---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000916872.md"
description: "$Mapletree Log Tr(M44U.SG)Mapletree Logistics Trust: Is the Turnaround Taking Shape?Mapletree Logistics Trust (MLT) had a softer FY2026, but the underlying business remains fairly steady. Revenue slipped 2.6% to S$708.3m, NPI fell 2.4% to S$610.2m, while DPU declined 3.4% to 7.262 cents, excluding divestment gains. Occupancy remains strong at 96.9%, rental reversions are positive and gearing at 40.6% remains manageable.Valuation is becoming more interesting. At around S$1.15–1.18, MLT trades at roughly 0.9x NAV of S$1.26 per unit, with an estimated 6.3–6.5% distribution yield.Technically, the picture remains mixed. The unit price is below its 50-day and 200-day moving averages, while an RSI around 52 suggests the counter is neither overbought nor oversold.The Australian divestment at A$28m, 3.7% above valuation, is a constructive development. Recycling weaker or non-core assets could strengthen the balance sheet and free up capital for higher-quality logistics opportunities.The key question now is whether asset recycling can translate into stronger DPU growth and renewed investor confidence. Divestments may help, but the longer-term catalyst remains sustainable earnings and distribution growth.Not financial advice."
datetime: "2026-09-29T00:20:20.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000916872.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000916872.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000916872.md)
author: "[FaithAnchor](https://longbridge.com/en/profiles/24833348.md)"
generator: "portal-rs"
---

# $Mapletree Log Tr(M44U.SG)Mapletree Logistics Trus…


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## Comments (2)

- **Captain Leo · 2026-10-01T02:19:50.000Z · 👍 1**: Second Star Creator Program pick this week. Asking whether MLT's asset recycling can actually lift DPU, rather than cheering each divestment, is what makes a turnaround read worth following. Task coins have been credited.
- **Bond · 2026-09-29T02:15:15.000Z · 👍 1**: that dpu fall needs splitting into currency and operating, a large share of the assets sit offshore so the hedge ratio decides how much of the decline is actually the business.


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**