Mapletree Pan Asia Commercial Trust Units Real Estate Investment Trust Reg N2IU

Morningstar Rating
SGD 1.51 −0.02 (1.31%)
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Company Report

Price vs Fair Value

N2IU is trading at a 114% premium.
Price
SGD 1.51
Fair Value
SGD 9.66
Uncertainty
Medium
1-Star Price
SGD 3.57
5-Star Price
SGD 2.22
Economic Moat
Xldn
Capital Allocation
Vfdybvxg

Bulls Say, Bears Say

Bulls

Office workers fully returning to offices would result in higher demand for MPACT's office space.

Bears

Interest rates staying higher for longer, resulting in higher financing costs and cost of capital, making it harder for the trust to identify yield-accretive acquisitions and grow distributions per unit.

Trading Information

Previous Close Price
SGD 1.53
Day Range
SGD 1.501.54
52-Week Range
SGD 1.181.58
Bid/Ask
SGD 1.50 / SGD 1.51
Market Cap
SGD 7.94 Bil
Volume/Avg
18.7 Mil / 16.9 Mil

Key Statistics

Price/Earnings (Normalized)
13.11
Price/Sales
8.86
Dividend Yield (Trailing)
5.84%
Dividend Yield (Forward)
5.84%
Total Yield
5.84%

Company Profile

Mapletree Pan Asia Commercial Trust was established in July 2022 as a result of the merger between Mapletree Commercial Trust and Mapletree North Asia Commercial Trust. The trust has a diversified portfolio of 18 properties, which includes business parks, offices and retail malls across Singapore, Hong Kong, China, Japan, and South Korea. The trust is externally managed by MPACT Management, a subsidiary of its sponsor, which owns around a 56% stake in the trust.
Sector
Real Estate
Industry
REIT - Office
Stock Style Box
Large Value
Total Number of Employees
447

Competitors

Valuation

Metric
N2IU
C38U
T82U
Price/Earnings (Normalized)
13.1118.0828.76
Price/Book Value
0.861.000.63
Price/Sales
8.869.028.34
Price/Cash Flow
15.8219.2814.47
Price/Earnings
N2IU
C38U
T82U

Financial Strength

Metric
N2IU
C38U
T82U
Quick Ratio
0.150.120.37
Current Ratio
0.170.120.43
Interest Coverage
2.983.342.20
Quick Ratio
N2IU
C38U
T82U

Profitability

Metric
N2IU
C38U
T82U
Return on Assets (Normalized)
3.66%3.42%2.14%
Return on Equity (Normalized)
6.65%5.95%3.89%
Return on Invested Capital (Normalized)
5.58%4.91%3.51%
Return on Assets
N2IU
C38U
T82U

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