Lendlease Global Commercial REIT - Maybank Research 2024-11-13: Seeking Financial Flexibility

Lendlease Global Commercial REIT - Seeking Financial Flexibility

Published:
Lendlease REIT (SGX:JYEU) | SGinvestors.io
  • Lendlease REIT’s 1QFY25 business update underscored a steady operations, underpinned by low-teens positive retail reversion, fully occupied Singapore assets and slow backfilling of space of Milan office.
  • - Read this at SGinvestors.io -
  • Management of Lendlease REIT reiterated focus remains on unlocking asset value and simplifying capital structure in a meeting with investors.

Steady operations; Healthy reversions,

  • Lendlease REIT achieved portfolio occupancy of 89.5% vs 89.1% last quarter. Gains were led by incremental pick up in committed occupancy of Sky Complex. Signing of leases under advanced negotiations is likely to bring up occupancy to 30% from current high single digit. Retail malls are fully let.
  • - Read this at SGinvestors.io -
  • Tenant sales fell 5.7% y-o-y due to the high-base effect, cautious spending by locals and tourists and one-off effect from MRT disruptions.
  • Guide is for retail rental reversion to sustain at these levels. Lease review for Jem office is likely to result in low double-digit reversion with minimal risk of downsizing.

Managing gearing; focusing on capital management

  • Read more at SGinvestors.io.




Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.




Krishna Guha Maybank Research | https://www.maybank.com/ 2024-11-13



Previous report by Maybank:
2024-08-07 Lendlease Global Commercial REIT - Healthy Operations, Moving Towards Stability.

Price targets by 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 Dividends & Corporate Actions,
Lendlease REIT News Articles





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