gingwien avatar
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gingwien

A fairly detailed analysis of $Mapletree Log Tr(M44U.SI) for those interested in REIT investing.

We think that MLT it would provide fairly stable and predictable returns for unitholders. The downside risk for both stocks are also well managed. We like the fact that MLT has a strong sponsor with a healthy pipeline of assets to acquire to feed its growth. We also like the fact that its has long term leases with WALE of 3.9 years, a fairly diversified lease profile and a prudent management of foreign exchange risk.

But there are certainly risk in MLT to watch out for and guidance on valuations and entry prices which is covered in the article.

Feedback is welcomed!

https://www.probutterfly.com/blog/an-analy...

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bgting and goh6570 like this.
akwl88 :

Using a different approach, we used a 15-year discounted DPU modal with no terminal value. The DPU growth rate is estimated at 3.07% and we opt for a discount rate of 2.75% which is approximately the Singapore Savings Bond (SSB) long term interest rate. Based on this, we derive an intrinsic value of $1.144. Similarly, investors should invest only at a price below $1.144 so that there is a comfortable safety margin. aking the lower of the 2 estimated value of MLT’s share price, we think that investors should be conservative and invest only when the share price trades below $1.12 with a comfortable margin-of-safety. At time of writing, the share price is currently trading at $1.195.

gingwien :

Reply to @akwl88 : Thanks for re-posting the analysis from the article.

Let me know if you have any feedback or comments. Happy to hear where we can improve on the analysis.

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Dividend_Warrior

A brand new CD season for S-REITs is upon us again! Let the money roll in!

Results release dates:
$SPHREIT(SK6U.SI) - 12 July (DPU up: 1.37 cents)
$SoilbuildBizReit(SV3U.SI) - 13 July (DPU down: 1.466 cents)
$ESR-REIT(J91U.SI) - 13 July (DPU down: 0.956 cents)
$Kep Infra Tr(A7RU.SI) - 17 July (DPU flat: 0.93 cents)
$Keppel DC Reit(AJBU.SI) - 17 July (DPU up: 3.63 cents)
$First Reit(AW9U.SI) -17 July (DPU up: 2.14 cents)
$Keppel Reit(K71U.SI) - 18 July (DPU down: 1.42 cents)
$CapitaCom Trust(C61U.SI) - 19 July (DPU up: 2.27 cents)
$HPH Trust SGD(P7VU.SI) - 19 July (DPU down: HK$0.095)
$Ascott Reit(A68U.SI) - 20 July (DPU up: 3.356 cents)
$CapitaMall Trust(C38U.SI) - 21 July (DPU up: 2.75 cents)
$Cache Log Trust(K2LU.SI) - 21 July (DPU down: 1.8 cents)
$Ascendas-iTrust(CY6U.SI) - 24 July (DPU down: 1.31 cents)
$Frasers Cpt Tr(J69U.SI) - 24 July (DPU down: 3 cents)
$Frasers Com Tr(ND8U.SI) - 24 July (DPU flat: 2.4 cents)
$Mapletree Log Tr(M44U.SI) - 24 July (DPU up: 1.887 cents)
$Mapletree Ind Tr(ME8U.SI) - 25 July (DPU up: 2.92 cents)
$ParkwayLife Reit(C2PU.SI) - 25 July (DPU up: 3.32 cents)
$Sabana Reit(M1GU.SI) - 25 July (DPU down: 0.81 cents)
$Suntec Reit(T82U.SI) - 26 July (DPU flat: 2.493 cents)
$Viva Ind Tr(T8B.SI) - 26 July (DPU up: 1.86 cents)
$Ascendas Reit(A17U.SI) - 27 July (DPU up: 4.049 cents)
$AIMSAMP Cap Reit(O5RU.SI) - 27 July (DPU down: 2.50 cents)
$CapitaR China Tr(AU8U.SI) - 27 July (DPU flat: 5.36 cents)
$Frasers HTrust(ACV.SI) - 27 July (DPU down: 1.2374 cents)
$Mapletree Com Tr(N2IU.SI) - 27 July (DPU up: 2.23 cents)
$CDL HTrust(J85.SI) - 28 July (DPU down: 2.08 cents)
$Fortune Reit HKD(F25U.SI) - 28 July (DPU up: 25.53 HK cents)
$Frasers L&I Tr(BUOU.SI) - 28 July (*Advanced DPU: 1.84 cents)
$Mapletree GCC Tr(RW0U.SI) - 28 July (DPU flat: 1.851 cents)
$StarhillGbl Reit(P40U.SI) - 28 July (DPU down: 1.18 cents)
$OUE HTrust(SK7.SI) - 1 August (DPU up: 1.21 cents)
$OUE Com Reit(TS0U.SI) - 2 August (DPU down: 1.15 cents)
$Ascendas-hTrust(Q1P.SI) - 3 August (DPU up: 1.31 cents)
$EC World Reit(BWCU.SI) - 3 August (DPU up: 1.54 cents)
$Lippo Malls Tr(D5IU.SI) - 3 August (DPU up: 0.9 cents)
$RHT HealthTrust(RF1U.SI) - 3 August (DPU down: 1.22 cents)
$Far East HTrust(Q5T.SI) - 4 August (DPU down: 0.97 cents)
$ManulifeReit USD(BTOU.SI) - 8 August (AM)
$BHG Retail Reit(BMGU.SI) - 8 August
$IREIT Global(UD1U.SI) - 10 August
$Accordia Golf Tr(ADQU.SI) - 14 August
$Croesus RTrust(S6NU.SI) - 18 August (AM)

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marubozu
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