On 26 January 2023, Mapletree Industrial Trust (“MIT”) have announced third quarter results for FY2023. MIT results have shown that their business fundamentals continue to remain stable, providing investors with an ease of mind. I have compiled the key aspects of the REIT and everything seem to be in good order.

Interest coverage have decreased as well but it is not surprising given the current interest rate climate and it is consistent with other REITs across the board. MIT seems to have the sufficient financial resources to handle the increases for the next few years until interest rate starts to taper off.

Worth nothing that their DPU have dropped this quarter as well. Though it was not due to a poorer financial performance but from dilution when issuing new units for settlement of manager’s management fees and also the distribution reinvestment plan (“DRP”). This quarter will be the last DRP