Lendlease Global Commercial REIT Set to Benefit From Mall Acquisition -- Market Talk

Dow Jones
03/16

0617 GMT - Lendlease Global Commercial REIT stands to benefit from the acquisition of 100% stake in PLQ Mall in Singapore, Maybank Research's Liu Miaomiao says. The deal is pro-forma accretive to the REIT's distribution per unit and net asset value, while the 4.5% net property income yield exceeds that of peers, the analyst says in a research report. Further rental adjustment upside from the mall's ongoing reconfiguration is expected, and downtime should be minimal as work will be phased and rotated. With full ownership, the REIT can refinance at a lower rate, translating to around 40bps interest savings. Maybank Research raises the unit's target price to S$0.74 from S$0.71 with an unchanged buy rating. Units are unchanged at S$0.555. (ronnie.harui@wsj.com)

 

(END) Dow Jones Newswires

March 16, 2026 02:17 ET (06:17 GMT)

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