Lendlease Global Commercial REIT Remains Outperform Call on Still-Attractive DPU Yields -- Market Talk

Dow Jones2023-10-10

0721 GMT - Lendlease Global Commercial REIT retains its outperform call from Daiwa Capital Markets on its still-attractive distribution-per-unit yields, the brokerage's analysts say in a research report. Also, Daiwa sees minimal risk of equity fund-raising by the REIT as the REIT's financial metrics, even under substantially high borrowing costs from FY 2025, are well within convenants of its debt agreements, the analysts add. However, given the 'higher-for-longer' rate outlook, Daiwa raises its all-in financing cost assumptions for the REIT by 10-20 bps for FY 2024-2026, and lowers the unit's target price to S$0.58 from S$0.71. Units are 1.0% lower at $0.51. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

October 10, 2023 03:21 ET (07:21 GMT)

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