My very first trade in 2023 was $Lendlease Global Commercial REIT(JYEU.SI)$ on 5 Jan 2023 which I have bought due to the following reasons:
1)The share price of Lendlease has been trending downward from S$0.71 on 29 Dec 22 to S$0.675 on 5 Jan 23
2)To make use of the S$5 cash voucher for REITs which I have won from participating in the campaign organized by Tiger Broker from 8 Dec 2022 to 8 Jan 2023.for trading REITs.
3)To average down my cost price
4)The dividend yield is 7.18%
5)P/B ratio is 0.71
2022 was a very tough year for investors as most of the stocks especially for REITs were greatly affected by the aggressive rate hikes, geopolitical issues, economic slow down, high inflation and demand pressures. As the interest rate hikes will most probably going to stop in 2023, the REITs price should be improving.
The net income, EPS and cash flow of Lendlease have been increasing since the first quarter of 2022. Therefore, I believe the share price will soar 🚀🚀 to the moon 🌙 when the economy has recovered.
All the analysts have stated “ADD/BUY” call for Lendlease with the target price from minimum of S$0.82 to maximum of S$1.05.
$Lendlease Global Commercial REIT(JYEU.SI)$ continued to maintain its portfolio resilience in 1Q FY2023. Its portfolio committed occupancy remained high at 99.7% with a long weighted average lease expiry (“WALE”) of 8.5 years1 by net lettable area (“NLA”) and 5.5 years1 by gross rental income (“GRI”). The Manager had de-risked leases expiring for the year to 8.0% (from 11.9%) by NLA and 14.5% (from 23.9%) by GRI, in the first three months of FY2023.
Listed on 2 October 2019, Lendlease Global Commercial REIT is established with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of stabilised income-producing real estate assets located globally, which are used primarily for retail and/or office purposes.
Its portfolio comprises leasehold properties in Singapore namely Jem (an office and retail property) and 313@somerset (a prime retail property) as well as freehold interest in Sky Complex (three grade-A office buildings) in Milan. These five properties have a total net lettable area of approximately 2.2 million square feet, with an appraised value of S$3.6 billion. Other investment includes development of a multifunctional event space on a site adjacent to 313@somerset.
Comments