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Lendlease Global Commercial REIT (SG:JYEU)
SGX:JYEU
Singapore Market

Lendlease Global Commercial REIT (JYEU) AI Stock Analysis

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Lendlease Global Commercial REIT

(SGX:JYEU)

Rating:67Neutral
Price Target:
S$0.50
▲(0.00%Upside)
Lendlease Global Commercial REIT's overall stock score is driven by strong financial performance, particularly in revenue growth and operational efficiency, despite high liabilities. The technical analysis presents a neutral outlook with mixed indicators. The stock's valuation is supported by a high dividend yield, although the P/E ratio suggests potential overvaluation. The absence of earnings call and corporate events data limits additional insights.
Positive Factors
Financial Stability
Secured refinancing for the remainder of SGD-denominated debt indicates financial stability.
Rental Performance
Strong rental reversions within Singapore retail leases indicate a positive rent uplift from office leases.
Negative Factors
Interest Rates
A higher-for-longer interest rate environment could prompt a cut in estimates.
Retail Performance
Retail portfolio tenant sales and shopper traffic fell due to a softer retail landscape and weaker trade sectors.

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 derived from its portfolio of commercial properties. This includes leasing retail spaces in shopping centers and office spaces in commercial buildings. The company benefits from long-term lease agreements with tenants, which provide consistent revenue streams. Additionally, Lendlease Global Commercial REIT may also generate income through property management fees and capital appreciation from strategic property acquisitions and developments. Significant partnerships with retail and corporate tenants, as well as a focus on sustainable and innovative property solutions, contribute to its earnings by enhancing property value and tenant retention.

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.
Breakdown
TTMJun 2024Jun 2023Jun 2022Jun 2021Jun 2020
Income StatementTotal Revenue
204.44M220.91M205.52M101.66M78.18M56.07M
Gross Profit
132.16M149.86M135.13M70.87M53.68M35.23M
EBIT
125.83M143.52M133.41M146.27M1.55M29.73M
EBITDA
127.94M131.73M131.94M146.27M1.55M29.73M
Net Income Common Stockholders
76.07M77.18M99.57M141.93M-1.94M-8.62M
Balance SheetCash, Cash Equivalents and Short-Term Investments
45.33M34.12M54.22M49.23M249.26M83.68M
Total Assets
3.83B3.83B3.83B3.70B1.74B1.56B
Total Debt
1.56B1.54B1.91B1.45B545.09M529.00M
Net Debt
1.51B1.50B1.86B1.40B295.83M445.32M
Total Liabilities
1.63B1.62B2.00B1.52B580.32M563.25M
Stockholders Equity
2.20B2.21B1.83B2.17B1.16B992.25M
Cash FlowFree Cash Flow
113.58M121.16M120.56M90.75M65.04M14.12M
Operating Cash Flow
113.58M128.81M120.72M95.23M66.51M14.12M
Investing Cash Flow
-3.88M475.00K-93.36M-1.85B-47.29M-1.45B
Financing Cash Flow
-125.28M-149.26M-22.21M1.55B145.83M1.52B

Lendlease Global Commercial REIT Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.50
Price Trends
50DMA
0.50
Positive
100DMA
0.50
Negative
200DMA
0.53
Negative
Market Momentum
MACD
>-0.01
Negative
RSI
61.79
Neutral
STOCH
77.14
Neutral
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 0.5 is above the 20-day moving average (MA) of 0.49, above the 50-day MA of 0.50, and below the 200-day MA of 0.53, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 61.79 is Neutral, neither overbought nor oversold. The STOCH value of 77.14 is Neutral, 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 (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
67
Neutral
S$1.20B20.333.16%7.33%-8.34%-22.51%
61
Neutral
$2.86B10.960.41%6.08%5.73%-21.25%
$909.71M17.224.09%7.23%
67
Neutral
S$1.20B79.35-0.91%7.65%-7.66%-145.74%
SGACV
62
Neutral
S$1.35B74.471.45%2.93%7.02%-79.65%
SGH13
S$1.32B12.063.01%2.01%
SGQ5T
61
Neutral
S$1.14B24.352.51%7.36%0.84%-64.42%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SG:JYEU
Lendlease Global Commercial REIT
0.50
-0.03
-5.66%
SGLMF
Starhill Global Real Estate Investment
0.38
0.05
15.15%
SG:ACV
Frasers Hospitality Trust
0.70
0.28
66.67%
SG:AU8U
CapitaLand China Trust
0.70
0.09
14.75%
SG:H13
Ho Bee Land Limited
2.10
0.34
19.32%
SG:Q5T
Far East Hospitality Trust
0.57
0.00
0.00%

Lendlease Global Commercial REIT Corporate Events

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.

Lendlease Global Commercial REIT Issues New Units for Management Fees
Mar 14, 2025

Lendlease Global Commercial Trust Management Pte. Ltd., as the manager of Lendlease Global Commercial REIT, announced the issuance of 14,544,855 new units in the REIT. This issuance includes 9,132,558 units as payment for management fees, with the units’ value determined by the average trading price on the Singapore Exchange. The issuance reflects the company’s strategy to manage its financial obligations and maintain liquidity, potentially impacting its market positioning and stakeholder interests.

Lendlease Global Commercial REIT to Redeem S$200 Million Perpetual Securities
Mar 12, 2025

Lendlease Global Commercial REIT has announced the redemption of S$200 million worth of 5.25% subordinated perpetual securities. This strategic financial move, scheduled for April 11, 2025, underlines the company’s commitment to optimizing its capital structure and potentially enhancing its financial flexibility, which could positively impact stakeholders and its market positioning.

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.