Lendlease Global Commercial REIT (JYEU) AI Stock Analysis

• Market Cap: S$1.82B
• Dividend Yield: 8.08%
• Average Volume (3M): 10.73M
• Price to Earnings (P/E): 28.3
• Beta (1Y): 0.58
• Revenue Growth: -6.64%
• EPS Growth: -12.15%
• Country: SG
• Employees: 69
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Diversified
• EPS (TTM): N/A
• Shares Outstanding: 2,961,010,700
• 10 Day Avg. Volume: 11,516,110
• 30 Day Avg. Volume: 10,725,793
• PEG Ratio: 1.10
• Price to Book (P/B): 0.58
• Price to Sales (P/S): 6.08
• P/FCF Ratio: 8.52
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: S$0.78
• Price Target Upside: 27.87% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Neutral
• Price Target: S$0.50 ▼(-18.03% Downside)

Lendlease Global Commercial REIT's overall stock score is driven by its solid financial performance and strong technical indicators. The company's robust cash flow and profitability margins are positive, but the high P/E ratio suggests potential overvaluation. Technical analysis indicates bullish momentum, though caution is advised due to overbought signals. The attractive dividend yield adds value for income-focused investors.

Positive Factors

Cash Flow Management

Strong cash flow management indicates robust liquidity and operational efficiency, supporting long-term financial stability and growth.

Strategic Partnerships

Partnerships with Lendlease Group enhance asset management capabilities, providing a competitive edge and growth potential in key markets.

Occupancy Rate Improvement

Increasing occupancy rates in strategic locations like Milan boosts rental income and strengthens market position, enhancing revenue stability.

Negative Factors

Increasing Debt Levels

Rising debt levels may strain financial flexibility and increase risk, potentially impacting long-term financial health if not controlled.

Decline in Net Income

A decline in net income indicates potential profitability challenges, which could affect future earnings and investor confidence if not addressed.

Equity Issuance for Fees

Issuing equity to cover fees may dilute existing shareholder value and impact liquidity, reflecting potential financial management challenges.

Lendlease Global Commercial REIT Business Overview & Revenue Model

Company Description

Listed 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 Money

Lendlease Global Commercial REIT generates revenue primarily through rental income derived from its commercial property portfolio. The trust leases office and retail spaces to a diverse range of tenants, ensuring a steady stream of rental payments. Additionally, JYEU may earn income from property management fees and service charges associated with maintaining and operating the properties. The REIT also benefits from long-term leases with tenants, which provide predictable cash flows. Moreover, strategic partnerships with Lendlease Group allow JYEU to access development opportunities and enhance its asset management capabilities, contributing to its overall earnings. The trust's focus on high-quality, well-located properties further supports its revenue stability and growth potential.

Lendlease Global Commercial REIT Financial Statement Overview

Summary

Lendlease Global Commercial REIT demonstrates solid financial health with strong revenue growth and profitability margins. The balance sheet reflects a stable capital structure, though increasing debt levels warrant attention. Cash flow management is robust, supporting the company's liquidity and operational efficiency. Continued focus on maintaining profitability and managing leverage will be crucial for sustained financial performance.

Income Statement

Lendlease Global Commercial REIT shows a consistent revenue growth trend, with a notable increase in revenue over the years. The company maintains strong gross and net profit margins, indicating efficient cost management and profitability. However, the decline in net income from the previous year suggests potential challenges in maintaining profitability levels.

Balance Sheet

The company's debt-to-equity ratio is moderate, suggesting a balanced approach to leveraging. The return on equity has decreased, indicating a reduction in profitability relative to shareholder equity. The equity ratio is stable, reflecting a solid capital structure, but the increase in total debt over the years could pose a risk if not managed carefully.

Cash Flow

The cash flow statement reveals a strong free cash flow growth rate, highlighting effective cash management. The operating cash flow to net income ratio is improving, indicating better cash generation from operations. The high free cash flow to net income ratio suggests that the company is generating ample cash relative to its net income, which is a positive sign for liquidity.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	206.54M	206.54M	220.91M	205.52M	101.66M	78.18M
Gross Profit	127.49M	127.49M	149.86M	135.13M	70.87M	53.68M
EBITDA	115.44M	139.09M	134.28M	131.94M	146.27M	1.55M
Net Income	61.94M	70.89M	77.18M	99.57M	141.93M	-1.94M
Balance Sheet
Total Assets	3.91B	3.91B	3.83B	3.83B	3.70B	1.74B
Cash, Cash Equivalents and Short-Term Investments	41.59M	41.59M	34.12M	54.22M	49.23M	249.26M
Total Debt	1.64B	1.64B	1.54B	1.91B	1.45B	545.09M
Total Liabilities	1.76B	1.76B	1.62B	2.00B	1.52B	580.32M
Stockholders Equity	2.15B	2.15B	2.21B	1.83B	2.17B	1.16B
Cash Flow
Free Cash Flow	77.26M	147.40M	121.16M	120.56M	90.75M	65.04M
Operating Cash Flow	112.58M	162.65M	128.81M	120.72M	95.23M	66.51M
Investing Cash Flow	-12.05M	-11.16M	475.00K	-93.36M	-1.85B	-47.29M
Financing Cash Flow	-68.12M	-145.01M	-149.26M	-22.21M	1.55B	145.83M

Lendlease Global Commercial REIT Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.61
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:JYEU, the sentiment is Negative. The current price of 0.61 is below the 20-day moving average (MA) of 0.61, below the 50-day MA of 0.62, and above the 200-day MA of 0.54, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 46.44 is Neutral, neither overbought nor oversold. The STOCH value of 61.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:JYEU.

Lendlease Global Commercial REIT Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
P40U	78 Outperform	$1.33B	12.08	6.62%	6.35%	0.70%	71.84%
JYEU	70 Neutral	S$1.82B	28.34	2.88%	8.08%	-6.64%	-12.15%
H13	69 Neutral	S$1.45B	9.61	4.10%	1.83%	-8.06%	―
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
AU8U	65 Neutral	S$1.35B	1,291.67	0.04%	6.62%	-8.59%	-93.48%
Q5T	65 Neutral	S$1.24B	34.38	1.92%	7.16%	-3.65%	-69.86%
ACV	62 Neutral	―	―	―	―	7.02%	-79.65%

Lendlease Global Commercial REIT Corporate Events

Lendlease REIT’s Successful Private Placement Boosts PLQ Mall Acquisition

Lendlease Global Commercial REIT successfully completed a private placement, raising approximately S$280 million, which was upsized from the initial S$270 million due to strong investor interest. The funds will primarily finance the acquisition of a 70% interest in PLQ mall, reflecting investor confidence in the company’s strategy and performance.

Lendlease Global Commercial REIT Amends Facility Agreement to Include New Term Loan

Lendlease Global Commercial REIT has amended its S$140 million facility agreement to include a new S$90 million term loan facility, which will be used for refinancing existing debts and financing asset enhancements and acquisitions. The agreement includes conditions that could lead to mandatory prepayment or default if certain ownership or management changes occur, but none of these events have transpired as of the announcement date.

Lendlease Global Commercial REIT Issues New Units for Management Fees

Lendlease Global Commercial REIT has announced the issuance of 29,719,181 new units to cover management and property management fees. This strategic move involves issuing 24,992,045 units for REIT management fees and 4,727,136 units for property management fees, reflecting the company’s approach to managing its financial obligations through equity rather than cash, potentially impacting its liquidity and shareholder value.

Lendlease Global Commercial REIT Boosts Occupancy in Milan

Lendlease Global Commercial REIT has signed a new lease with a US technology company at Building 3 in the Spark Business District, Milan, increasing the building’s occupancy to 49%. This development is part of ongoing efforts to transform the district into a vibrant business hub, with enhancements to building quality and a diverse tenant mix contributing to a dynamic environment.