Lendlease Global Commercial REIT - Maybank Research 2026-02-16: DPU Bottomed Out

• DPU growth driven by finance cost savings – 1HFY26 Lendlease REIT's DPU grew 3.2% y-o-y to S$1.85 cents, as the income vacuum from the JEM office divestment and Cathay lease termination was offset by lower finance expense.
• - Read this at SGinvestors.io -

Robust rental reversion sustained.

• Lendlease REIT achieved year-to-date retail rental reversion of 10.4%, and we expect reversion in the teens to be sustained as the reconfiguration at PLQ Mall has begun.
• Portfolio occupancy remained stable at 94.9% (1Q26: 95.0%), with retail fully let, while occupancy of the Milan office portfolio inched up to 89.1% (from 88.5% in 1Q26 and 81.6% a year ago). Tenant sales in 2Q rose 1.9ppts to +1.1% on a like-for-like basis, excluding PLQ Mall.

Improved balance sheet position.

• - Read this at SGinvestors.io -

Maintain BUY

• Read more at SGinvestors.io.

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

Read also Maybank's most recent report:
2026-03-15 Lendlease Global Commercial REIT - PLQ Fully Online; Shifting Focus Back To SG.

Price targets by 3 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