Lendlease Global Commercial REIT (LREIT)

The analysts have identified some of the REITs as their top picks including FCT, Ascendas REIT, CICT and MCT.

The works for the redevelopment are expected to be completed by the first half of 2022.

With shopping sentiment maintaining a positive traction, LREIT is on its road to recovery.

As financial markets continue to rebound from the impact of Covid-19, several S-REITs could ride on the recovery.

The analysts have called LREIT a “laggard” that has an attractive yield spread and discount to net asset value (NAV).

The analysts are also positive on FCT, CICT (formerly CMT) and LREIT with "buy" recommendations on all three S-REITs.

The manager of LREIT intends to distribute 100% of its adjusted cash netflow from operations for the period ending June 30, 2021.

Analyst Derek Tan likens the REIT to a “lotus flower in bloom” in a September 17 note.

This translates to an annualised distribution yield of 2.19%, 3.7 percentage points lower than its IPO forecast of 5.86%.

The earlier-than-expected reopening of phase 2 that will take place this Friday (June 19) came as a “positive surprise” for the retail sector, according to DBS analyst Derek Tan and the Singapore research team.