Will mapletree panasia commercial trust shares go up in September 2024 ?

**Mapletree Pan Asia Commercial Trust's (MPACT) stock performance in September 2024 is uncertain**, as it will depend on a variety of factors including market conditions, interest rates, and the company's operational performance. Here's an analysis to consider:

1. **Interest Rate Environment**: The extended high interest rate environment has been challenging for high-gearing level REITs like MPACT, which had a gearing level of 40.5% as of March 24, 2024. Higher interest rates increase their finance costs, which can impact their profitability and, consequently, their stock performance.
2. **Currency Translation and Finance Costs**: MPACT faced currency headwinds and higher finance costs, which resulted in a 9.1% year-on-year decline in its distribution per unit (DPU) for 3Q FY2024. This indicates potential challenges that could continue if not addressed.
3. **Portfolio Performance and Market Conditions**: The company's portfolio comprises 18 commercial properties across five key gateway markets of Asia. The performance of these properties, especially in light of new retail space coming online in Hong Kong and soft demand in China, will be crucial to MPACT's financial results.
4. **Dividend Yield and Sustainability**: MPACT has a history of consistent dividend payments with a 12-month trailing dividend yield of 6.97% as of the latest data. However, the dividend payout ratio is currently at 1.51, which may raise concerns about the sustainability of its dividends.
5. **Strategic Moves and Market Perception**: Despite positive strategic moves, MPACT's share price has dipped 22% year-to-date and 36% since the interest rate hikes began. The market's response to these moves and the company's ability to adapt could influence investor sentiment.

In conclusion, while MPACT has a solid portfolio and a history of dividend payments, the high interest rate environment and the company's financial structure could pose challenges for its stock performance in September 2024. Investors should closely monitor the company's operational performance, interest rate trends, and market conditions to make informed investment decisions.