SGX:JYEU

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Lendlease Global Commercial REIT

Executive Summary

Listed on 2 October 2019, Lendlease Global Commercial REIT (“LREIT”) is established with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of stabilised income-producing real estate assets located globally, which are used primarily for retail and/or office purposes. More Details


Snowflake Analysis

Reasonable growth potential second-rate dividend payer.

Share Price & News

How has Lendlease Global Commercial REIT's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: JYEU is less volatile than 75% of SG stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: JYEU's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

2.0%

JYEU

-0.2%

SG REITs

1.3%

SG Market


1 Year Return

-2.5%

JYEU

-13.0%

SG REITs

-1.6%

SG Market

Return vs Industry: JYEU exceeded the SG REITs industry which returned -13% over the past year.

Return vs Market: JYEU matched the SG Market which returned -1.6% over the past year.


Shareholder returns

JYEUIndustryMarket
7 Day2.0%-0.2%1.3%
30 Day0.6%-3.6%2.2%
90 Day9.9%-0.2%6.6%
1 Year3.3%-2.5%-8.4%-13.0%3.5%-1.6%
3 Yearn/a17.3%-2.3%-7.2%-18.6%
5 Yearn/a45.6%7.6%17.0%-4.4%

Long-Term Price Volatility Vs. Market

How volatile is Lendlease Global Commercial REIT's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Lendlease Global Commercial REIT undervalued compared to its fair value and its price relative to the market?

0.92x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: JYEU (SGD0.78) is trading above our estimate of fair value (SGD0.48)

Significantly Below Fair Value: JYEU is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: JYEU is unprofitable, so we can't compare its PE Ratio to the SG REITs industry average.

PE vs Market: JYEU is unprofitable, so we can't compare its PE Ratio to the SG market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate JYEU's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: JYEU's PB Ratio (0.9x) is in line with the SG REITs industry average.


Next Steps

Future Growth

How is Lendlease Global Commercial REIT forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

36.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: JYEU is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2%).

Earnings vs Market: JYEU is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: JYEU's is expected to become profitable in the next 3 years.

Revenue vs Market: JYEU's revenue (19.1% per year) is forecast to grow faster than the SG market (9.1% per year).

High Growth Revenue: JYEU's revenue (19.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: JYEU's Return on Equity is forecast to be low in 3 years time (5%).


Next Steps

Past Performance

How has Lendlease Global Commercial REIT performed over the past 5 years?

11.8%

Historical Real Estate annual earnings growth


Earnings and Revenue History

Quality Earnings: JYEU is currently unprofitable.

Growing Profit Margin: JYEU is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: Unable to establish if JYEU's year-on-year earnings growth rate was positive over the past 5 years as it has been trading publicly for less than 3 years.

Accelerating Growth: Unable to compare JYEU's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: JYEU is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (-29.3%).


Return on Equity

High ROE: JYEU has a negative Return on Equity (-0.61%), as it is currently unprofitable.


Next Steps

Financial Health

How is Lendlease Global Commercial REIT's financial position?


Financial Position Analysis

Short Term Liabilities: JYEU's short term assets (SGD98.9M) exceed its short term liabilities (SGD22.1M).

Long Term Liabilities: JYEU's short term assets (SGD98.9M) do not cover its long term liabilities (SGD541.1M).


Debt to Equity History and Analysis

Debt Level: JYEU's debt to equity ratio (53.7%) is considered high.

Reducing Debt: Insufficient data to determine if JYEU's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: JYEU's debt is not well covered by operating cash flow (4.8%).

Interest Coverage: JYEU is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is Lendlease Global Commercial REIT current dividend yield, its reliability and sustainability?

6.00%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: JYEU's dividend (6%) is higher than the bottom 25% of dividend payers in the SG market (1.88%).

High Dividend: JYEU's dividend (6%) is in the top 25% of dividend payers in the SG market (4.82%)


Stability and Growth of Payments

Stable Dividend: Too early to tell whether JYEU's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if JYEU's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (41.4%), JYEU's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: JYEU's dividends in 3 years are not forecast to be well covered by earnings (123.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.2yrs

Average management tenure


CEO

Kelvin Chow (48 yo)

2.17yrs

Tenure

Mr. Chung Yip Chow, also known as Kelvin, has been Chief Executive Officer of Lendlease Global Commercial Trust Management Pte. Ltd., the Manager Lendlease Global Commercial REIT since 2019. Mr. Chow was p...


Leadership Team

NamePositionTenureCompensationOwnership
Chung Yip Chow
Chief Executive Officer of Lendlease Global Commercial Trust Management Pte. Ltd.2.17yrsno data0.047%
SGD 424.3k
Liang Huat Liaw
Executive General Manager of Finance at Lendlease Global Commercial Trust Management Pte. Ltd.2.17yrsno datano data
Jenny Khoo
Head of Asset Operationsno datano datano data
Form Po Cho
Secretary0.33yrno datano data

2.2yrs

Average Tenure

Experienced Management: JYEU's management team is considered experienced (2.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Ai Ming Lee
Independent Non-Executive Director of Lendlease Global Commercial Trust Management Pte. Ltd.1.58yrsS$93.59k0.042%
SGD 385.0k
Anthony Lombardo
Non-Independent Non-Executive Chairman of Lendlease Global Commercial Trust Management Pte. Ltd.no dataS$114.71k0.17%
SGD 1.5m
Hsueh Ling Ng
Non-Independent Non-Executive Director of Lendlease Global Commercial Trust Management Pte. Ltd.2.17yrsS$62.85k0.16%
SGD 1.5m
Simon Perrott
Independent Non-Executive Director of Lendlease Global Commercial Trust Management Pte. Ltd.1.58yrsS$81.13kno data
Tsui Kai Chong
Lead Independent Director of Lendlease Global Commercial Trust Management Pte. Ltd.no dataS$93.59kno data

1.6yrs

Average Tenure

62yo

Average Age

Experienced Board: JYEU's board of directors are not considered experienced ( 1.6 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Lendlease Global Commercial REIT's company bio, employee growth, exchange listings and data sources


Key Information


Number of Employees


Location

  • Lendlease Global Commercial REIT
  • 2 Tanjong Katong Road, #05-01
  • Paya Lebar Quarter
  • Singapore
  • 437161
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
JYEUSGX (Singapore Exchange)YesUnitsSGSGDOct 2019

Biography

Listed on 2 October 2019, Lendlease Global Commercial REIT (“LREIT”) is established with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of stabilised inc...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/08 11:08
End of Day Share Price2021/03/08 00:00
Earnings2020/06/30
Annual Earnings2020/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.