M44U.SI
SGX50SESMapletree Logistics Trust
Real Estate · REIT - Industrial · Singapore
Mapletree Logistics Trust, the first Asia Pacific-focused logistics REIT in Singapore, was listed on the SGX-ST Main Board on 28 July 2005. MLT's principal strategy is to invest in a diversified portfolio of income-producing logistics real estate and real estate-related assets. As at 31 March 2026, it has a portfolio of 174 properties in Singapore, Australia, China, Hong Kong SAR, India, Japan, Malaysia, South Korea and Vietnam with assets under management of S13.1 billion dollar. MLT is managed by Mapletree Logistics Trust Management Ltd., a wholly owned subsidiary of Mapletree Investments Pte Ltd. Mapletree Logistics Trust was incorporated in 2004 in Singapore.
www.mapletreelogisticstrust.com ↗Shares trade at a moderate 24.4× trailing earnings, easing to 19.7× on forward estimates. Profitability shows a net margin of 39.1% and return on equity of 3.9%. Leverage is high at 10.3× net debt/EBITDA. Revenue grew -1.7% year-on-year. It yields 5.7% in dividends. The mean analyst target of SGD1.39 sits 13.8% above the current price (Buy, 15 analysts).
business model
Mapletree Logistics Trust (MLT) is a pan-Asian logistics REIT sponsored by Mapletree Investments, which is owned by Temasek. It owns and leases modern warehouse and distribution facilities across the Asia-Pacific region, earning rental income from logistics and e-commerce tenants. As a Singapore REIT it distributes at least 90% of taxable income to unitholders, and its diversified, cross-border portfolio underpins regular distributions.
revenue segments
Revenue is rental income from logistics properties spread across markets including Singapore, China, Hong Kong, Japan, Australia, South Korea, Malaysia, Vietnam and India. The tenant base is diversified across third-party logistics providers, e-commerce and manufacturers, with income split between single-tenant and multi-tenant buildings.
key dependencies
Distributions depend on logistics occupancy, rental reversions and trade/e-commerce demand, and are sensitive to the significant currency exposure across many Asian markets (managed partly through hedging). Interest rates affect funding costs and valuations, and the Mapletree sponsor pipeline supports acquisition-led growth. Conditions in China, a meaningful part of the portfolio, are an important swing factor.
competitors
It competes with other logistics and industrial REITs and investors such as CapitaLand Ascendas REIT, Frasers Logistics & Commercial Trust, ESR-REIT and regional logistics platforms, as well as global institutional buyers of warehouse assets.
moat
The moat comes from broad regional scale and geographic diversification, exposure to structural e-commerce and supply-chain demand, modern well-located assets, and a strong Temasek-linked sponsor providing pipeline and development capability. Diversification reduces reliance on any single market.
risks
Wide currency exposure can erode distributions when Asian currencies weaken against the Singapore dollar, and China exposure adds economic and rental-reversion risk. Higher interest rates raise financing costs and pressure valuations, and the trust faces tenant concentration in some assets, lease expiries, and potential dilution from equity raisings.
Financials & metrics
as of 04 Jul 2026Tap any metric for an explanation.● provider● computedN/A not available from source
Dividends
This company does not currently pay a dividend.
Analyst assessment
as of 04 Jul 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.