ME8U.SI
SGX50SESMapletree Industrial Trust
Real Estate · REIT - Industrial · Singapore
Mapletree Industrial Trust is a real estate investment trust (REIT) listed on the Main Board of Singapore Exchange. Its principal investment strategy is to invest in a diversified portfolio of income-producing real estate used primarily for industrial purposes in Singapore and income producing real estate used primarily as data centres worldwide beyond Singapore, as well as real estate-related assets. As at 31 March 2026, MIT's total assets under management was S8.3 billion dollar, which comprised 55 properties in North America (including 13 data centres held through the joint venture with Mapletree Investments Pte Ltd), 79 properties in Singapore and two properties in Japan. MIT's property portfolio includes Data Centres, Hi-Tech Buildings and Business Space and General Industrial Buildings. MIT is managed by Mapletree Industrial Trust Management Ltd. and sponsored by Mapletree Investments Pte Ltd. Mapletree Industrial Trust was incorporated in 2008 in Singapore.
www.mapletreeindustrialtrust.com ↗Shares trade at a premium 27.7× trailing earnings, easing to 15.9× on forward estimates. Profitability shows a net margin of 32.9% and return on equity of 4.2%. Leverage is high at 5.1× net debt/EBITDA. Revenue grew -8.0% year-on-year. It yields 6.7% in dividends. The mean analyst target of SGD2.02 sits 4.1% above the current price (Hold, 15 analysts).
business model
Mapletree Industrial Trust (MIT) is an industrial REIT sponsored by Mapletree Investments (Temasek-owned), with a portfolio that combines Singapore industrial assets and a substantial data-centre presence in North America. Singapore holdings include business parks, flatted factories, hi-tech buildings, stack-up/ramp-up buildings and light industrial properties, while overseas exposure is centred on data centres. As a Singapore REIT it distributes at least 90% of taxable income to unitholders from rental income.
revenue segments
Rental income is split between Singapore industrial property types (hi-tech buildings, business parks, flatted factories, and other industrial) and data centres, with data centres (largely in North America) forming a large share of assets under management. Hi-tech buildings and data centres together represent a growing, higher-value portion of the portfolio.
key dependencies
Performance depends on Singapore industrial occupancy and reversions, and increasingly on data-centre demand, tenant credit quality and power/operational dynamics. US-dollar exposure from North American data centres affects distributions, and interest rates drive funding costs and valuations. The Mapletree sponsor pipeline and asset redevelopment support growth.
competitors
It competes with CapitaLand Ascendas REIT, Keppel DC REIT (in data centres), Frasers Logistics & Commercial Trust and ESR-REIT, as well as with private industrial and data-centre owners for tenants and acquisitions.
moat
Advantages include a large diversified Singapore industrial footprint, meaningful exposure to structurally growing data centres, a strong Temasek-linked sponsor, and redevelopment capability that lifts asset value. Scale and sponsor support provide funding and pipeline benefits.
risks
Data-centre tenant concentration and any single-tenant credit stress are notable risks, alongside US-dollar currency exposure. Rising interest rates raise financing costs and can compress valuations, and older Singapore flatted-factory assets face reversion and obsolescence risk; equity raising for acquisitions can dilute unitholders.
Financials & metrics
as of 04 Jul 2026Tap any metric for an explanation.● provider● computedN/A not available from source
Dividends
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.