Analysts are positive on Lendlease Global Commercial REIT (LREIT) following its latest 1HFY2021 results announcement, which saw distribution per unit (DPU) increase by 0.8% y-o-y to 2.34 cents, with distributable income (DI) increasing by 1.4% y-o-y to $27.5 million.

Gross revenue increased by 3.2% y-o-y to $41.6 million, bringing net property income (NPI) for the first half ended December to $30.4 million, 1.6% higher y-o-y.

Portfolio occupancy remained high at 99.7% as at Dec 31, 2020, with a long weighted average lease expiry (WALE) of 9.3 years by NLA and 4.9 years by gross rental income (GRI). Approximately 2% and 6% of the portfolio net lettable asset (NLA) and GRI remain for renewal and review, respectively, in FY2021.

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