Listed on 2 October 2019, Lendlease Global Commercial REIT (“LREIT”) is established with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of stabilised income-producing real estate assets located globally, which are used primarily for retail and/or office purposes. Its portfolio comprises leasehold properties in Singapore namely Jem (an office and retail property) and 313@somerset (a prime retail property) as well as freehold interest in Sky Complex (three Grade A commercial buildings) in Milan. These five properties have a total net lettable area of approximately 2.0 million square feet, with an appraised value of S$3.68 billion as at 30 June 2024. Other investments include a stake in Parkway Parade (an office and retail property) and development of a multifunctional event space on a site adjacent to 313@somerset. LREIT is managed by Lendlease Global Commercial Trust Management Pte. Ltd., an indirect wholly-owned subsidiary of Lendlease Corporation Limited. Its key objectives are to provide unitholders with regular and stable distributions, achieve long-term growth in distribution per unit and net asset value per unit, and maintain an appropriate capital structure.
Metrics to compare | LEND | Sector Sector - Average of metrics from a broad group of related Real Estate sector companies | Relationship RelationshipLENDPeersSector | |
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P/E Ratio | 21.6x | 14.1x | 8.7x | |
PEG Ratio | −0.95 | 0.04 | 0.01 | |
Price/Book | 0.6x | 0.7x | 0.9x | |
Price / LTM Sales | 6.0x | 6.4x | 3.8x | |
Upside (Analyst Target) | 38.0% | 13.7% | 13.8% | |
Fair Value Upside | Unlock | −1.1% | −5.1% | Unlock |