Lendlease Global Commercial REIT's Rental Reversions May Stay Positive -- Market Talk

Dow Jones2023-10-02

0320 GMT - Lendlease Global Commercial REIT's rental reversions could remain positive given buoyant tenant sales and limited new supply of retail space, UOB Kay Hian analyst Jonathan Koh says in a research note as he maintains a buy rating. The analyst adds that the REIT's tenant sales were 15%-20% above prepandemic levels in 4Q, noting that its 313@Somerset mall benefits from employees returning to offices and tourists returning to shops. However, the brokerage trims distribution-per-unit forecasts for the REIT by 4% for FY 2024 and 7% for FY 2025 to reflect a new sustainability-linked euro loan and lowers the target price to S$0.830 from S$0.890. Units are 0.9% lower at S$0.540. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

October 01, 2023 23:20 ET (03:20 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2372006101?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-10-02 11:20","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2372006101","market":"us","top_or_hot":-1,"title":"Lendlease Global Commercial REIT's Rental Reversions May Stay Positive -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0320 GMT - Lendlease Global Commercial REIT's rental reversions could remain positive given buoyant tenant sales and limited new supply of retail space, UOB Kay Hian analyst Jonathan Koh says in a research note as he maintains a buy rating. The analyst adds that the REIT's tenant sales were 15%-20% above prepandemic levels in 4Q, noting that its 313@Somerset mall benefits from employees returning to offices and tourists returning to shops. However, the brokerage trims distribution-per-unit forecasts for the REIT by 4% for FY 2024 and 7% for FY 2025 to reflect a new sustainability-linked euro loan and lowers the target price to S$0.830 from S$0.890. Units are 0.9% lower at S$0.540. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 01, 2023 23:20 ET (03:20 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Lendlease Global Commercial REIT's Rental Reversions May Stay Positive -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLendlease Global Commercial REIT's Rental Reversions May Stay Positive -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-10-02 11:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>0320 GMT - Lendlease Global Commercial REIT's rental reversions could remain positive given buoyant tenant sales and limited new supply of retail space, UOB Kay Hian analyst Jonathan Koh says in a ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"REIT","symbol_name":"ALPS Active REIT ETF","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2372006101","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2372006101","pubTimestamp":1696216800,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0320 GMT - Lendlease Global Commercial REIT's rental reversions could remain positive given buoyant tenant sales and limited new supply of retail space, UOB Kay Hian analyst Jonathan Koh says in a research note as he maintains a buy rating. The analyst adds that the REIT's tenant sales were 15%-20% above prepandemic levels in 4Q, noting that its 313@Somerset mall benefits from employees returning to offices and tourists returning to shops. However, the brokerage trims distribution-per-unit forecasts for the REIT by 4% for FY 2024 and 7% for FY 2025 to reflect a new sustainability-linked euro loan and lowers the target price to S$0.830 from S$0.890. Units are 0.9% lower at S$0.540. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"REIT":"ALPS Active REIT ETF","BK6512":"房地产股","JYEU.SI":"Lendlease Reit","BK6011":"零售业房地产投资信托","BK6137":"零售房地产信托"},"translate_title":"Lendlease全球商业房地产投资信托基金的租金续租可能保持积极——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"REIT":1,"JYEU.SI":0.9},"content_text":"0320 GMT - Lendlease Global Commercial REIT's rental reversions could remain positive given buoyant tenant sales and limited new supply of retail space, UOB Kay Hian analyst Jonathan Koh says in a research note as he maintains a buy rating. The analyst adds that the REIT's tenant sales were 15%-20% above prepandemic levels in 4Q, noting that its 313@Somerset mall benefits from employees returning to offices and tourists returning to shops. However, the brokerage trims distribution-per-unit forecasts for the REIT by 4% for FY 2024 and 7% for FY 2025 to reflect a new sustainability-linked euro loan and lowers the target price to S$0.830 from S$0.890. Units are 0.9% lower at S$0.540. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 01, 2023 23:20 ET (03:20 GMT)\n\n\n  Copyright (c) 2023 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2372006101"}