Mapletree Industrial Trust

Re: Mapletree Industrial Trust

Postby winston » Wed Oct 28, 2020 2:58 pm

not vested

MAPLETREE INDUSTRIAL TRUST (MINT SP)
Recommendation : BUY
Fair Value: SGD 3.51


MOVING IN THE RIGHT DIRECTION

2QFY21 DPU down marginally by 1.0% YoY
Looking to grow its data centres exposure
Increase FV by 8% to S$3.51

Mapletree Industrial Trust (MIT) has a sizeable portfolio of industrial assets in Singapore which includes Data Centres, Hi-Tech Buildings, Flatted Factories and Business Parks.

It also penetrated the U.S. and Canadian data centres market and thus offers investors a proxy to the fast-growing digitalisation and data outsourcing trends.

Although the macroeconomic outlook remains subdued, MIT’s solid financial position, high quality management team and strategy of scaling up its data centre exposure would allow it to better withstand the uncertainties ahead, in our view.

Source: OCBC
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Re: Mapletree Industrial Trust

Postby winston » Mon Feb 01, 2021 9:00 am

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Mapletree Industrial Trust (MINT SP)
3QFY21: MINTing Growth Through Data Centres


3QFY21 DPU grew 5.8% yoy due to full-quarter contribution from acquisition of the
remaining 60% stake in 14 data centres in the US (first JV), which was completed on
1 Sep 20.

Rental relief has also dropped 58.7% qoq to S$1.9m.

Potential acquisition of the remaining 50% stake in 13 data centres in North America (second JV) remains the main catalyst.

MINT provides exposure to growth from data centres at a decent FY22F distribution yield of 4.8%. Maintain BUY. Target price: S$3.45

Source: UOBKH

https://research.uobkayhian.com/content ... 0667c956c3
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Re: Mapletree Industrial Trust

Postby winston » Mon Feb 01, 2021 9:14 am

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Uptick in Singapore portfolio performance

3Q/9MFY3/21 DPU of 3.28/9.25 Scts is broadly within our expectations, at 26.8%/75.7% of our FY21F forecast.

Singapore portfolio occupancy rose to 92.2% while average rents grew 3.9% qoq.

Reiterate Hold with a DDM-based TP of S$3.03.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 48a88c3804
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Re: Mapletree Industrial Trust

Postby winston » Tue Feb 02, 2021 12:33 pm

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MAPLETREE INDUSTRIAL TRUST (MINT SP)

Recommendation : BUY
Fair Value : SGD 3.51
GROWTH RESUMES.

3QFY21 DPU grew 3.8% YoY
Portfolio occupancy up but rental reversions broadly negative
Healthy aggregate leverage ratio of 37.3%

Mapletree Industrial Trust (MIT) has a sizeable portfolio of industrial assets in Singapore which includes Data Centres, Hi-Tech Buildings, Flatted Factories and Business Parks.

It has also penetrated the U.S. and Canadian data centres market and thus offers investors a proxy to the fast-growing digitalisation and data outsourcing trends.

Although the macroeconomic outlook remains subdued, MIT’s solid financial position, high quality management team and strategy of scaling up its data centre and Hi-Tech exposure would allow it to better withstand the uncertainties ahead, in our view.

Source: OCBC
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Re: Mapletree Industrial Trust

Postby winston » Mon Mar 15, 2021 11:34 am

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Valuation

DCF Valuation. Target price of S$3.25 based on DCF.

This is based on a WACC of 6.0% (risk free of 2.0%).

We have not assumed acquisitions in our estimates.

Our TP assumes a target yield of close to 4.0%.

Source: DBS

https://www.dbs.com.sg/treasures/aics/s ... INT_SP.xml
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Re: Mapletree Industrial Trust

Postby winston » Wed Mar 31, 2021 9:57 am

Mapletree Industrial Trust (MINT SP)
MINTing Growth And Resiliency Through Data Centres


MINT is committed to its goal of allocating two-thirds of AUM to data centres.

It has to acquire at least S$1b worth of data centres per year over the next five years to realise its vision.

It has just completed the acquisition of another data centre in Richmond, Virginia and could move on to acquire the remaining 50% stake in a second data centre JV from Mapletree Investments in FY22.

MINT provides FY22 distribution yield of 5%, vs KDCREIT’s 4%.

Maintain BUY. Target price: S$3.50.

Source: UOBKH

https://research.uobkayhian.com/content ... d5a4660cc2
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Re: Mapletree Industrial Trust

Postby winston » Fri May 21, 2021 10:03 am

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Mapletree Industrial Trust (MINT SP)
Sizeable Acquisition To Reposition Towards The New Economy


MINT expanded the breadth and depth of its presence in the data centre market in North
America through its latest acquisition of 29 data centres which increased its exposure
to data centres by 12.4ppt to 53.6% of AUM.

The acquisition will provide income stability through its long WALE of 7.9 years.

We raised our FY23F DPU forecast by 3%.

MINT provides FY23 distribution yield of 5.2% vs KDCREIT’s 4%. Maintain BUY. Target
price: S$3.62.

Source: UOBKH

https://research.uobkayhian.com/content ... 8f5f3b8954
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Re: Mapletree Industrial Trust

Postby behappyalways » Tue May 25, 2021 2:08 pm

Mapletree Industrial Trust acquires 29 data centres in the US for US$1.3 bil
https://www.theedgesingapore.com/news/r ... s-us13-bil


Mapletree Industrial Trust closes $513 mil private placement, sets preferential offering issue price at $2.64
https://www.theedgesingapore.com/news/e ... eferential
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Re: Mapletree Industrial Trust

Postby behappyalways » Sun Jun 20, 2021 12:58 pm

Mapletree Industrial Trust to launch preferential offering of 118 mil new units at $2.64 per unit
https://www.theedgesingapore.com/news/r ... s-264-unit
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Re: Mapletree Industrial Trust

Postby winston » Thu Jun 24, 2021 1:25 pm

not vested

Mapletree Industrial Trust (MINT SP) - Deepening its data centre presence

Mapletree Industrial Trust (MIT) has a sizeable portfolio of industrial assets in Singapore which includes Data Centres, Hi-Tech Buildings, Flatted Factories and Business Parks.

It has also successfully penetrated the U.S. and Canadian data centres market and thus offers investors a proxy to the fast-growing digitalisation and data outsourcing trends.

Although the macroeconomic outlook remains subdued, MIT’s solid financial position, high quality management team and strategy of scaling up its data centre and Hi-Tech exposure would allow it to better withstand the uncertainties ahead, in our view. BUY.

Source: OCBC
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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