Lendlease Global Commercial REIT Attractive on Steady Operations -- Market Talk

Dow Jones2023-11-09

0302 GMT - Lendlease Global Commercial REIT is retained at a buy by Maybank Research on the REIT's steady operations, as indicated by its 1Q FY 2024 business update, Maybank Research analyst Krishna Guha says in a research note. While divestments are being explored, the Singapore-listed REIT's focus appears to be more on asset-enhancement opportunities, the analyst says, noting that space in its Sky Complex in Milan, Italy, could be taken back, refurbished and marked-to-market on rents to generate upside. However, Maybank trims the unit's target price to S$0.70 from S$0.80 to partly reflect higher cost of equity. Units are 1.8% lower at S$0.555. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

November 08, 2023 22:02 ET (03:02 GMT)

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