0239 GMT - Mapletree Industrial Trust may be hit by lease nonrenewals at some U.S. data centers in FY 2027, UOB Kay Hian's Jonathan Koh says in a report. Known nonrenewal cases at its data centers in San Diego and Hawthorne in California and in Alpharetta in Georgia account for 4.7% of the REIT's gross rental income, the analyst says. Assuming that data centers in San Diego and Alpharetta become vacant, the analyst estimates occupancy for the REIT's data centers in North America could fall 11 percentage points to 75% by 3Q FY 2027. The brokerage lowers its target price on the REIT to S$2.07 a unit from S$2.22, with an unchanged hold rating. Units are 1.0% higher at S$1.95.(ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 06, 2026 22:39 ET (02:39 GMT)
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