Data from Mapletree Logistics Trust’s latest results have been updated into the Singapore REITs table.
Mapletree Logistics Trust’s (MLT’s) amount distributable to unitholders for 3Q FY20/21 rose 10.2% year-on-year to SGD84.4 million.
This translates to a DPU of 2.065 cents on an enlarged unit base, an increase of 1% year-on-year.
Gross revenue for 3Q FY20/21 increased 15.5% year-on-year to SGD139.9 million.
This was mainly due to higher revenue from existing properties, contributions from acquisitions, as well as contribution from the completed redevelopment project in Shanghai, Ouluo Logistics Park Phase 2.
However, overall revenue growth was partly offset by rental rebates granted to eligible tenants who were impacted by COVID-19 and the absence of contribution from a property divested in FY19/20.
Accordingly, net property income rose 14.9% year-on-year to SGD124.7 million.
Portfolio occupancy stood at 97.1% as at 31 December 2020, while the weighted average lease expiry (by net lettable area) of the portfolio is about 3.7 years.
The REIT’s full statement on the results can be viewed here.
MLT was last done on the SGX at SGD2.02, which implies a distribution yield of 4.09% according to data compiled on the Singapore REITs table.