Lendlease Global Commercial REIT - CGS-CIMB Research 2024-02-02: Positive On Operations & Re-leasing Of Sky Complex

• Lendlease REIT (SGX:JYEU)'s 1HFY24 retail reversions came in at 15.7% (FY23/1QFY24: 4.8%/16.3%), with 313 and JEM reporting strong positive reversions of 19% and ~10%, respectively.

Retail portfolio delivering strong operational numbers

• - Read this at SGinvestors.io -

On track to achieve 35% occupancy for Sky Complex Building 3 by FY25F

• In a post result call with analysts, management of Lendlease REIT said it has seen good leasing interest for Building 3 at Sky Complex and is optimistic of a few floors being leased out by end- FY6/24F.
• - Read this at SGinvestors.io -
• That said, the divestment of the office component of Jem as a possible deleveraging option is also under consideration, management said.

1H23 DPU in line at 49.5% of FY23F;

• Read more at SGinvestors.io.

Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.

Previous report by CGS-CIMB:
2023-12-19 Lendlease Global Commercial REIT - First Step Towards Restoring Inorganic Growth.

Price targets by 2 other brokers at Lendlease REIT Target Prices.

Listing of research reports at Lendlease REIT Analyst Reports.

Relevant links:
Lendlease REIT Share Price History,
Lendlease REIT Announcements,
Lendlease REIT Dividend Payout Dates & Corporate Actions,
Lendlease REIT News