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Brokers' take

Published Tue, Oct 25, 2016 · 09:50 PM

Mapletree Logistics Trust | Hold

Target price: S$1.05

Oct 25 close: S$1.055

OCBC Investment Research, Oct 25

MAPLETREE Logistics Trust's (MLT) 2QFY17 results came in within expectations. Operationally, MLT managed to improve its occupancy from 95.4 per cent (as at June 30, 2016) to 96.4 per cent.

However, looking ahead, management expects the leasing environment to remain challenging. We factor in MLT's recently acquired Vietnamese property in our model and also update the timeline of its acquisitions in Australia and Malaysia (completed earlier than we expected). Consequently, our DPU forecasts for FY17 and FY18…