OCBC Investment Research has maintained its ‘hold’ rating on Singapore-listed industrial REIT and retained a fair value estimate of SGD1.14 on the security.
The rating and estimate was published in a Market Pulse report published 25 May. It was published following an announcement by the REIT on 22 May that it was acquiring two industrial properties in Vietnam and South Korea for a total consideration of SGD42 million.
“The acquisitions are not expected to have a material impact on our forecasts”, said OCBC Research in its report. “Hence, we maintain ‘Hold’ and SGD1.14 fair value estimate on Mapletree Logistics Trust”, it added.
Units of the REIT are currently listed on the Singapore Exchange at SGD1.21.