Wolf Money(Lendlease Reit 1H23 result)

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Lendlease Reit announced a 2.1% increase in distribution income to 2.45c per unit. Occupancy rate is at 99.5% which is almost close to full capacity. Gearing fall from 39.4% to 39.2%. 61% of their borrow is hedged at fixed rate. Overall it was a reasonable performance given their borrowing rate went up due to rising interest rate. XD date is on the 14 February. Management sound a word of optimism. Estimated yield at current share price stands at just under 6.8% If a mirror image of the dpu payout is to be expected for full year.

Mr Kelvin Chow, Chief Executive Officer of the Manager, said, “We are delighted that LREIT has delivered another half-year of good performance. We have delivered consistent DPU growth since the listing of LREIT in 2019 and prospects for our properties remain healthy. We are optimistic that LREIT’s retail assets will benefit from China’s reopening to generate higher footfall and tenants’ sales for our retail properties. LREIT’s fully leased office assets will continue to enjoy stable cashflow.”


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All investments is highly speculative in nature and involves substantial risk of loss. We encourage our reader to invest very carefully. We also encourage reader to get personal advice from your professional investment advisor and to make independent investigations before acting on information that we publish. Much of our information is derived directly from information published by companies or submitted to governmental agencies on which we believe are reliable but are without our independent verification. Therefore, we cannot assure you that the information is accurate or complete. We do not in any way whatsoever warrant or guarantee the success of any action you take in reliance on our statements. All information provided are for education only. Buyer beware,do you own due diligence.

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