Mapletree Logistics Trust: The Good And The Bad

2025-03-14 16:23:38 ET

Summary

• My Hold rating for Mapletree Logistics Trust is unchanged, as there are both favorable and negative factors associated with the name.
• It's good that the REIT is executing well on capital recycling, and risks relating to asset write-offs will be less of a concern going forward.
• But the prospects for some of its markets are poor, and MAPGF is expecting a higher cost of debt in the new fiscal year.

I continue to have a neutral opinion of Mapletree Logistics Trust ( MAPGF ) (M44U.SI). My prior March 22, 2024 write-up drew attention to the reshaping of its asset base and the REIT's geographic split. The risk-reward for MAPGF as an investment is still fairly balanced, taking into consideration recent happenings involving the stock and the industry....

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