Distribution will be paid on March 14

Mapletree Industrial Trust has reported a distribution per unit of 3.41 cents for its 3QFY2025 ended Dec 31 2024, up 1.5% y-o-y, thanks to contribution from its newly-bought freehold mixed-use facility in Tokyo.

Distribution will be paid on March 14.

Gross revenue in the same period was up 2% y-o-y to $177.3 million while net property income was up 2.6% y-o-y to $97.1 million. 

Its portfolio's weighted average lease to expiry as at Dec 31 2024 was 4.5 years, a slight increase from 4.4 years as at the preceding quarter ended Sept 30 2024.

“Despite the macroeconomic uncertainties, MIT continued to deliver healthy financial returns underpinned by our steady portfolio rebalancing initiatives in Japan and resilient operational performance," says Ler Lily, CEO of the manager.

"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 divestments of non-core assets," she adds.

Mapletree Industrial Trust units closed at $2.21 on Jan 22, down 1.34% for the day and down 10.16% in the past year.