Country Daily
Singapore Daily
Top Stories
Company Results | Lendlease Global Commercial REIT (LREIT SP/BUY/S$0.585/Target: S$0.790)
LREIT has further reduced its reliance on perpetual securities after issuing only S$120m of new perpetual securities to partially refinance S$200m due in Jun 26. Interest coverage ratio improved 0.5x yoy to 2.1x. LREIT provides an attractive FY27 DPU yield of 6.3% (CICT: 4.7%, FCT: 5.6%, SGREIT: 6.8%). Maintain BUY. Target price: S$0.79.
Market Spotlight
- US stocks were higher on Tuesday, with all indices rising as information technology, materials and industrials sectors rose. There were more advancers than decliners on both the NYSE and NASDAQ.
- The FSSTI fell 0.03 points to 5,612.25, weighed by weakness in Singtel, Seatrium and SIA, while mid-cap indices declined while small-cap indices rose amid a broad market decline on S$1.83 b turnover.
Technical Analysis
Riverstone Holdings | RSTON SP
Trading Buy Range: S$0.865-0.870
Propnex | PROP SP
Trading Buy Range: S$1.84-1.85
Country Daily
Singapore Daily
Top Stories
Company Results | Lendlease Global Commercial REIT (LREIT SP/BUY/S$0.585/Target: S$0.790)
LREIT has further reduced its reliance on perpetual securities after issuing only S$120m of new perpetual securities to partially refinance S$200m due in Jun 26. Interest coverage ratio improved 0.5x yoy to 2.1x. LREIT provides an attractive FY27 DPU yield of 6.3% (CICT: 4.7%, FCT: 5.6%, SGREIT: 6.8%). Maintain BUY. Target price: S$0.79.
Market Spotlight
- US stocks were higher on Tuesday, with all indices rising as information technology, materials and industrials sectors rose. There were more advancers than decliners on both the NYSE and NASDAQ.
- The FSSTI fell 0.03 points to 5,612.25, weighed by weakness in Singtel, Seatrium and SIA, while mid-cap indices declined while small-cap indices rose amid a broad market decline on S$1.83 b turnover.
Technical Analysis
Riverstone Holdings | RSTON SP
Trading Buy Range: S$0.865-0.870
Propnex | PROP SP
Trading Buy Range: S$1.84-1.85
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