Mapletree Industrial Trust (SGX: ME8U) — Share Price & Investor Guide 2026
FY2026 DPU 12.71¢ | ~6.5% Dividend Yield | S$8.2B Portfolio | 141 Properties
Mapletree Industrial Trust (SGX: ME8U), commonly known as MIT, is one of Singapore’s largest and most diversified industrial S-REITs. With a S$8.2 billion portfolio spanning 141 properties across Singapore, North America and Japan — including a fast-growing data centre segment — MIT offers Singapore investors a blend of industrial stability and technology-driven growth. As at May 2026, MIT’s share price hovers around S$1.92, implying a dividend yield of approximately 6.5% on the FY2026 DPU of 12.71 cents.
This guide covers MIT’s share price history, DPU record, portfolio composition, gearing, and how it stacks up against S-REIT peers. Not financial advice. Data as at April–May 2026.
Table of Contents
Contents — Click to expand
- MIT Share Price 2026 — Current & Historical
- DPU History FY2022–FY2026
- Portfolio Composition — Industrial & Data Centres
- Key Financial Metrics — Gearing, NAV, ICR
- Peer Yield Comparison vs S-REIT Industrial Peers
- MIT Outlook 2026 — Opportunities & Risks
- How to Buy MIT Shares in Singapore
- FAQ — MIT Share Price & Dividends
MIT Share Price 2026 — Current & Historical Overview
Mapletree Industrial Trust’s share price (SGX: ME8U) has traded in a range of approximately S$1.80–S$2.40 over the past 12 months, reflecting sector-wide S-REIT pressure from elevated interest rates. As at mid-May 2026, MIT trades at around S$1.92 per unit, giving a market capitalisation of roughly S$4.5 billion and a trailing dividend yield of approximately 6.6%.
The share price weakness in 2025–2026 has been driven by three main factors: (1) the US Federal Reserve keeping rates higher for longer, compressing REIT valuations; (2) currency headwinds as the USD and JPY weakened against SGD, dragging down MIT’s overseas DPU contribution; and (3) the non-renewal of a key US data centre lease, creating near-term income uncertainty.
| Period | Approx. Share Price (SGD) | Indicative Yield |
|---|---|---|
| May 2026 | ~$1.92 | ~6.6% |
| Dec 2025 | ~$1.98 | ~6.4% |
| Jun 2025 | ~$2.08 | ~6.1% |
| Dec 2024 | ~$2.15 | ~5.9% |
| 52-week High | ~$2.35 | ~5.4% |
| 52-week Low | ~$1.80 | ~7.1% |
Note: Share prices are approximate, for illustrative purposes. Always check live prices on SGX.com before transacting.
MIT DPU History — FY2022 to FY2026
MIT has paid quarterly distributions since listing, making it one of the more reliable industrial S-REIT income payers on SGX. The FY2026 DPU of 12.71 cents represents a 6.3% year-on-year decline from FY2025’s 13.57 cents — the largest annual drop in recent history, driven primarily by the disposal of US data centre assets and unfavourable USD/SGD currency translation.
Excluding these one-off divestment effects, the underlying portfolio DPU decline would have been a more moderate 3.2%. The Singapore portfolio — which generates approximately 57% of net property income — remained robust, delivering positive rental reversions of +6.2% in 4Q FY2025/26.
| Financial Year | Annual DPU (¢) | YoY Change | Yield at ~$1.92 |
|---|---|---|---|
| FY2025/26 (Apr 2025–Mar 2026) | 12.71¢ | ▼ 6.3% | 6.6% |
| FY2024/25 (Apr 2024–Mar 2025) | 13.57¢ | ▲ 1.1% | 7.1% |
| FY2023/24 (Apr 2023–Mar 2024) | 13.42¢ | ▼ 0.9% | 7.0% |
| FY2022/23 (Apr 2022–Mar 2023) | 13.54¢ | ▲ 1.2% | 7.1% |
| FY2021/22 (Apr 2021–Mar 2022) | 13.38¢ | — | 7.0% |
FY2026 Quarterly DPU Breakdown
| Quarter | DPU (¢) | Period |
|---|---|---|
| 1H FY25/26 (combined) | 6.45¢ | Apr–Sep 2025 |
| 3Q FY25/26 | 3.17¢ | Oct–Dec 2025 |
| 4Q FY25/26 | 3.09¢ | Jan–Mar 2026 |
| Full Year FY25/26 | 12.71¢ | Apr 2025–Mar 2026 |
Source: MIT Investor Relations. Ex-dividend and payment dates vary each quarter.
MIT Portfolio Composition — Industrial & Data Centre Properties
As at 31 March 2026, MIT’s portfolio comprised 141 properties with an aggregate valuation of S$8.2 billion and 23.9 million sq ft of net lettable area (NLA). The portfolio spans three geographies and multiple industrial asset classes.
| Geography | No. of Properties | Key Asset Types |
|---|---|---|
| Singapore | 85 | Hi-Tech Buildings, Business Parks, Flatted Factories, Stack-up/Ramp-up, Light Industrial |
| North America | 56 | Data Centres (incl. 13 via JV with Mapletree Investments) |
| Japan | Several | Industrial & logistics (ongoing strategic review) |
Singapore Portfolio Highlights
MIT’s Singapore portfolio generated strong rental reversions of +6.2% in 4Q FY25/26, reflecting tight industrial vacancy across the island. Occupancy across the Singapore assets remained solid at above 90%, underpinned by demand from advanced manufacturing, logistics, and tech tenants. Notable Singapore properties include Mapletree Business City (MBC I & II), 1 & 10 Depot Close, 30A Kallang Place, and the Toa Payoh cluster of flatted factories.
Data Centre Portfolio
MIT’s data centre assets — concentrated in the US, with a 40% interest in a JV that holds 13 North American data centres — are its most strategically significant growth pillar. However, they also introduce income volatility: 17.1% of data centre leases expire in FY2027 and 20.6% in FY2028, presenting re-leasing risk as hyperscaler tenants negotiate hard. Management is actively exploring S$500–600 million of opportunistic US divestments to reduce concentration risk and fund acquisitions in Japan and Europe.
Portfolio Occupancy
| Metric | FY2026 (Mar 2026) |
|---|---|
| Overall Portfolio Occupancy | 91.2% |
| WALE (Weighted Avg Lease Expiry) | 4.4 years |
| SG Rental Reversion (4Q FY26) | +6.2% |
| Total Portfolio Valuation | S$8.2 billion |
| Total NLA | 23.9 million sq ft |
Key Financial Metrics — Gearing, NAV & Interest Cover
MIT’s balance sheet as at 31 March 2026 is conservatively positioned relative to MAS’s 50% regulatory gearing cap, giving the trust adequate headroom for acquisitions or to weather a downturn in property values.
| Financial Metric | FY2026 (Mar 2026) |
|---|---|
| Aggregate Leverage (Gearing) | 34.0% |
| Post-perpetual redemption gearing (est.) | ~37.5% |
| Net Asset Value (NAV) per Unit | ~$1.80–$1.90 |
| Price-to-NAV | ~1.0–1.07x |
| MAS Gearing Limit | 50% |
| Headroom to 45% threshold | ~7.5–11% |
MIT’s gearing of 34.0% — rising to ~37.5% after planned perpetual securities redemption — remains well within the MAS 50% limit. The trust actively hedges its foreign currency exposure, with the majority of its distributable income hedged in SGD terms, though residual USD and JPY exposure creates DPU volatility when these currencies weaken against SGD.
For Singapore investors using CPF, MIT is included in the CPF Investment Scheme (CPFIS) — meaning Ordinary Account funds can potentially be used to invest in MIT, subject to CPF board eligibility rules. Use our S-REIT Gearing Ratio Calculator to model different leverage scenarios before investing.
MIT vs S-REIT Industrial Peers — Yield Comparison (May 2026)
MIT sits in the middle of the industrial S-REIT yield spectrum. At ~6.5%, it offers a higher yield than the larger CapitaLand Ascendas REIT (CLAR) but lower than smaller, higher-risk peers like Sabana REIT. The data centre exposure gives MIT a differentiated growth angle that most pure industrial peers cannot match.
| REIT | SGX Code | Approx. Yield | Gearing | Focus |
|---|---|---|---|---|
| Mapletree Industrial Trust | ME8U | ~6.5% | 34.0% | Industrial + Data Centres |
| CapitaLand Ascendas REIT | A17U | ~6.1% | 39.0% | Multi-asset Industrial |
| AIMS APAC REIT | O5RU | ~6.7% | ~33% | SG + AU Industrial |
| Frasers Centrepoint Trust | J69U | ~5.4% | ~38% | Suburban Retail |
| Sabana REIT | M1GU | ~7.5% | ~38% | SG Industrial (small cap) |
Yields are approximate based on prevailing prices and latest DPU announcements as at May 2026. Past performance is not indicative of future performance.
For a broader S-REIT comparison, see our Best S-REITs in Singapore 2026 guide, or use our S-REIT Dividend Yield Calculator to compute your own yield figures.
MIT Outlook 2026 — Opportunities & Key Risks
Opportunities
1. Singapore Industrial Rental Uplift. The Singapore industrial market remains undersupplied in quality hi-tech and business park space. MIT’s +6.2% rental reversion rate in 4Q FY26 signals that expiring leases are being renewed at materially higher rents, which should underpin DPU recovery in FY2027.
2. Data Centre Structural Demand. Global demand for data centre capacity — driven by AI workloads, cloud migration, and enterprise digitalisation — supports long-term occupancy for MIT’s North American data centre JV. While near-term lease expiries create risk, re-leasing at higher rents is plausible given tight US data centre supply in key markets.
3. Opportunistic Acquisitions. With gearing at 34%, MIT has meaningful debt headroom. Management has signalled interest in Japan and European acquisitions to diversify beyond the US. A well-priced deal could re-rate the stock and lift DPU.
4. Rate Cut Tailwind. As the US Fed pivots toward rate cuts in 2026, financing costs for REITs should fall, directly benefiting MIT’s interest coverage and DPU. S-REIT valuations historically re-rate upward when rates decline.
Risks
1. US Data Centre Lease Expiries. With 17.1% of leases expiring in FY2027 and 20.6% in FY2028, MIT faces significant re-leasing risk in its North American data centre portfolio. If renewal rates or occupancy fall short, DPU could decline further.
2. Currency Risk. MIT earns income in USD and JPY, which are translated to SGD for distributions. A further weakening of USD or JPY against SGD would compress DPU — a risk that has already impacted FY2026 earnings.
3. Interest Rate Sensitivity. Like all REITs, MIT’s unit price is sensitive to interest rate movements. If rates remain elevated longer than expected, the share price discount to NAV may persist.
For investors building a CPF-based investment portfolio, read our CPF Investment Strategy guide. To compare expected retirement income from REIT dividends, try our Retirement Planning Calculator.
How to Buy Mapletree Industrial Trust (ME8U) in Singapore
MIT is listed on the Singapore Exchange (SGX) and can be bought through any SGX-connected brokerage. Here’s how to get started:
Step 1 — Open a brokerage account. Choose a broker that offers competitive fees for SGX equities. For long-term investors, platforms like Endowus (for CPF/SRS investing) or FSMOne (lowest CDP-linked commissions) are popular choices among Singapore investors.
Step 2 — Fund your account. Transfer SGD to your brokerage account. If investing via CPF, link your CPF Investment Account (CPFIA) to your broker.
Step 3 — Search for ME8U. On your trading platform, search for the ticker ME8U to find Mapletree Industrial Trust. MIT trades in board lots of 100 units, so at ~S$1.92 per unit, the minimum investment is approximately S$192 per lot.
Step 4 — Place your order. Use a limit order during market hours (9am–5pm SGT, Mon–Fri) to control your entry price. Avoid market orders when the bid-ask spread is wide.
Step 5 — Track distributions. MIT pays quarterly distributions. Use our REIT Dividend Yield Calculator to estimate your expected quarterly income at different share price levels.
If you prefer diversified S-REIT exposure without picking individual stocks, consider the Lion-Phillip S-REIT ETF (SGX: CLR), which holds MIT as one of its top positions.
FAQ — Mapletree Industrial Trust Share Price & Dividends
What is Mapletree Industrial Trust's current share price?
As at mid-May 2026, Mapletree Industrial Trust (SGX: ME8U) trades at approximately S$1.92 per unit. Share prices change daily — always check the latest price on SGX.com or your brokerage platform before transacting.
What is MIT's dividend yield in 2026?
Based on FY2025/26 DPU of 12.71 cents and a share price of ~S$1.92, MIT’s trailing dividend yield is approximately 6.6%. The forward yield depends on whether DPU recovers in FY2027 as US data centre leases are re-let and Singapore rental reversions flow through.
Why did MIT's DPU fall in FY2026?
MIT’s FY2026 DPU fell 6.3% year-on-year to 12.71 cents. The decline was driven by three factors: (1) the disposal of US data centre assets that previously contributed income; (2) adverse USD/SGD and JPY/SGD currency movements reducing the SGD value of overseas distributions; and (3) a non-renewal of a major US data centre lease. The underlying Singapore portfolio remained robust.
What is MIT's gearing ratio?
MIT’s aggregate leverage (gearing) stood at 34.0% as at 31 March 2026. Following the planned redemption of existing perpetual securities using newly issued ones, gearing is expected to rise to approximately 37.5% — still well below the MAS regulatory cap of 50%. Use our Gearing Ratio Calculator to model different scenarios.
Can I buy MIT using CPF?
Yes. Mapletree Industrial Trust is included in the CPF Investment Scheme (CPFIS), allowing eligible investors to use their CPF Ordinary Account savings to invest in ME8U units, subject to CPF Board rules and investment limits. Platforms like Endowus support CPF investing for REITs. Read our CPF Investment Strategy guide for more details.
How many properties does MIT own?
As at March 2026, MIT owns 141 properties with a combined value of S$8.2 billion and 23.9 million sq ft of net lettable area. This includes 85 Singapore industrial properties and 56 North American data centres (including 13 held via a JV with Mapletree Investments).
Is MIT a good investment in 2026?
This is not financial advice. MIT offers a ~6.5% yield, conservative gearing (34%), and a Singapore industrial portfolio with strong rental reversions. Key risks include US data centre lease expiries, currency exposure, and higher-for-longer interest rates. Investors should assess these factors against their own risk tolerance, investment horizon, and portfolio composition before making any decision. Consider consulting a licensed financial adviser.