SINGAPORE (Oct 15): Daiwa Capital Markets is initiating coverage on Lendlease Global Commercial REIT with an “outperform” rating and a target price of $1.01.
According to analyst David Lum, the REIT’s 12-month forward distribution per unit (DPU) yield of 5.6% is higher than the sector average of 5.1% among Singapore REITs – making it an attractive and viable investment option.
“With most commercial and retail S-REITs looking fully valued or overvalued, [Lendlease Global REIT] is our top pick in the S-REIT sector for its undemanding valuation and solid long-term deal pipeline,” says Lum.
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