UOB Kay Hian analyst Jonathan Koh maintained a Buy rating on Lendlease Global Commercial REIT yesterday and set a price target of S$0.79.
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Jonathan Koh has given his Buy rating due to a combination of factors that highlight Lendlease Global Commercial REIT’s strong performance and strategic positioning. The REIT achieved a year-on-year growth in distribution per unit (DPU) by 1.8% in the second half of FY25, despite facing challenges such as provisions for outstanding rental from Cathay Cineplexes. The properties in Singapore, 313@Somerset and Jem, maintained high occupancy rates and positive rental reversions, underscoring their strong market position.
Furthermore, Lendlease Global Commercial REIT’s strategic focus on Singapore, where 87% of its portfolio is located, provides it with a competitive edge due to the high quality of its assets and their long leasehold tenure. The REIT’s portfolio valuation increased by 2.2%, supported by growth at Jem and favorable currency conditions in Europe. Additionally, the REIT offers an attractive distribution yield of 6.7% for FY26, making it a compelling investment opportunity. These factors collectively support Jonathan Koh’s Buy rating for the stock.
In another report released on August 7, CGS-CIMB also reiterated a Buy rating on the stock with a S$0.67 price target.
JYEU’s price has also changed slightly for the past six months – from S$0.515 to S$0.565, which is a 9.71% increase.