Lendlease Global Commercial REIT (Lendlease Global REIT)

PhillipCapital is initiating coverage on this retail REIT as shopping sentiment increases.

Investors may now use up to 35% of their investible savings in their CPF ordinary accounts to acquire units in the REIT.

CGS-CIMB has posted a buy call on Lendlease at a target price of 85.4 cents.

LREIT says a key benefit of the investment is to secure pre-emptive rights, which all existing investors have in the fund.

The brokerage's target price for LREIT is at 85.4 cents, which represents a 30.3% upside to its last closed price of 65.5 cents.

Lendlease SGR, which is a member of the Lendlease Group replaces REAM SGR S.p.A. from September 1.

Lion Global Investors, a subsidiary of Oversea-Chinese Banking Corporation (OCBC) has ceased to become a substantial shareholder in Lendlease Global Commercial REIT (LREIT), on Thursday.

As of June 22, there are 33 Singapore-listed REITs and property-related business trusts in the FTSE Singapore All Cap Index.

As Singapore gradually reopens from its circuit breaker measures, DBS analyst Derek Tan and its Singapore research team believe that retail REITs are the “preferred” sector due to earlier-than-anticipated mall openings.

Year-to-date ended March 31, LREIT reported a DPU of 2.57 cents, 1.9% higher than its forecast, and a distributable income of $30.0 million, 1.3% higher than expected.