Recovery gaining traction■ Tenant sales/footfall improved 33.6%/6.2% yoy to S$81.5m/11.4m in Jan-Jun2021; FY6/21 gross revenue/DPU was in line with our expectations.■ We expect further relaxation of restrictions and higher vaccination rates todrive recovery across LREIT's retail portfolio.■ We reiterate our Add call with a higher DDM-based TP of S$0.96 as weascribe a premium to LREIT […]

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