🦎 ANALYST WATCH | 7 AUGUST 2026
JYEU LENDLEASE REIT
WHAT THE ANALYST SAYS
Phillip Securities Research maintains BUY, raising its target price to S$0.77 from S$0.73. Full year DPU rose 2.7 percent year on year, driven by a full half contribution from the PLQ mall acquisition and strong Singapore retail performance, with rental reversion of 11.7 percent and occupancy at 98.5 percent. Gearing improved from 42.6 percent to 38.9 percent following equity funding of the PLQ deal and debt repayment from the JEM Office sale sale proceeds. The drag remains Sky Complex Building 3 in Milan, only 51 percent occupied with a planned divestment now delayed amid a weak Milan office market. Phillip's thesis going forward rests on the PLQ upgrade completing on schedule and the Milan asset eventually finding a buyer.
NOTE
For the full report, check Phillip Capital's published research or your broker platform.
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