The first earnings season for 2024 has begun, and Mapletree Logistics Trust (SGX: M44U), or MLT, is one of the first REITs to report its financial results. Once again, the industrial REIT did not disappoint. For its fiscal 2024’s third quarter (3Q FY2024) ending 30 September 2023, MLT not only posted a year-on-year rise in its distribution per unit (DPU) but also reported strong operating metrics along with a slew of capital recycling initiatives. Here are five highlights from the logistics REIT’s latest earnings that investors should take note of.

1. DPU continues to rise

For 3Q FY2024, MLT’s gross revenue inched up 2.1% year on year to S$184 million while net property income edged up 1.5% year on year to S$159.5 million. The better performance was attributed to higher contributions from existing properties in Singapore along with contributions from the acquisition of nine properties in Japan, South Korea, and Australia carried out in 1Q FY2024....