Stock Analysis: Mapletree Ind Trust

Mapletree Industrial Trust recommends buying, with a target price of SGD 2.71 and a closing price of SGD 2.21. The distribution per unit for the third quarter increased by 1.5% year-on-year to 3.41 cents, with performance meeting expectations. Revenue and net property income grew by 2.0% and 2.6% year-on-year, respectively, benefiting from the Osaka data center and newly acquired facilities in Tokyo. The distribution per unit for the first nine months increased by 1.4% year-on-year to 10.21 cents, reaching 75.5% of the full-year distribution forecast. The occupancy rate decreased by 0.8 percentage points quarter-on-quarter to 92.1%