Recall: Mapletree Industrial Trust (MIT) reported strong 3Q result last month and a few analysts had upgraded the target prices since then while maintaining their buy calls. From my record, target prices ranges from $1.24 to $1.35, with forecasted DPU of 8 to 8.7ct for fy12-13.
2 weeks ago, MIT successfully issued S$125 million 7-year fixed rate notes at 3.75% pa, to refinance part of a borrowing due later this year, thereby extending its debt maturity profile.
Last week, MIT did a Investor Presentation. (see the presentation slides here)
Share price continued to rise after XD on 1 Feb, hitting a high of $1.18 by end of Feb. Since then, price has been sliding down gradually and hit my price alert at $1.10 yesterday (Mar 20). I have traded this counter a few times, buying it when prices are below $1.10 and selling when it hit $1.15 and above.
To me, buying at $1.10 and below is a safe bet - I get a dividend yield of at least 7.2% (from an established REIT, who is majority owned by Temasek) while holding on to the shares and if prices moved up, I can cash out for capital gains!
As mentioned in my previous post "Trading REITs", this is another counter which you can 'safely trade'.
