tiprankstipranks
Trending News
More News >
Lendlease Global Commercial REIT (SG:JYEU)
SGX:JYEU
Singapore Market
Advertisement

Lendlease Global Commercial REIT (JYEU) AI Stock Analysis

Compare
75 Followers

Top Page

SG:JYEU

Lendlease Global Commercial REIT

(SGX:JYEU)

Rating:64Neutral
Price Target:
S$0.50
▼(-9.09%Downside)
Lendlease Global Commercial REIT's overall stock score is primarily supported by its strong financial performance and high dividend yield. Efficient operational margins and leverage improvements are significant strengths. However, technical indicators suggest caution due to overbought conditions. Valuation metrics are moderate, with risks associated with high total liabilities and valuation.
Positive Factors
Financial Stability
Secured refinancing for the remainder of SGD-denominated debt, indicating financial stability.
Portfolio Performance
LREIT’s portfolio take-up stands at 92.1% underpinned by robust retail occupancy of 99.5%.
Rental Reversions
Rental reversions were a robust +10.4%, indicating strong demand and positive lease negotiations.
Negative Factors
Financial Performance
Gross revenue and NPI declined 13.6% and 19.8% yoy respectively in 1HFY25.
Interest Rates
A higher-for-longer interest rate environment could prompt estimates to be cut.
Retail Performance
Retail portfolio tenant sales and shopper traffic fell 5.1% and 0.2% respectively, impacted by a softer retail landscape.

Lendlease Global Commercial REIT (JYEU) vs. iShares MSCI Singapore ETF (EWS)

Lendlease Global Commercial REIT Business Overview & Revenue Model

Company DescriptionListed on 2 October 2019, Lendlease Global Commercial REIT ("LREIT") 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 initial portfolio comprises a leasehold interest in, 313@somerset, a retail property located in Singapore and a freehold interest in Sky Complex, which comprises three office buildings located in Milan. The portfolio has a total net lettable area of approximately 1.3 million square feet, with an appraised value of S$1.4 billion as at 30 June 2020. LREIT is managed by Lendlease Global Commercial Trust Management Pte. Ltd., an indirect wholly-owned subsidiary of Lendlease. Its key objectives are to provide Unitholders with regular and stable distributions, achieve long-term growth in distribution per unit and net asset value per unit, and maintain an appropriate capital structure.
How the Company Makes MoneyLendlease Global Commercial REIT makes money primarily through rental income from its portfolio of commercial properties. The company leases its retail and office spaces to a variety of tenants, ranging from multinational corporations to local businesses, under long-term lease agreements. This provides a steady stream of rental revenue. Additionally, the REIT may benefit from strategic asset management activities, such as property enhancements or redevelopments, which can increase property values and, consequently, rental income. Partnerships with local and international property developers and managers can further optimize the earnings potential of its assets. The REIT also engages in capital recycling, where it sells mature assets and reinvests in higher-yielding opportunities, contributing to its overall financial performance.

Lendlease Global Commercial REIT Financial Statement Overview

Summary
Lendlease Global Commercial REIT shows strong financial performance with significant revenue growth and efficient operational margins. Despite a reduction in net income, leverage improvement and solid cash flow management position the company well for future growth. However, high total liabilities and a decrease in net income warrant attention as they may impact financial flexibility.
Income Statement
78
Positive
Lendlease Global Commercial REIT has demonstrated strong revenue growth, with a significant increase from 2023 to 2024. The gross profit margin remains robust at approximately 67.8% for 2024, and the net profit margin is healthy at about 34.9%. Despite the decrease in net income from 2023 to 2024, the company maintains a strong EBIT margin of 64.9% and EBITDA margin of 60.8%, indicating efficient core operations.
Balance Sheet
65
Positive
The debt-to-equity ratio improved from 1.05 in 2023 to 0.70 in 2024, reflecting better leverage management. The equity ratio shows stability, at approximately 57.8%, suggesting a solid equity base. However, the company's total liabilities remain high, which could pose risks if cash flows do not sustain.
Cash Flow
72
Positive
The free cash flow growth rate is modest, with a slight increase from 2023 to 2024. The operating cash flow to net income ratio is favorable, indicating strong cash generation relative to earnings. The free cash flow to net income ratio is also healthy, reflecting efficient cash management despite a decrease in net income.
BreakdownJun 2024Jun 2023Jun 2022Jun 2021Jun 2020
Income Statement
Total Revenue220.91M205.52M101.66M78.18M56.07M
Gross Profit149.86M135.13M70.87M53.68M35.23M
EBITDA131.73M131.94M146.27M1.55M29.73M
Net Income77.18M99.57M141.93M-1.94M-8.62M
Balance Sheet
Total Assets3.83B3.83B3.70B1.74B1.56B
Cash, Cash Equivalents and Short-Term Investments34.12M54.22M49.23M249.26M83.68M
Total Debt1.54B1.91B1.45B545.09M529.00M
Total Liabilities1.62B2.00B1.52B580.32M563.25M
Stockholders Equity2.21B1.83B2.17B1.16B992.25M
Cash Flow
Free Cash Flow121.16M120.56M90.75M65.04M14.12M
Operating Cash Flow128.81M120.72M95.23M66.51M14.12M
Investing Cash Flow475.00K-93.36M-1.85B-47.29M-1.45B
Financing Cash Flow-149.26M-22.21M1.55B145.83M1.52B

Lendlease Global Commercial REIT Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.55
Price Trends
50DMA
0.51
Positive
100DMA
0.50
Positive
200DMA
0.52
Positive
Market Momentum
MACD
0.01
Negative
RSI
74.63
Negative
STOCH
85.71
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:JYEU, the sentiment is Positive. The current price of 0.55 is above the 20-day moving average (MA) of 0.53, above the 50-day MA of 0.51, and above the 200-day MA of 0.52, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 74.63 is Negative, neither overbought nor oversold. The STOCH value of 85.71 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:JYEU.

Lendlease Global Commercial REIT Peers Comparison

Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
64
Neutral
S$1.35B22.823.16%6.48%-8.34%-22.51%
64
Neutral
$6.87B15.19-1.99%6.97%4.50%-23.97%
$969.07M16.364.09%22.58%
62
Neutral
S$1.35B74.471.45%3.11%7.02%-79.65%
57
Neutral
S$1.37B79.35-0.91%7.24%-7.66%-145.74%
S$1.39B12.673.01%1.91%
65
Neutral
S$1.23B26.292.51%6.68%0.84%-64.42%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SG:JYEU
Lendlease Global Commercial REIT
0.55
-0.01
-1.79%
SGLMF
Starhill Global Real Estate Investment
0.36
0.02
5.88%
SG:ACV
Frasers Hospitality Trust
0.70
0.30
75.00%
SG:AU8U
CapitaLand China Trust
0.78
0.16
25.81%
SG:H13
Ho Bee Land Limited
2.16
0.35
19.34%
SG:Q5T
Far East Hospitality Trust
0.60
0.01
1.69%

Lendlease Global Commercial REIT Corporate Events

Lendlease Global Commercial REIT Secures Favorable Tax Ruling on Perpetual Securities
Jun 30, 2025

Lendlease Global Commercial REIT has announced that it has received a favorable tax ruling from the Inland Revenue Authority of Singapore regarding its issuance of S$120 million 4.75% perpetual securities. This ruling classifies the securities as ‘debt securities’ for tax purposes, allowing holders to benefit from tax concessions and exemptions under Singapore’s Income Tax Act, potentially enhancing the attractiveness of these securities to investors.

The most recent analyst rating on (SG:JYEU) stock is a Hold with a S$6.15 price target. To see the full list of analyst forecasts on Lendlease Global Commercial REIT stock, see the SG:JYEU Stock Forecast page.

Lendlease Global Commercial REIT Achieves Positive Rental Reversions Amid Strategic Enhancements
May 7, 2025

Lendlease Global Commercial REIT reported positive rental reversions for its retail and office portfolios in Singapore for the third quarter of FY2025, with a 10.4% increase in retail and a 13% uplift in office rentals. Despite a slight decline in visitation and tenant sales due to a softer retail landscape, the company has successfully refinanced S$200 million in perpetual securities at a lower rate and signed new tenants, such as Shaw Theatres at Jem. The REIT is also progressing with asset enhancement and redevelopment projects, including the transformation of a car park into a multifunctional event space, which is expected to enhance its property offerings and stakeholder value.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 22, 2025