SEE: Lendlease Global Commercial REIT announces DPU of 2.34 cents for 1HFY2021
Tenant sales recovered to $50.8 million in 2QFY2021 (+20% q-o-q), while footfall improved to 7 million (excluding e-commerce sales and traffic). “While tenant sales/footfall are at 73%/61% of pre-Covid-19 levels in the same quarter, we expect the continued ramp-up in vaccine rolls-outs and the further relaxation of social-distancing measures to accelerate tenant sales and footfall,” says Eing. As at 12.30pm, units in LREIT are trading at 82 cents or 0.9 times FY2021 NAV with a distribution yield of 6.06%, according to PhillipCapital’s estimates.