Mapletree Logistics Trust (MLT, SGX:M44U) is Singapore's first Asia Pacific-focused Logistics REIT. While focused on logistics assets, MLT is quite diversified in terms of geographical regions, boasting assets from 9 different countries/regions. This post will be broken down into the following segments:
- Portfolio Overview
- Key Financial Metrics/Trend
- Occupancy and Leases
- Recent Moves/Pipeline
- Outlook
- Thoughts
- Portfolio Overview
As at 31st March, MLT has asset presence in 9 regions, with the top 3 (Singapore, Hong Kong, China) accounting for 65.2% of the portfolio in terms of AUM. Below shows a table of number of properties, split by countries.
- Key Financial Metrics/Trend
Both Gross Revenue and Net Property Income (NPI) grew at a steady rate, maintaining a relatively constant margin. It is worth noting that MLT's managed to keep growing in most metrics even through the pandemic, partially due to new acquisitions, but also because logistics are relatively defensive in view of a pandemic.
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