They note that this was mainly due to higher-than-forecast interest expense, forming 91.3% of theirs and 94% of consensus’ forecasts.
Following Lendlease Global Commercial REIT’s (LREIT) FY2024 ended June results, analysts at CGS International (CGSI) and Citi Research have kept their respective “add” and “neutral” calls at lowered target prices of 74 cents and 58 cents from 83 cents and 61 cents previously.
CGSI analysts Natalie Ong and Lock Mun Yee note that the REIT’s FY2024 distribution per unit (DPU) was a miss, coming in at 3.87 cents which was 17.7% lower y-o-y.
