Mapletree Industrial Trust's Credit Metrics Look Strong -- Market Talk

Dow Jones04-30

0724 GMT - Mapletree Industrial Trust's credit metrics look strong, OCBC Investment Research's Research Team says in a report, noting the REIT's aggregate leverage ratio stood at a healthy 38.7% in 4Q FY 2024. The REIT's proportion of debt hedged also rose by 5.1 percentage points on-quarter to 84.6%, which would offer some buffer in a "higher for longer" rate environment, the team says. Moreover, management said that the REIT will distribute around S$13 million of divestment gains over four quarters in FY 2025, the team adds. OCBC raises the REIT's fair value estimate to S$2.71 from S$2.69 to reflect a rolling forward of valuations. Units are unchanged at S$2.25. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

April 30, 2024 03:24 ET (07:24 GMT)

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