“1HFY2025 DPU decreased by a corresponding 14.3% y-o-y to 1.80 cents, representing around 50% of our full-year estimates but falling below consensus estimates of 3.90 cents for FY2025,” write the analysts in their Feb 5 report.
DBS Group Research (DBS) analysts Geraldine Wong and Derek Tan have kept their “buy” call on Lendlease Global Commercial REIT (SGX:JYEU
) (LREIT) at a lowered target price (TP) of 75 cents from 90 cents previously.
Following the results of the REIT’s 1HFY2025 ended December 2024 results, Wong and Tan expect its Singapore assets to continue to be the key driver of distribution per unit (DPU), with the expectation of strong rental reversions in the range of a high single-digit or above for both office and retail lease renewals in FY2025.
