It has been a tough earnings reporting season for the REIT sector thus far. Both Keppel DC REIT (SGX: AJBU) and Mapletree Logistics Trust (SGX: M44U), or MLT, reported flat year on year distribution per unit (DPU). Keppel DC REIT saw a 73.4% year on year surge in finance costs for the first half of 2023 while MLT reported a 13.4% year on year jump in borrowing costs for its latest fiscal 2024’s first quarter (1Q FY2024). The jump is caused by the sharp rise in interest rates caused by the US Federal Reserve’s continuous rate hikes. Mapletree Industrial Trust (SGX: ME8U), or MIT, was also a victim of higher borrowing costs. The REIT reported a slight year-on-year dip in DPU for 1Q FY2024 amid a tough environment. Here are five highlights from the industrial REIT’s latest earnings report.

1. A respectable set of financial numbers

Considering the twin challenges of elevated inflation and high interest rates, MIT pulled off a respectable...