Lendlease Reit    Last:0.56    +0.01

Lendlease Global REIT

Any investors here loading-up after reading the first report from DBS Research ?

Is it convincing enough ??

 

Some recent events taking place at LLGCR :
1) OCBC pulled-out from being a SSH with GE selling big stakes.
2) Blackrok pulled-out again after re-entering last week. Wondering if it will re-enter again.
3) Unit price stayed low and stabilized, did not drop further to 90c.
4) Yesterday,... DBS initiated coverage. Below is the report :-
https://researchwise.dbsvresearch.com/ResearchManager/DownloadResearch.aspx?E=fabgdkhab


 

 

I dont like the portfolio to begin with.. dont think orchard malls will do well. Not sure abt the other asset overseas which is a non shopping mall? Its like rojak.. anyhow hum tup a portfolio and list as reits

 

Unit price keeps downtrending,.... dpu payout day still faraway....

 

Last Friday after close, it was announced that OCBC has cut its deemed interest level from 11+% to 10+% due to selling of units by three of its subsid' s. During a webinar prior to the IPO, it was replied that there is no moratorium period for SSHs. There is lock-down period of one-year for the mgr...

Wondering how many more SSHs may choose to exit after this ?

Lendlease in Australia needed to raise funds badly ! Hence sold the largest mall in South Australia, called the Marion-Westin at a very reduced price to SPH REIT. This is not a good sign.

Some troubles are starting to brew for Lendlease after IPO. Similar to Eagle Hosp Trust,....

 

In japan, the yield for govt bond is close to zero.
In europe, heard some countries going negative yield.

4% from a stable trust maybe like godsend gift to those funds.

 

Yes,... you are right ! I have done the calculation too at my side. The special thing abt this REIT is its FY-end which is in June, as is with most of the PLCs in Australia.

Looks like we are earning 3.82c only for holding this REIT from October 25, 2019 till round about September 15, 2020, before we will be granted the 3.82c in dpu payout. Assuming our purchase price of the unit is at 96c per unit, our yield works out to be 3.98% ONLY. It' s like a 12-mth USD FD at 3.98%. Is this worth it ?

uiop1223      ( Date: 26-Oct-2019 06:27) Posted: I think since Fy2020 is not full year, they annualised the DPU to obtain 5.8%. 3.82c is actual dpu and they annualise it chengwh1      ( Date: 26-Oct-2019 00:36) Posted: I hoped somebody can kindly help me out here. In the prospectus, on Page 104, it mentioned that for Forecast Year 2020, the DPU is 3.82c, and the Distribution Yield is 5.80%, with a reference to Note 7. If I use 3.82c and to divide this by 88c (the listing price), I would get only a yield of 4.34%. HOw did the Distribution Yield of 5.80% come about please ? Thank you.

 

I think since Fy2020 is not full year, they annualised the DPU to obtain 5.8%. 3.82c is actual dpu and they annualise it

chengwh1      ( Date: 26-Oct-2019 00:36) Posted: I hoped somebody can kindly help me out here. In the prospectus, on Page 104, it mentioned that for Forecast Year 2020, the DPU is 3.82c, and the Distribution Yield is 5.80%, with a reference to Note 7. If I use 3.82c and to divide this by 88c (the listing price), I would get only a yield of 4.34%. HOw did the Distribution Yield of 5.80% come about please ? Thank you.

 

I hoped somebody can kindly help me out here. In the prospectus, on Page 104, it mentioned that for Forecast Year 2020, the DPU is 3.82c, and the Distribution Yield is 5.80%, with a reference to Note 7.

If I use 3.82c and to divide this by 88c (the listing price), I would get only a yield of 4.34%. HOw did the Distribution Yield of 5.80% come about please ?

Thank you.

 

heading back to ipo price of 88.

 

New broom sweep clean...

 

This one never able to get on bargain.....so sad...

 

Buyers keeps buying up at bid price, more to go up?

 

Yeah,... deemed interest was mentioned in the article. Thank you for pointing this out, Subaru,...

Subaru2018      ( Date: 06-Oct-2019 11:20) Posted: Not OCBC acquired, this is from its subsidaries great easteen, lion global, BOS trust from IPO placement.

 

Not OCBC acquired, this is from its subsidaries great easteen, lion global, BOS trust from IPO placement.

 

S$108.06mil divided by 122.79 million units = S$0.88003909 per unit, ie,... same price as per IPO appl stage.

Err,... which organization would be willing to GIVE UP 122.79 units to OCBC Bank at IPO price when the IPO has been so successful and is trading at above S$0.90 now ?? What is the objective here please ?

CheeryVGoh      ( Date: 05-Oct-2019 21:12) Posted: Lendlease Global Commercial REIT and OCBC OCBC has become a substantial shareholder of Lendlease Global Commercial REIT, with a deemed interest in 122.79 million units acquired for S$108.06 million in a placement, the bank said in a filing to SGX Friday. The bank has a deemed interest of 10.513 percent, after its subsidiaries &mdash Great Eastern Life Assurance, Great Eastern Trust, Lion Global Investors and BOS Trustee &mdash acquired units through the REIT&rsquo s IPO, the filing said.

 

Lendlease Global Commercial REIT and OCBC

OCBC has become a substantial shareholder of Lendlease Global Commercial REIT, with a deemed interest in 122.79 million units acquired for S$108.06 million in a placement, the bank said in a filing to SGX Friday.

The bank has a deemed interest of 10.513 percent, after its subsidiaries &mdash Great Eastern Life Assurance, Great Eastern Trust, Lion Global Investors and BOS Trustee &mdash acquired units through the REIT&rsquo s IPO, the filing said.

 

Tq,... I believed for investments,... it is better to be more concerned rather than less so,...

Subaru2018      ( Date: 05-Oct-2019 14:02) Posted: who knows ? Different people have different purpose ... and opinions... Just take it with a pinch of salt..... dont need to be so serious over here chengwh1      ( Date: 05-Oct-2019 11:55) Posted: Well, bro,... evidently, the big and established cornerstones do not have the same opinions as we do,... Why would they take up the placements if they do not think this REIT is good ?

 

who knows ? Different people have different purpose ... and opinions...

Just take it with a pinch of salt..... dont need to be so serious over here

chengwh1      ( Date: 05-Oct-2019 11:55) Posted: Well, bro,... evidently, the big and established cornerstones do not have the same opinions as we do,... Why would they take up the placements if they do not think this REIT is good ?

 

https://sbr.com.sg/markets-investing/news/lendlease-global-commercial-reit-prices-ipo-088-unit

"Lendlease Global Commercial REIT is seeking to raise up to $1.03b through the sale of more than 1.16 billion units ...... 22.72 million units will be made available to the Singapore public."