Lendlease REIT
- Thread starter o0KelviN0o
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I say I waiting lor. I suspect CDP also ask for monies so those broker do own maths rugi take ppl 2-3 cannot cover so cannot
For SG shares see your shares appear under your name shiok and safe? It is like you buy something and receipt open in your name kinda feeling.
Overture1928
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I think also a lot of laojiaos have been using traditional brokers instead of custodians.
Also if you want to swap between brokers or apps, you may want to experience the ease of consolidation.
I have some friends who were using SCB then Moo Moo, I think they lost track of some of these corporate actions too.
CaptainTeo
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I also use broker to buy. Though expensive but they know their stuff well. U ask those experience one will share with u information
Just to check, we are supposed to receive the following dividends last week right?
SGD 0.01 per security/unit
SGD 0.00804 Per Security/unit
SGD 0.003331 Per Security/unit
For some reason I didn't received the SGD 0.01 dividend.
Anyone has the same issue?
SGD 0.01 per security/unit
SGD 0.00804 Per Security/unit
SGD 0.003331 Per Security/unit
For some reason I didn't received the SGD 0.01 dividend.
Anyone has the same issue?
reddevil0728
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where you see the 0.01?
On the SGX website.
There are 3 tiers of dividends reported.
Can also check on this website
https://www.dividends.sg/view/JYEU
reddevil0728
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The 1 cent dividend in the system was the approximate advanced distribution announced on 22 March 2022.
https://links.sgx.com/FileOpen/Advanced Distribution-SGPC0VQ4SD.ashx?App=Announcement&FileID=707865
Subsequently the actual advanced distribution was announced as 1.1371 cents, which is the 0.8040 + 0.3331 dividends.
Hence there is no actual 1 cent dividend paid out, only the latter two.
May I add ...IPO and stock split also won't be reflected in brokerage portfolioJust to add to what addict has said, even if you use one and only one brokerage your entire trading life, it will never be 100% accurate.
Because it will be unable to account for the things that you are currently experiencing nowPreferential Offering.
reddevil0728
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It is always more accurate to refer to the exact quatertly/semi-annual dividend announcement from the company itself and read carefully, rather than to go SGX -> Counter -> Dividend section.
Such "discrepancies" or "problems" have been mentioned several times in other REITs as well. Here is one example in the FLCT thread.
https://forums.hardwarezone.com.sg/...icial-sgx-buou.5385859/page-71#post-136176779
Last edited:
Same date as per the rest of the dividends announced on 22 Mar 22.
reddevil0728
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No what
DIVIDEND
ANNOUNCED ON 2022-03-22
0.01https://links.sgx.com/1.0.0/corporate-actions/965469
DIVIDEND
ANNOUNCED ON 2022-04-04
0.003331https://links.sgx.com/1.0.0/corporate-actions/965508
DIVIDEND
ANNOUNCED ON 2022-04-04
0.00804https://links.sgx.com/1.0.0/corporate-actions/965509
and did you read this?
https://links.sgx.com/1.0.0/corpora...6b33da1124e604242eb13256e28f6b62d54439666258c
Shion
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Lendlease REIT reports portfolio occupancy of 99.9% in 3QFY2022 update
https://www.theedgesingapore.com/ca...ports-portfolio-occupancy-999-3qfy2022-update
The manager of Lendlease Global Commercial REIT (LREIT) has reported a portfolio occupancy of 99.9% for the 3QFY2022 ended March. The occupancy rate stood stable q-o-q.
The REIT’s weighted average lease expiry (WALE) stood at 8.2 years by net lettable area (NLA) and 4.3 years by gross rental income (GRI) as at March 31.
According to the manager, the leases due for renewal in the FY2022 have been “substantially de-risked” to 1% by NLA and 3% by GRI.
During the quarter, tenant sales year-to-date (y-t-d) for the REIT’s retail portfolio have recovered to near its pre-Covid-19 levels in FY2020.
The manager adds it sees 313@Somerset benefitting from the reopening, on the back of the resumption of social activities, as well as the launch of the Vaccinated Travel Framework.
Its office portfolio has continued to generate stable revenue.
As LREIT’s Sky Complex operates on a triple-net lease structure with annual rental escalation based on the consumer price index, rising energy costs and inflation will not impact the property.
As at March 31, LREIT reported gross borrowings of $656.9 million with a gearing ratio of 27.7%. The gearing ratio will go up to 40.7% following the completion of the acquisition of Jem.
The REIT has a weighted average debt maturity of 1.8 years and an interest coverage ratio of 10.3x.
Kelvin Chow, CEO of the manager says, “FY2022 is a transformational year for LREIT. We successfully raised $1.7 billion to acquire 100% of Jem, which strengthens LREIT’s position amongst its peers, setting the stage for an exciting phase of growth. Moving forward, we are focused on active capital management to manage cost and gearing as well as executing our strategies to drive LREIT’s growth and to optimise returns to our unitholders.”
Further to its statement, the REIT manager announced that LREIT will be making distributions to its unitholders semi-annually and will distribute at least 90.0% of its adjusted net cashflow from operations for each financial year.
The actual level of distribution will be determined at the manager’s discretion.
Units in LREIT closed 1 cent lower or 1.26% down at 78.5 cents on May 4.
Shion
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Analysts positive on Lendlease REIT amid strengthened tenant mix with refreshed offerings
https://www.theedgesingapore.com/ca...e-reit-amid-strengthened-tenant-mix-refreshed
Analysts are mostly positive on Lendlease Global Commercial REIT (LREIT) in light of the help of tailwinds from recent reopening measures.
The REIT released its business update for the 3QFY2022 ended March on May 5. In the update, it revealed an unchanged portfolio occupancy of 99.9% as at March 31.
Its tenant sales year-to-date (y-t-d) at 313@Somerset have also recovered close to its FY2020 levels, says the REIT.
Recovery intact, says CGS-CIMB
Following the update, CGS-CIMB Research analyst Lock Mun Yee has kept an “add” rating on LREIT with slightly lower target price of $1.05 from $1.07.
In her May 5 report, Lock notes how LREIT continued to adopt a proactive leasing strategy and strengthened the tenancy mix 313@somerset, including changing the food court operator during the quarter, when LREIT saw positive leasing momentum at the mall.
The analyst also foresees the impact of new contributions from Jem to be expected to be felt from 4QFY2022 onwards.
On this, Lock has adjusted her FY2023-FY2024 distribution per unit (DPU) estimates up by 0.26%-0.87% following the update.
“LREIT’s visible DPU growth will be underpinned by annual rental escalations in approximately 60% of the mall’s NLA, the long lease at Sky Complex, the redevelopment of Grange Road carpark as well as the full impact of contributions from Jem,” says Lock.
PhillipCapital upgrades LREIT to ‘buy’
PhillipCapital analyst Natalie Ong has upgraded LREIT’s rating to “buy” from “accumulate”, with a higher target price of $1.05 from 94 cents.
The analyst sees rental growth on the back of positive reversions, seeing that both 313@somerset and Jem are in positive territory.
“Additionally, we can see approximately 5% of escalation on Sky Complex's rent in Apr, using March's CPI growth as an indication, ” says Ong.
However, the analyst notes that although tenant sales have recovered slightly, they are still below pre-Covid-19 levels due to absence of tourists. An example would be how tenant sales at 313@somerset dipped 3.3% y-o-y due to the dine-in cap of five pax in 3QFY2022.
At the same time, footfall and tenant sales at Jem have surpassed pre-Covid-19 levels, the latter coming in at 110% of 2019's levels.
The analyst nevertheless is optimistic that the lifting of workplace capacity to 100% should bring more footfall to both Jem and 313@somerset, which are located near offices, and could further uplift tenant sales.
To this end, Ong has lifted her DPU estimates for FY2022 to FY2026 by 0.6% to 3.8% to factor in the issuance of perpetual securities.
In addition, she has lowered her cost of equity (COE) estimates from 7.7% to 7.0% to “reflect the lower risk associated with its predominantly Singapore-focused portfolio post-acquisition of Jem.
“LREIT’s portfolio is anchored by JEM and 313@Somerset, which are dominant malls in their respective catchments and will benefit from return to office and tourist visits,” she says.
LREIT has ‘attractive’ dividend yield of 7% for FY2023
UOB Kay Hian analyst Jonathan Koh has kept a “buy” rating on LREIT with an unchanged target price of $1.05.
Koh notes how LREIT will be deploying bonus gross floor area (GFA) for new tenancies on prime spaces.
This is seen at 313@somerset, which has an untapped GFA of 10,860 sq ft due to the increase in permissible plot ratio from 4.9 to 5.6.
LREIT has utilised 660 sq ft of the untapped GFA to expand leasable space at two prime units at the ground floor leased to Puma (sportswear) and Ohayo Mama San (concept cafe).
The remaining untapped GFA of 10,200 sq ft will be deployed during fit-out periods for new tenants to avoid disruption to the operations of other tenants.
The analyst also recognises how LREIT plans to grow through acquisitions by tapping on the rights of first refusal (ROFR) provided by its sponsor, in light of how Lendlease Group has a strong presence in Singapore through Paya Lebar Quarter (30% stake) and Parkway Parade (10.2% stake).
The analyst has raised his existing FY2023 DPU forecast by 3% as equity fund raising was downsized by 23%.
To him, LREIT will benefit from the full contribution and tax transparency from Jem in FY2023 as the acquisition of its remaining stake was completed in April 22. LREIT provides an attractive distribution yield of 7% for the FY2023, in Koh’s view.
Citi looks forward to return of tourists for LREIT
Citibank Group Research analyst Brandon Lee has also kept a “buy” rating on LREIT with an unchanged target price of 97 cents.
This is likely due to LREIT hedging close to 100% of its overseas income from Sky Complex on a rolling 1.5-yr basis, with hedged Euro to Singapore dollar rate of 1.6+ relatively higher than the latest 1.46, as Lee notes.
However, while debt cost inched up 6 basis points (bps) q-o-q to 0.98%, LREIT’s high proportion of hedged/fixed debt of approximately 90% implies FY2022 DPU will fall approximately 1% for every 50bps rise in interest rate, according to the analyst’s estimates.
“We see muted share price reaction on limited financial metrics, but with investors continuing to favor re-opening S-REITs, LREIT represents a viable alternative,” says Lee.
As at 11.33am, LREIT is trading flat at 80 cents at a FY2022 P/B ratio of 0.66x and dividend yield of 5.89% according to CGS-CIMB’s estimates.
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