M44U Fair Value & Analysis
Real Estate · SG · Market cap 6.3B SGD
Fair value as of: Aug 13, 2026
From 13 valuation models · updated today
Share price −2.5% over the past month.
A solid business, but screening 25% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (1.12 SGD). The favourable scenario is already priced in.
- Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range 0.9742 SGD – 1.64 SGD · fair‑value band 0.6600 SGD – 1.12 SGD · the 1.18 SGD price screens above the 0.8800 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
M44U (M44U) currently trades at 1.18 SGD, while our model-based Fair Value estimate is 0.8800 SGD, implying the stock looks roughly 25.4% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, M44U generated revenue of 708M SGD at a net margin of 39.1%. Revenue declined 1.7% year over year. It earns a return on equity of 3.9%. Net debt stands at 5.2B SGD. Fundamentals as of Aug 13, 2026
Our scenario range runs from 0.6600 SGD (bear case) to 1.12 SGD (bull case); at 1.18 SGD, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 11% below its 52-week high and 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -43% fair-value upside, at -25%, M44U screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 13 models by family
Widest divergence: Economic Profit (0.9900 SGD) versus Growth DCF (0.6400 SGD). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 60 · Market factors (momentum, volatility) 57
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Mapletree Logistics Trust, the first Asia Pacific-focused logistics REIT in Singapore, was listed on the SGX-ST Main Board on 28 July 2005. MLT's principal strategy is to invest in a diversified portfolio of income-producing logistics real estate and real estate-related assets.
Full company description
Mapletree Logistics Trust, the first Asia Pacific-focused logistics REIT in Singapore, was listed on the SGX-ST Main Board on 28 July 2005. MLT's principal strategy is to invest in a diversified portfolio of income-producing logistics real estate and real estate-related assets. As at 31 March 2026, it has a portfolio of 174 properties in Singapore, Australia, China, Hong Kong SAR, India, Japan, Malaysia, South Korea and Vietnam with assets under management of S13.1 billion dollar. MLT is managed by Mapletree Logistics Trust Management Ltd., a wholly owned subsidiary of Mapletree Investments Pte Ltd. Mapletree Logistics Trust was incorporated in 2004 in Singapore.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
M44U reported revenue of 695M SGD in FY2026 versus 666M SGD in FY2022, a compound +1.1%/yr. Reported net income was 277M SGD in FY2026, compounding −22.9%/yr from FY2022.
M44U screens 25% overvalued. Compare with Prologis, Inc →
Peer Group
REIT - Industrial · 58 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs REIT - Industrial median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more REIT - Industrial stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Prologis, Inc PLD | $140.73 | $61.28 | -56% |
| Public Storage, a member of the S&P 500, PSA | $323.58 | $162.43 | -50% |
| Extra Space Storage Inc EXR | $147.71 | $78.38 | -47% |
| EastGroup Properties, Inc EGP | $203.45 | $81.41 | -60% |
| Lineage, Inc LINE | $41.50 | $47.91 | +15% |
| CapitaLand Ascendas REIT (CLAR) A17U | 2.44 SGD | 2.00 SGD | -18% |
| CubeSmart CUBE | $41.22 | $25.06 | -39% |
| First Industrial Realty Trust, Inc FR | $63.34 | $20.72 | -67% |
| Rexford Industrial Realty, Inc REXR | $36.39 | $20.69 | -43% |
| STAG Industrial, Inc STAG | $36.94 | $21.64 | -41% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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