Mapletree Industrial Trust reports 1.5% increase in DPU to 3.41 cents for 3QFY2024

SINGAPORE: On Jan 22, Mapletree Industrial Trust (MIT) announced a distribution per unit (DPU) of 3.41 cents for its third quarter (3QFY2025) from October 1, 2024 to December 31, 2024.

This is a 1.5% increase from last year, supported by income from its newly acquired freehold mixed-use facility in Tokyo. Unit-holders can expect their distribution on March 14.

For the same period, gross revenue also rose by 2% year-on-year (YoY) to S$177.3 million, while net property income (NPI) increased by 2.6% YoY to S$97.1 million.

The portfolio’s weighted average lease to expiry (WALE) was 4.5 years as of December 31, 2024, slightly up from 4.4 years at the end of the previous quarter, September 30, 2024.

Ler Lily, the manager’s CEO, said, “Despite the macroeconomic uncertainties, MIT continued to deliver healthy financial returns underpinned by our steady portfolio rebalancing initiatives in Japan and resilient operational performance. We remain committed to enhancing the resilience of our portfolio through proactive capital management and tenant retention while executing our growth strategy through accretive acquisitions and selective divestment of non-core assets.”

The Edge Singapore reported that Mapletree Industrial Trust closed at S$2.21 on Wednesday, Jan 22, falling 1.34% for the day and 10.16% over the past year. /TISG

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