Mapletree Logistics Trust has seen its unit price retreat over several years, which puts fresh focus on whether the current S$1.09 level lines up with what its earnings can reasonably support. For anyone tracking the REIT today, the key issue is how that market price stacks up against what unitholders are actually paying for its profit stream. Over the past 5 years the unit price has fallen 28.1%. This raises the question of whether the present valuation still matches the trust’s earnings…