Lendlease REIT

[abutan]

Anyone knows why there was a capital top-up to the DPU?

 

[JustTrade]

Erm…. did i say i wanna buy?

Then don’t bother to ask bro.

 

[Pannawang]

I guess I won't be averaging out this reit but will hold till it bounce bk.

Will watch for ascendas reit instead

 

[Pocoyoz]

https://www.dbs.com.sg/treasures/aics/templatedata/article/recentdevelopment/data/en/DBSV/032020/LREIT_SP_03182020.xml

We hosted a management call for Lendlease Global Commercial REIT with investors: Key feedback are:

 (-) Tenant support package at 313@somerset

The manager will disburse a variety of tenant support measures to boost traffic and to assist tenants who are impacted by the current covid-19 outbreak. Some of these tenant support measures include a rental abatement in the range of 0.2-0.4 months per month for April and May 2020, which will be given on a selected basis to affected tenants.LLGCR will also be passing on the full savings from the 15% property tax rebate announced in Singapore Budget 2020.

 (+/-)  Sky Italia remains a strong credit worthy tenant.  

Broader macro risk shrouds Italy as it is the second worst affected country after China by the COVID-19 outbreak.In a bid to minimise operational disruptions, LLGCR’s largest and sole tenant at Sky Complex (Milan), has activated business contingency plans.The commercial lease is grounded by a triple net lease structure, with a long lease term expiring in 2032, and we see zero rental escalations (pegged to ISTAT consumer price index) as a bear-case scenario.Rental payments from Sky Italia had been made on a timely manner with no arrears due and remains a tenant with high creditworthiness.

(+)  Resilient rents underpinned by tenant stickiness and highly fixed income structure

Vast majority of the c.33% of rental leases by GRI expiring in FY20 (year end June) had been renewed;Shopper traffic for February at the mall dipped c.15% y-o-y and was made largely stable by 313@somerset’s diversification away from tourist footfall and expenditure;Trade sectors that saw the most impact include the jewellery & watches and souvenir & gift trade sectors (less than 5% of GRI);Given 313@somerset’s high tenant retention ratio of more than 99% and largely fixed rental revenue (>95%) that is cushioned from an immediately dip in tenant sales.

Revision of estimates

We revised our FY20 DPU to 5.1 Scts to reflect the downside risk, estimated to be -5.5%, which comprises our assumption of 0.5 month of tenant rebates and loss of GTO for 2 months.Our TP is revised down to S$0.95 on the back of a change in discount rates (higher beta and lower risk free rates).

(+/-)  313@somerset priced at 40% below appraised value

Based on the last closing price of S$0.48, we estimate that the market is pricing 313@Somerset at S$2,400 psf or an implied yield of 6.3%.This is c.40% below its appraised value and is attractive when compared against valuations of Orchard Road malls, which are in excess of S$3,500 psf.

Sent from Amazon using GAGT

 

[starbugs]

Anyone visited 313 lately? How's the footfall?

The tenant support package seems quite low compared to other malls. Don't know whether the tenants can survive

 

[endlssorrow]

Nvm buy first talk later

 

[Pocoyoz]

CEO bought 20k at 0.475
in additional to 20k @ 0.84

 

[Red Nails]

CEO bought 20k at 0.475
in additional to 20k @ 0.84

Kelvin?

 

[Raynon]

CEO bought 20k at 0.475
in additional to 20k @ 0.84

Ceo buy so little ? Total 40k share or 40k lot (equivalent to 4000000 share)?

 

[Pocoyoz]

Kelvin?

MR KELVIN CHOW

Ceo buy so little ? Total 40k share or 40k lot (equivalent to 4000000 share)?

he scared will drop by half again

 

[Pocoyoz]

Anyone visited 313 lately? How's the footfall?

The tenant support package seems quite low compared to other malls. Don't know whether the tenants can survive

https://www.spaceout.gov.sg/

can check here

 

[Pocoyoz]

https://www.sgxacademy.com/event/sgx-reitas-webinar-lendlease-global-reit/

 

[5408854088]

lately some of their cornerstone investors are offloading their shares..

 

[Pannawang]

Today chart of this stock is sideway

 

[thisislife]

waht's the dividend yield?>

 

[Shion]

Lendlease Global Reit posts Q3 DPU of 1.28 S cents, 0.7% above IPO forecast

Lendlease Global Reit posts Q3 DPU of 1.28 S cents, 0.7% above IPO forecast

https://www.businesstimes.com.sg/co...s-q3-dpu-of-128-s-cents-07-above-ipo-forecast

LENDLEASE Global Commercial Reit has posted a distribution per unit (DPU) of 1.28 Singapore cents for the third quarter ended March 31, 0.7 per cent higher than the manager's initial public offering (IPO) forecast of 1.27 cents.

Gross revenue stood at S$21.7 million for the quarter, up 2.2 per cent from the IPO forecast of S$21.2 million. This was mainly driven by rental income from 313@somerset and higher contributions from Sky Complex in Milan due to the pick-up in the euro against the Singapore dollar, the manager said in the Reit's financial results release on Tuesday.

Net property income was S$16.6 million, 4 per cent more than the IPO forecast of S$16 million, largely due to higher gross revenue and lower property operating expenses.

Distributable income to unitholders was at S$15 million, up 0.2 per cent from the IPO forecast of S$14.9 million.

No distribution has been declared for the period as the Reit intends to make distributions to unitholders on a semi-annual basis for every six-month period ending Dec 31 and June 30.

The manager said the rental relief provided to tenants affected by the Covid-19 pandemic will weigh on the Reit's performance in the coming quarters.

The severity of the impact of Singapore's "circuit-breaker" measures on tenants' operations and income also cannot be determined at this point. Whether they can fulfil their rental obligations after the temporary relief period also remains uncertain.

Kelvin Chow, chief executive of the Reit's manager, said the measures implemented will inevitably affect footfall and tenant sales at 313@somerset.

"While the duration of the closures is uncertain, we remain committed to helping our tenants during this tough time. In the next few months, we will focus on managing operating expenses and adopting flexible leasing strategies to maintain occupancy," he added.

Sky Complex, meanwhile, is expected to remain resilient due to its triple-net lease structure which minimises operational costs and risks for the Reit. A single tenant fully occupies the property.

"While the majority of the tenant's employees are working from home, broadcasting – without live audiences – is still taking place in the buildings," Mr Chow said.

Lendlease Global Reit units were trading S$0.02 or 3.6 per cent higher at S$0.58 as at 9.22am on Tuesday, after the results were announced.

 

[Raynon]

Lendlease Global Reit posts Q3 DPU of 1.28 S cents, 0.7% above IPO forecast

https://www.businesstimes.com.sg/co...s-q3-dpu-of-128-s-cents-07-above-ipo-forecast

LENDLEASE Global Commercial Reit has posted a distribution per unit (DPU) of 1.28 Singapore cents for the third quarter ended March 31, 0.7 per cent higher than the manager's initial public offering (IPO) forecast of 1.27 cents.

Gross revenue stood at S$21.7 million for the quarter, up 2.2 per cent from the IPO forecast of S$21.2 million. This was mainly driven by rental income from 313@somerset and higher contributions from Sky Complex in Milan due to the pick-up in the euro against the Singapore dollar, the manager said in the Reit's financial results release on Tuesday.

Net property income was S$16.6 million, 4 per cent more than the IPO forecast of S$16 million, largely due to higher gross revenue and lower property operating expenses.

Distributable income to unitholders was at S$15 million, up 0.2 per cent from the IPO forecast of S$14.9 million.

No distribution has been declared for the period as the Reit intends to make distributions to unitholders on a semi-annual basis for every six-month period ending Dec 31 and June 30.

The manager said the rental relief provided to tenants affected by the Covid-19 pandemic will weigh on the Reit's performance in the coming quarters.

The severity of the impact of Singapore's "circuit-breaker" measures on tenants' operations and income also cannot be determined at this point. Whether they can fulfil their rental obligations after the temporary relief period also remains uncertain.

Kelvin Chow, chief executive of the Reit's manager, said the measures implemented will inevitably affect footfall and tenant sales at 313@somerset.

"While the duration of the closures is uncertain, we remain committed to helping our tenants during this tough time. In the next few months, we will focus on managing operating expenses and adopting flexible leasing strategies to maintain occupancy," he added.

Sky Complex, meanwhile, is expected to remain resilient due to its triple-net lease structure which minimises operational costs and risks for the Reit. A single tenant fully occupies the property.

"While the majority of the tenant's employees are working from home, broadcasting – without live audiences – is still taking place in the buildings," Mr Chow said.

Lendlease Global Reit units were trading S$0.02 or 3.6 per cent higher at S$0.58 as at 9.22am on Tuesday, after the results were announced.

Can buy at $0.57?

 

[hkchew03]

Can buy at $0.57?

any price also can buy

 

[Andrew833]

Can buy at $0.57?

For long term can buy. But not enough data to compare with other reits.

 

[Pocoyoz]

great eastern still selling