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Lendlease Global Commercial REIT
(SGX:JYEU)
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Rating:68Neutral
Price Target:
S$0.64
▲(11.93% Upside)
Action:Reiterated
Date:08/09/26
The score is primarily supported by steady financial performance with improved leverage versus prior peaks and consistent positive free cash flow, but tempered by earnings volatility and relatively weak cash-flow-to-debt coverage. Valuation is helped by a strong dividend yield, while technicals are neutral with only modest momentum and the price still below the 200-day average.
Positive Factors
Recurring Revenue Stability
The return to revenue growth supports the REIT’s recurring leasing model and indicates that its commercial properties continue to generate relatively stable income over the medium term.
Negative Factors
Weak Debt Coverage
Operating cash flow covers only a limited portion of total debt, leaving the REIT more exposed to refinancing needs and interest-rate changes that could pressure distributions and financial flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring Revenue Stability
The return to revenue growth supports the REIT’s recurring leasing model and indicates that its commercial properties continue to generate relatively stable income over the medium term.
Read all positive factors
Lendlease Global Commercial REIT (JYEU) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$1.86B
Dividend Yield6.66%
Average Volume (3M)12.60M
Price to Earnings (P/E)15.0
Beta (1Y)0.44
Revenue Growth3.58%
EPS Growth71.30%
CountrySG
Employees69
SectorReal Estate
Sector Strength53
IndustryREIT - Diversified
Share Statistics
EPS (TTM)0.04
Shares Outstanding3,327,029,300
10 Day Avg. Volume12,103,789
30 Day Avg. Volume12,603,036
Financial Highlights & Ratios
PEG Ratio0.21
Price to Book (P/B)0.63
Price to Sales (P/S)7.61
P/FCF Ratio13.48
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$0.73Price Target Upside28.51% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.03
Revenue Forecast (FY)S$243.80M
Lendlease Global Commercial REIT Business Overview & Revenue Model
Company Description
Launched on October 2, 2019, Lendlease Global Commercial REIT (LREIT) was created with a core strategy: to invest, either directly or indirectly, in a diverse range of stable, revenue-generating real estate assets worldwide. These properties are p...
How the Company Makes Money
The REIT makes money primarily by earning property income from its commercial real estate portfolio. Its key revenue stream is recurring rental income paid by tenants under lease agreements for office and retail/commercial space, which may include...
Lendlease Global Commercial REIT Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
67
Positive
Cash Flow
63
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 214.85M | 206.54M | 220.91M | 205.52M | 101.66M |
| Gross Profit | 135.10M | 127.49M | 149.86M | 135.13M | 70.87M |
| EBITDA | 177.02M | 139.09M | 134.28M | 131.94M | 161.39M |
| Net Income | 121.43M | 70.89M | 77.18M | 99.57M | 141.93M |
Balance Sheet | |||||
| Total Assets | 4.39B | 3.91B | 3.83B | 3.83B | 3.70B |
| Cash, Cash Equivalents and Short-Term Investments | 68.64M | 41.59M | 34.12M | 54.22M | 49.23M |
| Total Debt | 1.92B | 1.64B | 1.54B | 1.91B | 1.45B |
| Total Liabilities | 1.81B | 1.76B | 1.62B | 2.00B | 1.52B |
| Stockholders Equity | 2.58B | 2.15B | 2.21B | 1.83B | 2.17B |
Cash Flow | |||||
| Free Cash Flow | 121.31M | 147.40M | 121.16M | 120.56M | 90.75M |
| Operating Cash Flow | 121.31M | 162.65M | 128.81M | 120.72M | 95.23M |
| Investing Cash Flow | 155.67M | -11.16M | 475.00K | -93.36M | -1.85B |
| Financing Cash Flow | -248.08M | -145.01M | -149.26M | -22.21M | 1.55B |
Lendlease Global Commercial REIT Technical Analysis
Positive
0.57
Price Trends
0.56
Negative
0.56
Positive
0.57
Negative
Market Momentum
>-0.01
Positive
49.25
Neutral
30.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:JYEU, the sentiment is Positive. The current price of 0.57 is above the 20-day moving average (MA) of 0.56, above the 50-day MA of 0.56, and above the 200-day MA of 0.57, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 49.25 is Neutral, neither overbought nor oversold. The STOCH value of 30.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:JYEU.
Lendlease Global Commercial REIT Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | S$18.69B | 14.47 | 7.40% | 4.54% | 5.37% | 19.25% | |
68 Neutral | S$1.86B | 14.96 | 5.19% | 6.66% | 3.58% | 71.30% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | S$4.33B | 7.60 | 8.46% | 5.72% | 5.35% | 176.77% | |
64 Neutral | S$4.32B | 13.70 | 5.19% | 5.47% | 1.18% | ― | |
60 Neutral | S$6.56B | 26.00 | 2.71% | 6.44% | -4.05% | -57.18% | |
59 Neutral | S$1.97B | 59.17 | 1.12% | 7.07% | 6.52% | ― |
* Real Estate Sector Average
SG:JYEU
Lendlease Global Commercial REIT
0.56
-0.03
-5.93%
SG:K71U
Keppel REIT
0.86
-0.08
-8.99%
SG:C38U
CapitaLand Integrated Commercial Trust
2.34
0.14
6.32%
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Mapletree Pan Asia Commercial Trust
1.23
-0.11
-8.21%
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Suntec Real Estate Investment
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0.16
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0.36
0.04
11.99%
Lendlease Global Commercial REIT Corporate Events
Lendlease Global Commercial REIT Secures Tax Ruling on S$120m Perpetual Securities
Aug 11, 2026
Lendlease Global Commercial REIT has secured an advance tax ruling from the Inland Revenue Authority of Singapore on its S$120 million 4.28% perpetual securities issued under its S$1 billion multicurrency debt issuance programme. The securities wi...
Lendlease Global Commercial REIT Restructures PLQ Mall Holding for Tax Transparency
Jul 8, 2026
Lendlease Global Commercial REIT has converted its indirect wholly owned subsidiary Milano Central Pte. Ltd., which holds PLQ Mall, into a limited liability partnership named PLQM LLP in accordance with Singapore’s Limited Liability Partners...
Lendlease Global Commercial REIT Refreshes Board Leadership and Governance Structure
Jun 30, 2026
Lendlease Global Commercial REIT has reshaped its board leadership, appointing existing non-independent non-executive director Penelope Jane Ransom as chairperson of the board and member of the Audit and Risk Committee, succeeding Justin Marco Gab...
Lendlease Global Commercial REIT Issues Units to Pay Management and Property Fees
Jun 19, 2026
Lendlease Global Commercial REIT has issued 13,658,231 new units to satisfy management and property management fee payments for the quarters ended 30 September and 31 December 2025, instead of paying these fees in cash. The units, priced based on ...
Lendlease Global Commercial REIT Redeems S$200 Million Perpetual Securities
Jun 4, 2026
Lendlease Global Commercial REIT has fully redeemed its S$200 million 4.20% subordinated perpetual securities issued under its S$1 billion multicurrency debt issuance programme. The manager said the redemption price, including all accrued and addi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.