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What is the DRP unit price, can share thanks
Thank you very much for the advise!
You may opt for DRP of amount (N*100*0.5158) and remainings for cash.
Arloji ( Date: 20-Aug-2024 18:29) Posted:
| Hi, can anyone advice how to get whole number if I want to opt for script instead of cash? Hope to avoid a situation where I end up with unit shares. Thanks! |
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Hi, can anyone advice how to get whole number if I want to opt for script instead of cash? Hope to avoid a situation where I end up with unit shares. Thanks!
Waiting for DRP letter, haha get new units in before rate cut.
Currently their DPU down coz of interest rates. Their business (eg. mall revenue and rental) side is super super strong. So if rate cut = their cost of business will go down = their capital increase
Mark001 ( Date: 20-Aug-2024 09:00) Posted:
Anyone knows the impact of 0.5% rate cut on LL reit?
Mark001 ( Date: 16-Aug-2024 16:45) Posted:
My expectation: 0.5% cut by Sep, 1% cut in total for 2024.
Who can count the impact of 0.5% cut on LL?
Pls shar |
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Anyone knows the impact of 0.5% rate cut on LL reit?
Mark001 ( Date: 16-Aug-2024 16:45) Posted:
My expectation: 0.5% cut by Sep, 1% cut in total for 2024.
Who can count the impact of 0.5% cut on LL?
Pls share
HVRRVH ( Date: 16-Aug-2024 15:48) Posted:
| Market expected it to cut 0.25%. It is going to be slow recovery process for Lendlease, as it has high gearing and increased sharebase, which going to dilute DPU further. Let' s hope rates get cut gradually in the next 5 years to below 1%. |
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My expectation: 0.5% cut by Sep, 1% cut in total for 2024.
Who can count the impact of 0.5% cut on LL?
Pls share
HVRRVH ( Date: 16-Aug-2024 15:48) Posted:
Market expected it to cut 0.25%. It is going to be slow recovery process for Lendlease, as it has high gearing and increased sharebase, which going to dilute DPU further. Let' s hope rates get cut gradually in the next 5 years to below 1%.
Mark001 ( Date: 16-Aug-2024 15:41) Posted:
Interest rates will be cut soon,by Sep at the latest.
if cut 0.5%, what is impact |
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Market expected it to cut 0.25%. It is going to be slow recovery process for Lendlease, as it has high gearing and increased sharebase, which going to dilute DPU further. Let' s hope rates get cut gradually in the next 5 years to below 1%.
Mark001 ( Date: 16-Aug-2024 15:41) Posted:
Interest rates will be cut soon,by Sep at the latest.
if cut 0.5%, what is impact?
HVRRVH ( Date: 16-Aug-2024 15:21) Posted:
| Steep drop in DPU despite NPI increased, citing borrowing cost. Not good enough. JEM acquisition was touted to improve DPU with tax saving and what' s not but it was far from it. Only rate cut can give booster to this reit. Going to opt for minimum scrip just to round up holding to whole lot. This reit could hit below 50 cents if rate cut did not materalise. |
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Interest rates will be cut soon,by Sep at the latest.
if cut 0.5%, what is impact?
HVRRVH ( Date: 16-Aug-2024 15:21) Posted:
| Steep drop in DPU despite NPI increased, citing borrowing cost. Not good enough. JEM acquisition was touted to improve DPU with tax saving and what' s not but it was far from it. Only rate cut can give booster to this reit. Going to opt for minimum scrip just to round up holding to whole lot. This reit could hit below 50 cents if rate cut did not materalise. |
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Steep drop in DPU despite NPI increased, citing borrowing cost. Not good enough. JEM acquisition was touted to improve DPU with tax saving and what' s not but it was far from it. Only rate cut can give booster to this reit. Going to opt for minimum scrip just to round up holding to whole lot. This reit could hit below 50 cents if rate cut did not materalise.
Fed next meeting takes place on 17-18 Sep.2024
What is likelihood?Mark001 ( Date: 14-Aug-2024 10:20) Posted:
I am optimistic about Jem and 313, which are potential assets.
Of course,must consider its high debt ratio.
finjungle ( Date: 11-Aug-2024 16:00) Posted:
Analysts and management always paint rosy pictures.
Just beware of the DEBTS-analysts and managment just walk away when the time comes.Investors are left carrying the load |
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I am optimistic about Jem and 313, which are potential assets.
Of course,must consider its high debt ratio.
finjungle ( Date: 11-Aug-2024 16:00) Posted:
Analysts and management always paint rosy pictures.
Just beware of the DEBTS-analysts and managment just walk away when the time comes.Investors are left carrying the load.
Alignment ( Date: 11-Aug-2024 13:22) Posted:
| Most decisions in life involve an assessment of risk and reward I guess. But giving a company the benefit of the doubt insofar as relates to debt is dangerous, because debt can zero the equity of the company if things go wrong. You need to decide here if the reward of doing so is worth such a risk |
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Analysts and management always paint rosy pictures.
Just beware of the DEBTS-analysts and managment just walk away when the time comes.Investors are left carrying the load.
Alignment ( Date: 11-Aug-2024 13:22) Posted:
Most decisions in life involve an assessment of risk and reward I guess. But giving a company the benefit of the doubt insofar as relates to debt is dangerous, because debt can zero the equity of the company if things go wrong. You need to decide here if the reward of doing so is worth such a risk.
chubbybastard ( Date: 15-Jul-2024 14:13) Posted:
| That' s why I say I agree with you that they should look at their debt profile first. But I guess they already have plans in place to refi bulk of their lendings once rates are cut. So let' s give them a benefit of a doubt |
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Most decisions in life involve an assessment of risk and reward I guess. But giving a company the benefit of the doubt insofar as relates to debt is dangerous, because debt can zero the equity of the company if things go wrong. You need to decide here if the reward of doing so is worth such a risk.
chubbybastard ( Date: 15-Jul-2024 14:13) Posted:
That' s why I say I agree with you that they should look at their debt profile first. But I guess they already have plans in place to refi bulk of their lendings once rates are cut. So let' s give them a benefit of a doubt
Alignment ( Date: 15-Jul-2024 14:05) Posted:
If that is what they are thinking then they are potentially too optimistic.
They are one of the most geared REITs on SGX on top of which they have prefs and these prefs are almongst the first to step up in their interest rates. |
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It has achieved not bad results.
It solved SKY issue and has promising prospects.
My own opinion.
Joelton ( Date: 06-Aug-2024 15:52) Posted:
Lendlease Global Commercial REIT posts 17.7% decline in FY2024 DPU to 3.87 cents
The manager of Lendlease Global Commercial REIT JYEU 0.00% (LREIT) has announced that its distribution per unit (DPU) for FY2024 ended June 30 came in at 3.87 cents, 17.7% lower than 4.70 cents a year ago.
This came on the back of a 15.6% decline in amount distributable to unitholders to $91.4 million.
Revenue for the year end period was 7.8% higher y-o-y at $220.9 million, while net property income (NPI) was 7.4% higher at $165.3 million, mainly attributed to the good operational performance from the retail malls and the recognition of Supplementary Rent received from the lease restructuring of Sky Complex in December 2023.
Excluding the supplementary rent recognised in advance, gross revenue and NPI were 3.2% and 1.3% higher y-o-y on a proforma basis respectively.
Property expenses in FY2024 were $55.6 million, $4.7 million higher compared to FY2023 mainly due to higher property tax and utilities costs from LREIT&rsquo s Singapore properties.
For the 2HFY2024 period, DPU was 1.77 cents, 21.2% lower than 2.25 cents the previous year. The lower DPU was primarily driven by higher borrowing costs amidst the higher interest rate environment and expired hedges being refinanced at higher rates (including the replacement of EURIBOR interest rate hedge) as well as the enlarged unit base.
Gross revenue and NPI for 2HFY2024 were 2.1% and 7.2% lower y-o-y at $71.9 million and $101.0 million, respectively, with the absence of rental income from Building 3 post the lease restructure. Including the support from the supplementary rent, on a proforma basis, gross revenue was 1.4% higher while NPI was 2.6% lower due to higher property operating expenses in 2HFY2024 as compared to 2HFY2023.
Weighted average cost of debt for the year ending June 30 was 3.58% per annum, as compared to 2.69% per annum in the previous financial year.
As at June 30, gross borrowings were $1.56 billion with a gearing ratio of 40.9%. The weighted average debt maturity was 2.5 years. As at the period end, LREIT has an interest coverage ratio of 3.2 times, which provides sufficient buffer from its debt covenants of 2.0 times.
Post FY2024, the manager has increased its interest hedging to approximately 70% from 61%. All of LREIT&rsquo s debt is unsecured and it has undrawn debt facilities of $168.6 million to fund its working capital.
Approximately 85% of LREIT&rsquo s total committed debt facilities as at June 30 are sustainability-linked financing. LREIT has achieved interest savings from the sustainability-linked financing since the establishment of its green finance in FY2022.
Kelvin Chow, CEO of the manager, says: &ldquo We have delivered positive retail rental reversion of 14.0% in FY2024 with a steady portfolio occupancy of 89.1%. We will continue to remain focused on prudent capital management. On our Milan assets, the repositioning of Sky Complex Building 3 is still in progress and we continue to receive leasing interest for the space. We look forward to providing more updates as we progress.&rdquo
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Lendlease Global Commercial REIT posts 17.7% decline in FY2024 DPU to 3.87 cents
The manager of Lendlease Global Commercial REIT JYEU 0.00% (LREIT) has announced that its distribution per unit (DPU) for FY2024 ended June 30 came in at 3.87 cents, 17.7% lower than 4.70 cents a year ago.
This came on the back of a 15.6% decline in amount distributable to unitholders to $91.4 million.
Revenue for the year end period was 7.8% higher y-o-y at $220.9 million, while net property income (NPI) was 7.4% higher at $165.3 million, mainly attributed to the good operational performance from the retail malls and the recognition of Supplementary Rent received from the lease restructuring of Sky Complex in December 2023.
Excluding the supplementary rent recognised in advance, gross revenue and NPI were 3.2% and 1.3% higher y-o-y on a proforma basis respectively.
Property expenses in FY2024 were $55.6 million, $4.7 million higher compared to FY2023 mainly due to higher property tax and utilities costs from LREIT&rsquo s Singapore properties.
For the 2HFY2024 period, DPU was 1.77 cents, 21.2% lower than 2.25 cents the previous year. The lower DPU was primarily driven by higher borrowing costs amidst the higher interest rate environment and expired hedges being refinanced at higher rates (including the replacement of EURIBOR interest rate hedge) as well as the enlarged unit base.
Gross revenue and NPI for 2HFY2024 were 2.1% and 7.2% lower y-o-y at $71.9 million and $101.0 million, respectively, with the absence of rental income from Building 3 post the lease restructure. Including the support from the supplementary rent, on a proforma basis, gross revenue was 1.4% higher while NPI was 2.6% lower due to higher property operating expenses in 2HFY2024 as compared to 2HFY2023.
Weighted average cost of debt for the year ending June 30 was 3.58% per annum, as compared to 2.69% per annum in the previous financial year.
As at June 30, gross borrowings were $1.56 billion with a gearing ratio of 40.9%. The weighted average debt maturity was 2.5 years. As at the period end, LREIT has an interest coverage ratio of 3.2 times, which provides sufficient buffer from its debt covenants of 2.0 times.
Post FY2024, the manager has increased its interest hedging to approximately 70% from 61%. All of LREIT&rsquo s debt is unsecured and it has undrawn debt facilities of $168.6 million to fund its working capital.
Approximately 85% of LREIT&rsquo s total committed debt facilities as at June 30 are sustainability-linked financing. LREIT has achieved interest savings from the sustainability-linked financing since the establishment of its green finance in FY2022.
Kelvin Chow, CEO of the manager, says: &ldquo We have delivered positive retail rental reversion of 14.0% in FY2024 with a steady portfolio occupancy of 89.1%. We will continue to remain focused on prudent capital management. On our Milan assets, the repositioning of Sky Complex Building 3 is still in progress and we continue to receive leasing interest for the space. We look forward to providing more updates as we progress.&rdquo
Now 100% certain the Fed will cut rates by Sept after Fed Jul meeting.
I think so.
Mark001 ( Date: 31-Jul-2024 14:34) Posted:
potential upside
Alignment ( Date: 31-Jul-2024 03:27) Posted:
| Ah I see thanks. I thought you meant some investor conference of SREITs happening |
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potential upsideAlignment ( Date: 31-Jul-2024 03:27) Posted:
Ah I see thanks. I thought you meant some investor conference of SREITs happening.
Mark001 ( Date: 30-Jul-2024 15:01) Posted:
Just back from holiday.
The reason is that Traders are 90%+ certain the Fed will cut rates by Sept after Fed meeting.
Rate cutting is most important to Lendlease reit.
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Ah I see thanks. I thought you meant some investor conference of SREITs happening.
Mark001 ( Date: 30-Jul-2024 15:01) Posted:
Just back from holiday.
The reason is that Traders are 90%+ certain the Fed will cut rates by Sept after Fed meeting.
Rate cutting is most important to Lendlease reit.
Alignment ( Date: 20-Jul-2024 03:11) Posted:
| Can you explain this point? What is REIT week and why is it important |
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