Mapletree Logistics Trust (SGX: M44U), or MLT, is the third and final Mapletree REIT to report its fiscal 2024 (FY2024) earnings ending 31 March 2024. Last week, Mapletree Industrial Trust (SGX: ME8U) and Mapletree Pan Asia Commercial Trust (SGX: N2IU) both reported a year-on-year increase in their distribution per unit (DPU) for the fourth quarter of FY2024 (4Q FY2024). MLT, however, saw its DPU slip slightly for both 4Q FY2024 and FY2024 because of higher finance costs and a strong Singapore dollar. Here are five things that investors need to know about the logistics REIT’s latest earnings report.

A mixed set of results

For 4Q FY2024, MLT saw gross revenue inch up 1.2% year on year to S$181 million while net property income (NPI) edged up 0.6% year on year to S$155.3 million. The higher revenue was attributed to better contributions from existing properties coupled with acquisitions completed during the fiscal year....