The manager of Lendlease Global Commercial REIT (LREIT) has reported a distribution per unit (DPU) of 0.48 cents for 4Q20 ended June, 62.7% below its IPO forecast of 1.28 cents. The lower-than-forecasted DPU was mainly due to the rent waivers given to the REIT’s retail tenants.

Distributable income for the quarter came in at $5.7 million, 62.2% lower than its IPO forecast of $15.1 million.

This translates to an annualised distribution yield of 2.19%, 3.7 percentage points lower than its IPO forecast of 5.86%.

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