$Mapletree Ind Tr(ME8U.SI)$ Ma-To The Moon - Tiger Brokers Online Investing Community - To The Moon

$Mapletree Ind Tr(ME8U.SI)$

Mapletree Industrial Trust (SGX: ME8U)[Call]

Mapletree Industrial Trust (MIT) invests in a diversified portfolio of industrial and data centre properties across Singapore, North America, and Japan.

As of 30-Oct-2024, MIT's portfolio comprises 140 properties valued at S$8.9 billion, with 56 located in North America, 83 in Singapore, and one in Japan.

In the second quarter of its fiscal year ending 31 March 2025 (2Q FY2025), MIT posted a 4.2% and 4.6% year-on-year increase in gross revenue and NPI to S$181.4 million and S$134.5 million respectively.

This growth was bolstered by contributions from a newly acquired data centre in Japan, and robust leasing activity across its portfolio.

MIT's distribution to unitholders also rose by 1.9% year on year to S$95.8 million, supported by higher NPI, but partially offset by an increase in borrowing costs from the Osaka Data Centre.

Average portfolio occupancy improved from 91.9% in the previous quarter to 92.9%, driven primarily by the full-quarter effect of a new lease commencement in North America.

MIT's financial position remains stable with an aggregate leverage of 39.1%, and an average borrowing cost of 3.2% as of 30 September 2024.

Approximately 80.4% of its borrowings are hedged at fixed rates, reflecting a prudent risk management approach.

For 2Q FY2025, MIT's DPU increased by 1.5% year on year to S$0.0337, supported by the higher NPI and the phased distribution of S$13.4 million in divestment gains from 115A & 115B Commonwealth Drive across the four quarters of FY2025.

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