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 office buildings) in Milan. These five properties have a total net lettable area of approximately 2.1 million square feet, with an appraised value of S$3.65 billion as at 30 June 2023. 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 | 25.3x | 21.2x | 7.6x | |
PEG Ratio | −0.60 | −0.08 | 0.01 | |
Price/Book | 0.7x | 0.9x | 0.9x | |
Price / LTM Sales | 6.7x | 7.2x | 3.8x | |
Upside (Analyst Target) | 12.7% | 5.0% | 11.2% | |
Fair Value Upside | Unlock | −10.0% | 0.9% | Unlock |