Mapletree Industrial Trust Set to Benefit From Asset Acquisition in Japan -- Market Talk

Dow Jones10-07

0244 GMT - Mapletree Industrial Trust stands to benefit from its acquisition of mixed-use facility in West Tokyo, Japan, UOB Kay Hian analyst Jonathan Koh says in a research report, as the brokerage raises the unit's target price to S$3.05 from S$3.03 with an unchanged buy rating. The property has potential to be redeveloped into multi-storey core and shell data center with capacity for 30-40 megawatts of IT workload at a cost of S$200 million-S$300 million, and this redevelopment could enhance yield on cost to 5.5%-6.0%, the analyst says. The brokerage raises its FY 2026 distribution-per-unit forecast for the REIT by 0.6%. Units are 1.2% lower at S$2.48. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

October 06, 2024 22:44 ET (02:44 GMT)

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The property has potential to be redeveloped into multi-storey core and shell data center with capacity for 30-40 megawatts of IT workload at a cost of S$200 million-S$300 million, and this redevelopment could enhance yield on cost to 5.5%-6.0%, the analyst says. The brokerage raises its FY 2026 distribution-per-unit forecast for the REIT by 0.6%. Units are 1.2% lower at S$2.48. 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