Broker Name: OCBC Group Research
Date of Report: 30 July 2026
Excerpt from OCBC Group Research report.
Report Summary
1. Mapletree Logistics Trust (MLT SP)
Action: BUY
Target Price: SGD 1.34
Key Idea: MLT’s 1QFY27 (ending March 2027) DPU inched up 0.2% YoY to 1.816 Singapore cents, marking the first YoY growth after nine quarters of decline. Portfolio occupancy softened slightly, but rental reversions remained positive outside China, and capital recycling remains a focus. Three divestments announced post-quarter will see proceeds redeployed into Singapore and emerging Asian markets. The fair value estimate is trimmed from SGD 1.36 to SGD 1.34, but the BUY call is maintained.
2. CapitaLand India Trust (CLINT SP)
– Action: BUY
– Target Price: SGD 1.32
– Key Idea: CLINT’s 1H26 DPU rose 1% YoY to 4.00 Singapore cents, exceeding expectations despite FX headwinds. Portfolio committed occupancy is healthy at 91% with strong TTM rental reversions of +24%. Data centre handovers and development completions are on track. Gearing increased slightly but is balanced by lower taxes. The fair value estimate is raised to SGD 1.32, and the BUY recommendation is maintained.
3. Additional Actionable Insights
Other notable actionable BUY calls with target prices:
- CapitaLand Ascott Trust (CLAS SP): BUY, Target Price SGD 0.950
- Keppel Infrastructure Trust (KIT SP): BUY, Target Price SGD 0.575
- Frasers Centrepoint Trust (FCT SP): BUY, Target Price SGD 2.43
- Keppel DC REIT (KDCREIT SP): BUY, Target Price SGD 2.86
- Parkway Life REIT (PREIT SP): BUY, Target Price SGD 4.80
- OUE REIT (OUEREIT SP): BUY, Target Price SGD 0.410
- China State Construction Intl (3311 HK): BUY, Target Price HKD 9.18
- China Railway Group (390 HK / 601390 CH): BUY, Target Price HKD 4.19 / CNY 5.45
Implications: The focus is on stable and growing income for select REITs and trusts, with tactical capital recycling and currency management driving performance. Recommendations emphasize sectors with robust operational performance and healthy rental reversions, especially in logistics, commercial, and infrastructure assets. Investors should consider these BUY-rated names for potential upside, guided by the specified target prices.
Above is an excerpt from a report by OCBC Group Research. Clients of OCBC Group Research can access the full research report from the broker’s website.
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