Mapletree Industrial Trust Likely Faces Some Headwinds
Dow Jones
Jul 29
0326 GMT - Mapletree Industrial Trust likely faces some headwinds, OCBC Group Research's Andy Wong says in a research report. Given the uncertain macroeconomic environment and near-term pressures on the REIT's occupancy, OCBC adopts a more cautious stance toward the REIT. The REIT will have to refresh its portfolio amid worries over the age and quality of its data centers in North America, the analyst says. Also, the REIT's growth outlook has been dampened by interest-rate headwinds partly owing to the replacement of interest-rate swaps which are expected to put downward pressure on distributions. OCBC lowers the unit's fair value estimate to 1.97 Singapore dollars from 2.10 Singapore dollars, and maintains a hold rating. Units are unchanged at S$1.94.
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