Lendlease REIT

[starbugs]

Lendlease Global Commercial Reit H1 DPU up 2.1% to S$0.0245

TUE, FEB 07, 2023 - 06:49 PM

THE manager of Lendlease Global Commercial Reit : JYEU 0% (Lendlease Reit) posted distribution per unit (DPU) of S$0.0245 for the first half FY2023 ended December 2022, up 2.1 per cent from S$0.024 in the corresponding period a year ago.

Distributable income rose 95.9 per cent to S$56 million, from S$28.6 million in the previous year.

Gross revenue more than doubled to S$101.7 million in H1 FY2023, from S$39.2 million in H1 FY2022. The increase was mainly due to contributions from Jem, which was acquired in April 2022, as well as the easing of Covid-19 measures.

This was partly offset by lower revenue from the Sky Complex office asset in Milan due to a weaker euro against the Singapore dollar.

Net property income surged to S$76.4 million, from S$29.6 million.

The DPU for H1 will be paid out on Mar 30.

https://www.businesstimes.com.sg/companies-markets/lendlease-global-commercial-reit-h1-dpu-21-s00245

 

[DevilPlate]

Bought some at 69 cts (nice number) hehe

~7% yield is quite decent.
Mainly buy into Jem though (concentration risk).

 

[Seah.tt]

Bought some at 69 cts (nice number) hehe

~7% yield is quite decent.
Mainly buy into Jem though (concentration risk).

Watching but didn't pull the trigger yet. Feel this is too gd to be true...

 

[DevilPlate]

Watching but didn't pull the trigger yet. Feel this is too gd to be true...

Few concerns which may have already priced in.
High gearing of 39-40% and short weighted ave debt maturity of 2.6 years.

CEO sold ~600k shares Q3 last yr at 83 cts doesn’t help either.

 

[reddevil0728]

https://www.lendleaseglobalcommerci.../2023/announcement-of-resignation-of-egmf.pdf

 

[hound297]

https://www.lendleaseglobalcommerci.../2023/announcement-of-resignation-of-egmf.pdf

Wow. Finance manager resigning.

 

[reddevil0728]

Wow. Finance manager resigning.

Not just normal finance manager leh.

is EGMF

 

[duhduhduh]

Eh whats with their mailer to enoucrage people to go for SCRIP?

 

[reddevil0728]

Eh whats with their mailer to enoucrage people to go for SCRIP?

what's the issue with that?

 

[starbugs]

The DRP is worth taking up at current price vs subscription price of 67.88c.

Do note that the calculation for distribution has two components and you want the scrips to add up to a nice number (rounded down to nearest 100). Here's the table of units to elect for DRP if you want to avoid odd lots. Please verify with your own calculations.

Elect	Receive
2789​	100​
5545​	200​
8333​	300​
11089​	400​
13877​	500​
16633​	600​
19421​	700​
22177​	800​
24961​	900​
27721​	1000​
30490​	1100​
33265​	1200​
36020​	1300​
38809​	1400​
41564​	1500​
44353​	1600​
47108​	1700​
49897​	1800​
52653​	1900​
55441​	2000​
58197​	2100​
60979​	2200​
63741​	2300​
66507​	2400​
69285​	2500​
72040​	2600​
74829​	2700​
77584​	2800​
80373​	2900​
83128​	3000​
85917​	3100​
88672​	3200​
91461​	3300​
94216​	3400​
96996​	3500​
99761​	3600​
102524​	3700​

 

[mata_hippo]

The DRP is worth taking up at current price vs subscription price of 67.88c.

Do note that the calculation for distribution has two components and you want the scrips to add up to a nice number (rounded down to nearest 100). Here's the table of units to elect for DRP if you want to avoid odd lots. Please verify with your own calculations.

Elect	Receive
2789​	100​
5545​	200​
8333​	300​
11089​	400​
13877​	500​
16633​	600​
19421​	700​
22177​	800​
24961​	900​
27721​	1000​
30490​	1100​
33265​	1200​
36020​	1300​
38809​	1400​
41564​	1500​
44353​	1600​
47108​	1700​
49897​	1800​
52653​	1900​
55441​	2000​
58197​	2100​
60979​	2200​
63741​	2300​
66507​	2400​
69285​	2500​
72040​	2600​
74829​	2700​
77584​	2800​
80373​	2900​
83128​	3000​
85917​	3100​
88672​	3200​
91461​	3300​
94216​	3400​
96996​	3500​
99761​	3600​
102524​	3700​

thanks for this, i look at their formula i see stars

 

[osbron]

I have a different calculation :/ Did I make any mistakes?

Shares	Participating Units
100	2771
200	5542
300	8313
400	11083
500	13854

EDIT: The calculations in this table are incorrect. Please do not refer to these calculations

 

[wira]

can you choose to elect for dividend scrip for certain number of units only and the rest receive as cash to avoid odd lots ?

For DBS custodian, i can only choose dividend cash or dividend scrip. thats all

 

[starbugs]

can you choose to elect for dividend scrip for certain number of units only and the rest receive as cash to avoid odd lots ?

For DBS custodian, i can only choose dividend cash or dividend scrip. thats all

Not all brokers allow partial scrip selection. FSM and Stanchart allow. My OCBC custodian doesn't and I suppose DBS doesn't either.

 

[starbugs]

I have a different calculation :/ Did I make any mistakes?

Shares	Participating Units
100	2771
200	5542
300	8313
400	11083
500	13854

You need to round down the scrip number for each of the two components of the dividend, then add the two rounded numbers together.

 

[osbron]

You need to round down the scrip number for each of the two components of the dividend, then add the two rounded numbers together.

Thank you, I understand now

I got the same calculations as you now

Elect	Receive
2789	100
5545	200
8333	300
11089	400
13877	500
16633	600
19421	700
22177	800
24961	900
27721	1000

 

[hmyoth]

Thank you, I understand now

I got the same calculations as you now

Elect	Receive
2789	100
5545	200
8333	300
11089	400
13877	500
16633	600
19421	700
22177	800
24961	900
27721	1000

So if I have 10000 shares .
On the form I fill in 1) 10000 , 2) 8333, 3) 1667. Correct?

 

[jtsh55]

So if I have 10000 shares .
On the form I fill in 1) 10000 , 2) 8333, 3) 1667. Correct?

You just need to input 8333 to receive as scrip shares and 1667 to receive as cash, that's all.

 

[wira]

Not all brokers allow partial scrip selection. FSM and Stanchart allow. My OCBC custodian doesn't and I suppose DBS doesn't either.

hmm ..thanks.
i guess i have to choose dividend cash then else will have odd lots and troublesome sell next time

 

[osbron]

Made this scrip calculator for you to calculate the amount of scrip to elect to avoid odd lots. Also shows you the amount you'll lose due to rounding for each tier.

Although the utmost care has been taken in coding this correctly, please still DYODD and verify with your calculations

https://jsfiddle.net/kc9rjb0n/show?a=1

You're welcome