Lendlease Global Commercial REIT's Singapore Retail Fundamentals Remain Healthy
Dow Jones
Aug 05
0657 GMT - Lendlease Global Commercial REIT's Singapore retail portfolio fundamentals remain healthy, supporting the real-estate investment trust's likely stronger distributions per unit, say CGS International's Li Jialin and Raymond Yap in a note. Occupancy at one of its key Singapore mall assets is likely to recover as its enhancement is completed in 1H next year, they say. The analysts raise their FY 2027 and FY 2028 distribution per unit estimates by 3% and 2.9%, respectively, partly to factor in stronger-than-expected rental uplift at the mall. CGSI raises its target price to 70 Singapore cents from S$0.69 and maintains its add rating. Units rise 1.7% to S$0.595.
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