| Date (Data in SGD Millions) | EPS * |
|---|---|
| 2019-03-31 | 0.13 |
| 2018-12-31 | 0.14 |
| 2018-09-30 | 0.14 |
| 2018-06-30 | 0.17 |
| 2018-03-31 | 0.16 |
| 2017-12-31 | 0.08 |
| 2017-09-30 | 0.09 |
| 2017-06-30 | 0.08 |
| 2017-03-31 | 0.07 |
| 2016-12-31 | 0.07 |
| 2016-09-30 | 0.06 |
| 2016-06-30 | 0.06 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Mapletree Logistics Trust is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Future performance checks
We assess Mapletree Logistics Trust's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Mapletree Logistics Trust has a total score of 0/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has Mapletree Logistics Trust performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Mapletree Logistics Trust's year on year earnings growth rate has been positive over the past 5 years.
- Mapletree Logistics Trust's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Mapletree Logistics Trust's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
All data from Mapletree Logistics Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in SGD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 452.72 | 438.99 | 1.02 | |
| 2018-12-31 | 439.04 | 460.18 | 3.05 | |
| 2018-09-30 | 416.85 | 448.97 | 2.99 | |
| 2018-06-30 | 404.58 | 493.70 | 2.95 | |
| 2018-03-31 | 395.18 | 449.15 | 2.91 | |
| 2017-12-31 | 384.21 | 232.33 | 2.77 | |
| 2017-09-30 | 381.51 | 262.67 | 2.75 | |
| 2017-06-30 | 379.38 | 200.35 | 2.74 | |
| 2017-03-31 | 373.14 | 184.27 | 2.73 | |
| 2016-12-31 | 365.10 | 180.88 | 2.92 | |
| 2016-09-30 | 358.50 | 152.51 | 2.93 | |
| 2016-06-30 | 354.40 | 160.65 | 2.93 | |
| 2016-03-31 | 349.91 | 190.19 | 2.91 | |
| 2015-12-31 | 346.14 | 234.91 | 3.08 | |
| 2015-09-30 | 340.13 | 236.17 | 3.04 | |
| 2015-06-30 | 334.18 | 254.38 | 3.02 | |
| 2015-03-31 | 330.11 | 240.98 | 3.00 | |
| 2014-12-31 | 325.58 | 287.48 | 2.96 | |
| 2014-09-30 | 320.76 | 282.76 | 2.95 | |
| 2014-06-30 | 316.30 | 280.61 | 2.95 | |
| 2014-03-31 | 310.71 | 292.69 | 2.94 | |
| 2013-12-31 | 306.36 | 205.13 | 2.29 | |
| 2013-09-30 | 305.67 | 220.30 | 2.24 | |
| 2013-06-30 | 306.10 | 224.95 | 2.30 | |
| 2013-03-31 | 307.79 | 202.71 | 2.31 | |
| 2012-12-31 | 297.56 | 292.35 | 0.61 | |
| 2012-09-30 | 292.03 | 278.78 | -0.50 | |
| 2012-06-30 | 282.90 | 246.95 | 3.58 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Mapletree Logistics Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Mapletree Logistics Trust used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
- Mapletree Logistics Trust's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Mapletree Logistics Trust's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Mapletree Logistics Trust has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is Mapletree Logistics Trust's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Mapletree Logistics Trust's finances.
The net worth of a company is the difference between its assets and liabilities.
- Mapletree Logistics Trust's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Mapletree Logistics Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Mapletree Logistics Trust Company Filings, last reported 1 month ago.
| Date (Data in SGD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 4,667.19 | 2,993.67 | 104.30 |
| 2018-12-31 | 4,475.13 | 3,007.80 | 117.87 |
| 2018-09-30 | 4,462.14 | 2,902.40 | 125.71 |
| 2018-06-30 | 4,069.13 | 2,435.84 | 96.06 |
| 2018-03-31 | 3,811.78 | 2,511.81 | 101.22 |
| 2017-12-31 | 3,632.76 | 2,398.70 | 110.75 |
| 2017-09-30 | 3,327.25 | 1,845.89 | 87.61 |
| 2017-06-30 | 3,149.38 | 2,201.95 | 95.80 |
| 2017-03-31 | 3,189.68 | 2,184.10 | 92.56 |
| 2016-12-31 | 3,181.99 | 2,175.35 | 84.28 |
| 2016-09-30 | 3,110.28 | 2,047.22 | 81.62 |
| 2016-06-30 | 3,096.99 | 1,868.34 | 109.05 |
| 2016-03-31 | 2,878.46 | 2,058.32 | 93.32 |
| 2015-12-31 | 2,892.22 | 2,009.37 | 122.01 |
| 2015-09-30 | 2,873.55 | 1,985.58 | 111.60 |
| 2015-06-30 | 2,855.17 | 1,619.74 | 108.67 |
| 2015-03-31 | 2,888.33 | 1,631.88 | 106.86 |
| 2014-12-31 | 2,772.03 | 1,588.46 | 119.67 |
| 2014-09-30 | 2,745.13 | 1,473.07 | 113.65 |
| 2014-06-30 | 2,735.76 | 1,475.32 | 118.98 |
| 2014-03-31 | 2,732.18 | 1,455.38 | 114.28 |
| 2013-12-31 | 2,624.82 | 1,438.57 | 122.80 |
| 2013-09-30 | 2,616.85 | 1,478.09 | 128.70 |
| 2013-06-30 | 2,597.95 | 1,450.19 | 133.33 |
| 2013-03-31 | 2,582.25 | 1,439.10 | 134.81 |
| 2012-12-31 | 2,541.44 | 1,516.87 | 140.01 |
| 2012-09-30 | 2,523.37 | 1,598.88 | 147.21 |
| 2012-06-30 | 2,544.04 | 1,620.45 | 173.59 |
- Mapletree Logistics Trust's level of debt (64.1%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (53.3% vs 64.1% today).
- Debt is not well covered by operating cash flow (11.8%, less than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 5.5x coverage).
Financial health checks
We assess Mapletree Logistics Trust's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Mapletree Logistics Trust has a total score of 1/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is Mapletree Logistics Trust's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Mapletree Logistics Trust
shares you are expected to receive
$111
in your first year as a dividend.
Dividend Amount
- Mapletree Logistics Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
- Mapletree Logistics Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.69%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 14 Analyst Estimates (S&P Global) | See Below |
| United States of America REITs Industry Average Dividend Yield | Market Cap Weighted Average of 184 Stocks | 3.9% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2000 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in SGD) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2024-03-31 | 0.08 | 1.00 |
| 2023-03-31 | 0.08 | 1.00 |
| 2022-03-31 | 0.08 | 6.00 |
| 2021-03-31 | 0.08 | 16.00 |
| 2020-03-31 | 0.08 | 13.00 |
| Date (Data in SGD) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-04-26 | 0.081 | 5.461 |
| 2019-01-21 | 0.080 | 5.662 |
| 2018-04-26 | 0.076 | 6.088 |
| 2017-06-28 | 0.074 | 5.969 |
| 2017-04-27 | 0.074 | 6.411 |
| 2016-06-29 | 0.074 | 7.010 |
| 2016-04-29 | 0.074 | 7.471 |
| 2015-06-25 | 0.075 | 7.407 |
| 2015-04-20 | 0.075 | 6.368 |
| 2014-07-21 | 0.076 | 6.383 |
| 2014-05-30 | 0.076 | 6.507 |
| 2013-07-24 | 0.069 | 6.449 |
| 2013-04-17 | 0.069 | 5.735 |
| 2012-07-19 | 0.068 | 6.000 |
| 2012-07-09 | 0.068 | 6.816 |
| 2012-04-19 | 0.068 | 6.993 |
| 2012-01-19 | 0.068 | 7.444 |
| 2011-10-20 | 0.068 | 7.932 |
| 2011-10-17 | 0.068 | 7.977 |
| 2011-07-21 | 0.064 | 7.376 |
| 2011-04-21 | 0.062 | 6.786 |
| 2011-03-09 | 0.062 | 6.910 |
| 2011-01-20 | 0.062 | 6.634 |
| 2010-10-22 | 0.062 | 6.629 |
| 2010-01-21 | 0.059 | 7.068 |
| 2009-07-23 | 0.059 | 8.387 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
Mapletree Logistics Trust's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are covered by earnings (1.8x coverage).
- Dividends after 3 years are expected to be thoroughly covered by earnings (3225.8x coverage).
Income/ dividend checks
We assess Mapletree Logistics Trust's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Mapletree Logistics Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Mapletree Logistics Trust has a total score of 6/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | SGD0 |
| AGE | 48 |
| TENURE AS CEO | 6.8 years |
CEO Bio
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 Vietnam at Mapletree Investments Pte Ltd. She served as Senior Vice President of Investments (New Markets) at Mapletree Investments Pte Ltd. She served as the Chief Investment Officer of Southeast Asia of the Sponsor, Mapletree Investments Pte Ltd., where she was responsible for managing the acquisitions, development and operations of the Sponsor’s investment portfolio in the region. She joined Mapletree Investments in June 2007. Ms. Ng has over 19 years of experience in real estate and investment. She was employed with Temasek Holdings (Private) Limited for five years, where she managed private equity fund investments. She served as Vice President at the CapitaLand group, where she was responsible for real estate investments and cross-border mergers and acquisitions activities in Southeast Asia and Europe. She started her career in ST Aerospace. She has been an Executive Director of Mapletree Logistics Trust Management Ltd., Manager of Mapletree Logistics Trust since October 2, 2012. She serves as a Director of CIMB-Mapletree Management Sdn. Bhd., Carrymell (M) Sdn. Bhd., Dooil (Korea) Pte. Ltd., Genright Investment Limited, Greatdeal Finance Limited, Guangzhou Mapletree Eastern American Log Limited, Iljuk (Korea) Pte. Ltd., Jungbu Jeil (Korea) Pte. Ltd., Kingston (Korea) Pte. Ltd., Mapletree Emerald (HKSAR) Limited, • Mapletree First Warehouse (Vietnam) Co., Ltd., Mapletree Logistics Park Bac Ninh Phase 1 (Vietnam) Co., Ltd., Mapletree Logistics Park Bac Ninh Phase 2 (Vietnam) Co., Ltd., Mapletree Logistics Park Bac Ninh Phase 3 (Vietnam) Co., Ltd., Mapletree Logistics Park Bac Ninh Phase 4 (Vietnam) Co., Ltd., Mapletree Logistics Park Bac Ninh Phase 5 (Vietnam) Co., Ltd., Mapletree Logistics Park Phase 1 (Vietnam) Co., Ltd., Mapletree Logistics Park Phase 2 (Vietnam) Co., Ltd., Mapletree Logistics Park Phase 3 (Vietnam) Co., Ltd., Mapletree Logistics Park Phase 4 (Vietnam) Co., Ltd., Mapletree Logistics Park Phase 5 (Vietnam) Co., Ltd., Mapletree Logistics Park Phase 6 (Vietnam) Co., Ltd., Mapletree Logistics Warehouse (Xian) Co., Ltd., Mapletree Opal Ltd., Mapletree Shunyi (Beijing) (HKSAR) Limited, Mapletree Shunyi (Beijing) Ltd., Mapletree Tianjin Free Port Development (HKSAR) Limited, Mapletree Tianjin Free Port Development Ltd., Mapletree Topaz Ltd., Mapletree VSIP 1 Warehouse (Cayman) Co. Ltd., Mapletree VSIP 2 Phase 3 (Cayman) Co. Ltd., Mapletree VSIP 2 Phase 4 (Cayman) Co. Ltd., Mapletree VSIP 2 Phase 5 (Cayman) Co. Ltd., Mapletree VSIP 2 Phase 6 (Cayman) Co. Ltd., Mapletree VSIP Bac Ninh Phase 1 (Cayman) Co. Ltd., Mapletree VSIP Bac Ninh Phase 2 (Cayman) Co. Ltd., Mapletree VSIP Bac Ninh Phase 3 (Cayman) Co. Ltd., Mapletree VSIP Bac Ninh Phase 4 (Cayman) Co. Ltd., Mapletree VSIP Bac Ninh Phase 5 (Cayman) Co. Ltd., Mapletree WND (Wuxi) (HKSAR) Limited, MapletreeLog (M) Holdings Sdn. Bhd., MapletreeLog AIP (Guangzhou) (HKSAR) Limited, MapletreeLog AIP (Guangzhou) Ltd., MapletreeLog Dooil Co., Ltd., MapletreeLog First Korea (Yujoo) Co., Ltd., MapletreeLog Greatdeal Ltd., MapletreeLog GTC (HKSAR) Ltd., MapletreeLog Gyoda (Japan) (HKSAR) Limited, MapletreeLog Haisan (Shanghai) Ltd., MapletreeLog Himawari Pte. Ltd., MapletreeLog Iljuk Korea Co., Ltd., MapletreeLog Integrated (Shanghai) (Cayman) Ltd., MapletreeLog Integrated (Shanghai) (HKSAR) Limited, MapletreeLog Integrated (Shanghai) Co., Ltd., MapletreeLog Jinda Warehouse (Shanghai) Co., Ltd., MapletreeLog Jungbu Jeil Co., Ltd., MapletreeLog Kingston Co., Ltd., MapletreeLog Korea (Yongin) Co., Ltd., MapletreeLog Malaysia Holdings Pte. Ltd., MapletreeLog MQ (Korea) Pte. Ltd., MapletreeLog Miyang Co., Ltd., MapletreeLog Northwest (Shanghai) (HKSAR) Limited, MapletreeLog Northwest (Shanghai) Ltd., MapletreeLog Oakline (Korea) Pte. Ltd., MapletreeLog Ouluo (Shanghai) Ltd., MapletreeLog PF (HKSAR) Ltd., MapletreeLog Pyeongtaek Co., Ltd., MapletreeLog Sakura Pte. Ltd., MapletreeLog Seastar (Xian) (HKSAR) Limited, MapletreeLog Seastar (Xian) Ltd., MapletreeLog ST (HKSAR) Ltd., MapletreeLog Treasury Company (HKSAR) Ltd., MapletreeLog Treasury Company Pte. Ltd., MapletreeLog VSIP 1 Warehouse Pte. Ltd., Maypex Ventures Sdn. Bhd., Miyang (Korea) Pte. Ltd., Momiji 1 Ltd., Momiji 2 Ltd., Pancuran Baiduri Sdn. Bhd., Pyeongtaek (Korea) Pte. Ltd., Tianjin Port Haifeng Bonded Logistics Co., Ltd. and Zentraline Sdn. Bhd. She has several years of investment and real estate experience. Ms. Ng holds a Masters in Engineering as well as a Bachelor Degree (First Class Honours) in Aeronautical Engineering from Imperial College of Science & Technology, University of London.
CEO Compensation
- Insufficient data for Kiat to compare compensation growth.
- Kiat's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure of the Mapletree Logistics Trust management team in years:
- The average tenure for the Mapletree Logistics Trust management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Kiat Ng
CEO & Executive Director of Mapletree Logistics Trust Management Ltd.
48
6.8 yrs
Ivan Lim
Chief Financial Officer of Mapletree Logistics Trust Management Ltd.
42
2.4 yrs
Lum May
Vice President of Investor Relations
8.3 yrs
Danny Sim
Head of India for Mapletree Logistics Trust Management Ltd
Wee Tan
Head of Group Development Management of Mapletree Investments Pte Ltd
Say Foo
Head of Group Property Management - Mapletree Investments Pte Ltd
Kwong Weng Wan
Joint Company Secretary of Mapletree Logistics Trust Management Ltd
Hui Hui See
Joint Company Secretary of Mapletree Logistics Trust Management Ltd
7.9 yrs
Shimazu Yuko
General Manager of Japan - Mapletree Logistics Trust Management Ltd
Khian Ong
General Manager of China - Mapletree Logistics Trust Management Ltd
Board of Directors Tenure
Average tenure and age of the Mapletree Logistics Trust board of directors in years:
- The tenure for the Mapletree Logistics Trust board of directors is about average.
Board of Directors
Chong Kwee Lee
Non-Executive Chairman of Mapletree Logistics Trust Management Ltd
SGD123K
61
2.8 yrs
Kiat Ng
CEO & Executive Director of Mapletree Logistics Trust Management Ltd.
48
6.6 yrs
Penny Goh
Lead Independent Non-Executive Director of Mapletree Logistics Trust Management Ltd.
SGD93K
65
3.3 yrs
Joo Lim
Independent Non-Executive Director of Mapletree Logistics Trust Management Ltd.
SGD99K
64
2.3 yrs
Yoon Khong Hiew
Non-Executive Director of Mapletree Logistics Trust Management Ltd.
57
14 yrs
Tiow Chye Chua
Non-Executive Director of Mapletree Logistics Trust Management Ltd.
59
14.3 yrs
Mun Hoong Wong
Non-Executive Director of Mapletree Logistics Trust Management Ltd.
52
12.8 yrs
Siew Kim Wee
Independent Non-Executive Director of Mapletree Logistics Trust Management Ltd.
SGD83K
58
6.1 yrs
Tarun Kataria
Independent Non-Executive Director of Mapletree Logistics Trust Management Ltd.
SGD80K
60
5.7 yrs
Wah Yeow Tan
Independent Non-Executive Director of Mapletree Logistics Trust Management Ltd.
SGD40K
56
1.5 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by Mapletree Logistics Trust insiders in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 14. Mar 19 | Buy | Yoon Khong Hiew | Individual | 06. Mar 19 | 06. Mar 19 | 93,643 | $0.97 | $90,858 | ||
| 08. Mar 19 | Buy | DBS Group Holdings Limited, Asset Management Arm | Company | 01. Mar 19 | 01. Mar 19 | 1,690,100 | $1.03 | $1,744,312 | ||
| 07. Nov 18 | Sell | Siew Kim Wee | Individual | 05. Nov 18 | 05. Nov 18 | -80,000 | $0.87 | $-69,815 | ||
| 07. Nov 18 | Buy | Siew Kim Wee | Individual | 02. Nov 18 | 02. Nov 18 | 80,000 | $0.88 | $70,398 | ||
| 03. Oct 18 | Buy | DBS Group Holdings Limited, Asset Management Arm | Company | 28. Sep 18 | 28. Sep 18 | 1,800,000 | $0.89 | $1,593,643 | ||
| 03. Oct 18 | Buy | DBS Group Holdings Limited, Asset Management Arm | Company | 26. Sep 18 | 26. Sep 18 | 500,000 | $0.91 | $454,229 | ||
Management checks
We assess Mapletree Logistics Trust's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Mapletree Logistics Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
Company Info
Description
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 March 2019, it has a portfolio of 141 logistics assets in Singapore, Hong Kong, Japan, China, Australia, South Korea, Malaysia and Vietnam. The total value of assets under management is S$8.0 billion. MLT is managed by Mapletree Logistics Trust Management Ltd., a wholly-owned subsidiary of Mapletree Investments Pte Ltd.
Details
| Name: | Mapletree Logistics Trust |
| MAPG.F | |
| Exchange: | OTCPK |
| Founded: | 2004 |
| SGD3,843,121,414 | |
| 3,624,984,790 | |
| Website: | http://www.mapletreelogisticstrust.com |
| Address: |
Mapletree Logistics Trust 10 Pasir Panjang Road, No. 13-01 Mapletree Business City, Singapore, 117438, Singapore |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| SGX | M44U | Trust Units | Singapore Exchange | SG | SGD | 28. Jul 2005 | |
| OTCPK | MAPG.F | Trust Units | Pink Sheets LLC | US | USD | 28. Jul 2005 |
Number of employees
Current staff
Industry
| Industrial REITs | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/20 02:17 |
| End of day share price update: | 2019/05/15 00:00 |
| Last estimates confirmation: | 2019/05/14 |
| Last earnings filing: | 2019/04/26 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2019/03/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
