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Mapletree Industrial Trust Analysis @ 30 July 2020
By REIT-TIREMENT  •  July 30, 2020
Basic Profile & Key Statistics Mapletree Industrial Trust (MIT) mainly invests in industrial properties. Its portfolio includes data centres and business parks as well. Lease Profile Occupancy is slightly low at 91.1%. WALE is moderate at 4.2 years where the highest lease expiry of 18.6% falls in FY22/23. Weighted average land lease expiry is short at 46.83 years, which is normal for 100% Singapore properties. Debt Profile Gearing ratio of 38.8% is slightly high. Cost of debt of 2.6% is slightly low despite 100% unsecured debt. Fixed rate debt is high at 86.3%. Interest Cover Ratio is high at 7.2 times. WADE is long at 3.9 years where the highest debt maturity of 26.1% falls in FY 24/25. Diversification Profile Based on the past 4 quarters gross revenue, 94.5% is from Singapore properties,  This figure would be reduced as MIT will have more contributions from the recent acquisition of data centres in US. MIT is diversified in terms of both properties and tenants. Its top property, top tenant, and top 10 tenants contribute 10.9%, 8.4% and 28.5% respectively....
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By REIT-TIREMENT
I am Vince and welcome to my blog. I started this blog on 1st January 2019. Since the start of my investment journey, I have been fond of REITs because of its dividends. REITs allowed you to become a property landlord and get rental income without having to fork out large sum of initial capital, look out for tenant as well as manage the properties ...
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