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Frasers Centrepoint Trust, Keppel DC REIT, Frasers Logistics & Commercial Trust and Suntec REIT surpassed expectations, but Keppel REIT and Mapletree Pan Asia Commercial Trust missed expectations. Results from 11 out of the 17 large cap S-REITs under our coverage met expectations.
Retail: Pick-up in growth for tenant sales.
Frasers Centrepoint Trust
- - Read this at SGinvestors.io -
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Positive rental reversion for Lendlease REIT’s retail assets picked up to 12.2% in 3QFY26, compared with 10.4% in 1HFY26. Likewise, growth in tenant sales was stronger at 2.5% y-o-y in 9MFY26, compared with 1.1% y-o-y in 1HFY26. Lendlease REIT continues to reduce its reliance on perpetual securities by issuing only S$120m of new perpetual securities to refinance S$200m due in Jun 26. Interest coverage ratio has improved 0.3x y-o-y to 1.8x. Read also: Lendlease Global Commercial REIT: Stronger Reversions, Tenant Sales & Balance Sheet.
Office: Limited supply supports positive reversions.
Keppel REIT
- Read more at SGinvestors.io.
Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.
Jonathan Koh CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2026-06-04
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