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Parkway Life REIT acquires two nursing homes in Japan for $49.4 mil
The manager of Parkway Life REIT (PLifeREIT) has announced on June 30 that it has entered into a Tokumei Kumiai agreement (or silent partnership agreement) to acquire two nursing homes in Japan for a consideration of 4.1 billion yen ($49.4 million).
The agreement was signed by the REIT&rsquo s wholly-owned subsidiary, Parkway Life Japan4, with Kabushiki Kaisha Strawberry Firm and Kabushiki Kaisha Anthebliss.
The nursing homes, Will-Mark Kashiihama and Crea Adachi, are owned by Kabushiki Kaisha Strawberry Firm and Kabushiki Kaisha Anthebliss respectively.
Will-Mark Kashiihama has a total of 198 beds, while Crea Adachi has 87 beds.
The acquisition is slated to be completed by the 3Q2021 and will bring the REIT&rsquo s portfolio to a total of 55 properties valued at $2.0 billion.
Under the agreement, a company established under Japanese laws and known as a Godo Kaisha will own the properties.
A Godo Kaisha is similar to a limited liability company in Singapore.
This is the REIT&rsquo s third asset recycling initiative following the recent divestment of a non-core industrial property, P-Life Matsudo.
The divestment was completed in January.
Based on the expected net property yield of 5.7% from the acquisition, the manager believes that the acquisition will be accretive to PLife REIT&rsquo s distribution per unit (DPU).
The acquisition is in line with the investment criteria set out in the REIT&rsquo s prospectus on Aug 7, 2007.
It is also expected to benefit the REIT&rsquo s unitholders by improving income diversification and reducing the reliance of any one of the REIT&rsquo s properties.
The properties are freehold and well-located in the cities of Fukuoka and Tokyo Prefectures. Upon the completion of the acquisition, the REIT has established its first presence in Tokyo Prefecture.
As at May 31, the acquired properties have an operational occupancy of 84%.
They are also expected to improve the REIT&rsquo s portfolio weighted average lease expiry (WALE) to 5.61 years from 5.22 years.
&ldquo PLife REIT is pleased to successfully implement yet another asset recycling initiative. Most importantly, with the acquisition of the properties, we have further strengthened the quality of our portfolio and presence in Japan, which continues to be a valued core market for PLife REIT since our maiden entry in 2008,&rdquo says Yong Yean Chau, CEO of the manager.
&ldquo Leveraging on our robust strategic partnership and the resilient aging demographics5 in Japan, we continue to monitor aged care market of the nation vigilantly as we seek and seize opportunities in a timely and disciplined manner to optimise the resiliency of our portfolio and deliver immediate yield growth,&rdquo Yong adds.
Very quiet thread here, seems like investors all just park under it their pillows
Just collect dividends only and keep watching price going up only
Nothing much to say lol
Just collect dividends only and keep watching price going up only
Nothing much to say lol
Parkway Life Reit posts 7.4% rise in Q1 DPU to 3.57 cents
Parkway Life Real Estate Investment Trust (Parkway Life Reit) on Friday (April 23) posted a 7.4 per cent rise in distribution per unit (DPU) to 3.57 Singapore cents for its first quarter ended March 31, 2021, from 3.32 cents the year before.
On an annualised basis, DPU was 14.28 Singapore cents, up 7.4 per cent from 13.28 cents the previous year.
Gross revenue was up 0.4 per cent to $30 million, from $29.9 million the year prior. This was mainly due to rent contributions from a nursing home acquired in December 2020, as well as higher rent from Singapore properties, the manager said in a bourse filing.
Net property income grew 1 per cent on the year to $28 million for the first quarter, from $27.7 million.
Distributable income was up 7.4 per cent year on year to $21.6 million, from $20.1 million the year before.
The distribution will be paid out on May 31, after book closure on May 3.
Both of us get our sources from DBS, but it seems that my source is only an abbreviated version
Can share where did you find the full version? Lol
Can share where did you find the full version? Lol
' Buy' Parkway Life REIT to ride upside on once-in-15 years opportunity: DBS
DBS Group Research analysts Rachel Tan and Derek Tan believe that the potential upcoming renewal of Parkway Life REIT&rsquo s (PLife REIT) Singapore hospitals master lease gives investors a rare opportunity to ride further upside on the counter.
In an April 19 research note, the analysts maintained their &lsquo buy&rsquo rating for the REIT with a higher target price of $4.50 from $4.00 previously.
The 15-year master lease for PLife REIT&rsquo s Singapore hospitals ends on Aug 22, 2022. Rachel and Derek believe that IHH Healthcare, the REIT&rsquo s sponsor and master leasee, will renew the lease.
This provides a key opportunity to revise rentals upwards, as well as carry out potential upgrades for the hospitals, the analysts say.
To that end, they estimate the renewal could drive the REIT&rsquo s distribution per unit (DPU) up between 7% - 23%, which could translate to a share price upside of 4% to 25%.
They recommend investors to buy the counter ahead of the master lease renewal to ride the upside from the rental revision, despite PLife REIT currently trading at a premium of 2.1 times P/NAV.
Derek and Rachel believe the renewal, along with robust income visibility, supports PLife REIT&rsquo s position as a &ldquo success story&rdquo and a favourite among investors.
They note that the REIT&rsquo s share price has more than tripled since listing in 2007, translating to a compound annual growth rate (CAGR) of 9%. &ldquo On a total return basis, investors have enjoyed a return of more than 4 times since its IPO or 11% CAGR,&rdquo they add.
In terms of other catalysts, the analysts note that in addition to asset recycling and acquisitions from its sponsor, PLife REIT&rsquo s management is currently exploring opportunities to pin down a third pillar to drive its next phase of growth.
They believe this could come from investments in mature healthcare markets like Australia, Europe, or the UK. The acquisition of Mount Elizabeth Novena is also a possibility.
&ldquo We believe the hospital would soon reach a stabilised state and potentially be injected into PLife REIT when the yield of the asset is accretive,&rdquo they say.
Their target price for PLife REIT is raised to $4.50, factoring in an upward revision to rentals with the renewal of the master lease and assumed new acquisitions worth $25 million.
DBS on Parkway Life Real Estate Investment Trust: BUY
Last Traded Price: S$4.10 Price Target (12-mth): S$4.50
Prev TP: S$4.00 (Upside 9.8%)
Capitalise on this once-in-15 years opportunity
- Upcoming renewal of Singapore hospitals master lease to deliver possible DPU upside of 7-23%
- Robust income visibility is likely to keep this REIT as among the top picks of investors
- Possible introduction of a 3rd pillar to accelerate growth further
- BUY, TP raised to S$4.50
Last Traded Price: S$4.10 Price Target (12-mth): S$4.50
Prev TP: S$4.00 (Upside 9.8%)
Capitalise on this once-in-15 years opportunity
- Upcoming renewal of Singapore hospitals master lease to deliver possible DPU upside of 7-23%
- Robust income visibility is likely to keep this REIT as among the top picks of investors
- Possible introduction of a 3rd pillar to accelerate growth further
- BUY, TP raised to S$4.50
Parkway Life REIT prices JPY3.3 bil 6-year notes with 0.51% p.a. coupon
The manager of Parkway Life REIT (PLife REIT) has priced JPY3.3 billion ($41.3 million) worth of six-year senior unsecured fixed rate notes due 2027.
The notes, which are denominated in JPY, will carry a coupon of 0.51% per annum, and will be drawn down under Parkway Life MTN&rsquo s $500 million Multicurrency Debt Issuance Programme.
The issue of the notes is expected to be completed on March 29.
The proceeds from the issue of the notes will go to repurchasing an earlier March 29, 2016 issuance of JPY3.3 billion 0.58% senior unsecured notes due 2022 at a price of 100% of their principal amount without penalty.
The new notes are priced lower than the existing 0.58% notes, resulting in further interest cost savings for the next six years.
&ldquo While many countries are trying to rein in the spread of COVID-19 and speed up the rate of vaccination, the current economic outlook remains uncertain and it is crucial for PLife REIT to mitigate any potential refinancing risk by pre-emptively terming out maturing debts,&rdquo explains Yong Yean Chau, CEO of the manager.
&ldquo To that end, we have successfully termed out the existing Notes Due 2022 via the Notes Issue. The successful pricing of new notes for a further 6 years at an attractive rate, to repurchase the Notes Due 2022 at par and without penalty, validates the continual strong support of the Japanese institutional investors and vote of confidence in PLife REIT&rsquo s overall investment and growth strategy in Japan,&rdquo Yong adds.
Parkway Life REIT
- 4Q/FY20 DPU of 3.57/13.79 Scts were slightly above our FY20F projections.
- Improved Singapore operations and contributions from new Japan acquisitions boosted performance.
- Reiterate Hold rating with a higher DDM-based TP of S$4.11.
4Q20 results highlights
PREIT posted a 9% yoy increase in 4Q20 gross revenue to S$30.6m, thanks to additional contributions from four Japan assets bought in Dec 2019 and Dec 2020, appreciation of the ¥ , and higher Singapore hospital income.
Net property income (NPI) grew a lower 4.2% yoy to S$28.5m with the absence of one-off items, resulting in a normalised NPI margin of 93.1%.
Distributable income to unitholders grew a larger 6.7% yoy to S$21.6m as PREIT benefited from lower interest cost due largely to a low interest rate environment, realised forex gain as well as release of S$0.9m of Covid-19 related relief measures retained earlier.
4Q/FY20 DPU of 3.57/13.79 Scts were slightly ahead of our expectations at 26.6%/102.6% of our FY20 forecasts.
Organic growth and new acquisitions boosted bottomline
Singapore hospitals achieved a 1.2%/1.2% yoy increase in 4Q20 revenue/NPI to S$17.5m/S$16.7m on upward minimum guarantee rent revision of 1.17%.
This adjustment commenced on 23 Aug 2020 and will last until 22 Aug 2021. This provides the trust with strong income visibility.
Its Japan operations reported a 9.3% yoy expansion in 4Q NPI to S$11.8m, due to additional rental contributions from four properties acquired in Dec 2019 and Dec 2020 as well as a stronger ¥ .
Strong balance sheet, new Japan property boost FY21F earnings
In Dec 2020, PREIT completed the acquisition of a nursing home in the Greater Tokyo region in Japan for S$21.2m.
The purchase is yield accretive, based on a property yield of 6.4% and should boost its earnings from Dec 2020 onwards.
PREIT&rsquo s asset portfolio stands at c.S$2bn as at end-Dec 2020. PREIT continued to strengthen its balance sheet as it put in place 6-year committed loan facilities to term out two loans due in Jun 2021 and extended its debt maturity to 3.5 years.
As at end-4Q20, its gearing stood at 38.5%. Assuming a gearing of 45%, PREIT has further debt headroom of S$243.8m to fund potential new purchases.
Reiterate Hold rating
We raise our FY21-22F DPU by c.2% as we factor in contributions from the new acquisition made in Dec 2020.
Accordingly, our DDM-based TP rises to S$4.11.
While we like PREIT for its stable yield backed by its defensive income structure, our recommendation remains a Hold given the 6% total return based on its current share price.
We would be buyers on any share price weakness.
Upside risks include accretive acquisitions while downside risks include deflationary periods whereby Singapore rent revisions would revert to 1%.
- 4Q/FY20 DPU of 3.57/13.79 Scts were slightly above our FY20F projections.
- Improved Singapore operations and contributions from new Japan acquisitions boosted performance.
- Reiterate Hold rating with a higher DDM-based TP of S$4.11.
4Q20 results highlights
PREIT posted a 9% yoy increase in 4Q20 gross revenue to S$30.6m, thanks to additional contributions from four Japan assets bought in Dec 2019 and Dec 2020, appreciation of the ¥ , and higher Singapore hospital income.
Net property income (NPI) grew a lower 4.2% yoy to S$28.5m with the absence of one-off items, resulting in a normalised NPI margin of 93.1%.
Distributable income to unitholders grew a larger 6.7% yoy to S$21.6m as PREIT benefited from lower interest cost due largely to a low interest rate environment, realised forex gain as well as release of S$0.9m of Covid-19 related relief measures retained earlier.
4Q/FY20 DPU of 3.57/13.79 Scts were slightly ahead of our expectations at 26.6%/102.6% of our FY20 forecasts.
Organic growth and new acquisitions boosted bottomline
Singapore hospitals achieved a 1.2%/1.2% yoy increase in 4Q20 revenue/NPI to S$17.5m/S$16.7m on upward minimum guarantee rent revision of 1.17%.
This adjustment commenced on 23 Aug 2020 and will last until 22 Aug 2021. This provides the trust with strong income visibility.
Its Japan operations reported a 9.3% yoy expansion in 4Q NPI to S$11.8m, due to additional rental contributions from four properties acquired in Dec 2019 and Dec 2020 as well as a stronger ¥ .
Strong balance sheet, new Japan property boost FY21F earnings
In Dec 2020, PREIT completed the acquisition of a nursing home in the Greater Tokyo region in Japan for S$21.2m.
The purchase is yield accretive, based on a property yield of 6.4% and should boost its earnings from Dec 2020 onwards.
PREIT&rsquo s asset portfolio stands at c.S$2bn as at end-Dec 2020. PREIT continued to strengthen its balance sheet as it put in place 6-year committed loan facilities to term out two loans due in Jun 2021 and extended its debt maturity to 3.5 years.
As at end-4Q20, its gearing stood at 38.5%. Assuming a gearing of 45%, PREIT has further debt headroom of S$243.8m to fund potential new purchases.
Reiterate Hold rating
We raise our FY21-22F DPU by c.2% as we factor in contributions from the new acquisition made in Dec 2020.
Accordingly, our DDM-based TP rises to S$4.11.
While we like PREIT for its stable yield backed by its defensive income structure, our recommendation remains a Hold given the 6% total return based on its current share price.
We would be buyers on any share price weakness.
Upside risks include accretive acquisitions while downside risks include deflationary periods whereby Singapore rent revisions would revert to 1%.
Parkway Life Reit Q4 DPU up 6.7% to 3.57 Singapore cents
PARKWAY Life real estate investment trust (Parkway Life Reit) posted a distribution per unit (DPU) of 3.57 Singapore cents for the fourth fiscal quarter of the year ended December, up 6.7 per cent from 3.34 Singapore cents in the corresponding period last year.
This pushed the Reit' s DPU for the FY 2020 to 13.79 Singapore cents, some 4.5 per cent higher than 13.19 Singapore cents in FY 2019.
Gross revenue for the quarter rose by 9 per cent to S$30.6 million from S$28.0 million in the corresponding period last year.
The group attributed this to a combination of revenue contributions from its property acquisitions in Japan in December 2019 and 2020, higher rent from Singapore properties, as well as the appreciation of the yen.
Property expenses for the quarter rose to S$2.1 million from S$0.7 million in the previous year, due to higher repair expenses incurred over the course of the year, as well as a general increase in property expenses in line with a larger portfolio.
The Reit added that property expenses for FY 2019 were " significantly lower" due to a one-off reclassification of insurance reimbursement received from gross revenue to property expenses to better reflect the performance of the underlying properties.
Notwithstanding the reclassification, the Reit said there was no impact to the net property income for the quarter, which grew 4.2 per cent to S$28.5 million from S$27.3 million.
Distributable income to unitholders for the quarter rose 6.7 per cent year on year to S$21.6 million from S$20.2 million. The distribution will be paid out on Feb 26, after the books are closed on Feb 2.
As at end-December last year, Parkway Life Reit had an enlarged portfolio of 54 healthcare and healthcare-related properties across Singapore, Japan and Malaysia, standing at some S$2.02 billion.
The Reit said an annual independent valuation performed for all its properties brought about a portfolio valuation gain of S$7.4 million, or an increase of 0.4 per cent in the total portfolio value.
Yong Yean Chau, chief executive of the manager, said the Reit' s portfolio places it in a good position to benefit from the resilient growth of the healthcare industry in the Asia-Pacific region.
He said: " The healthcare industry continues to remain critically essential in a rapidly-ageing population and with greater demand for better-quality healthcare and global aged-care services.
" Against a backdrop of volatility in the macro economy and tepid performance in the financial markets, Parkway Life Reit will continue to focus on driving resilient returns backed by solid financial management."
Parkway Life Reit
Cohen & Steers Capital Management' s deemed interest in ParkwayLife Reit has increased above the 7 per cent threshold interest.
This was due to it acquiring 7,095,525 units in Parkway Life Reit through a novation agreement of a client on Jan 6. While Cohen & Steers Capital Management is not the registered holder of any units of the Reit, the agreement increased its deemed interest in the Reit from 6.25 per cent to 7.43 per cent.
Parkway Life Reit will be releasing its FY20 (ended Dec 30) financial results after the Jan 25 close.
On Dec 18, the company completed the acquisition of a nursing home in Japan after reporting on Nov 4 a distribution per unit of 3.54 Singapore cents for its Q3FY20, and 10.22 cents for its 9MFY20, representing respective year-on-year increases of 7.4 per cent and 3.8 per cent respectively.
PLife Reit to acquire nursing home in Japan for 1.65 billion yen
PARKWAY Life Reit (PLife Reit) is acquiring a nursing home in the Greater Tokyo region from aged care operator KK Habitation for 1.65 billion yen (S$21.2 million).
In a filing to the Singapore Exchange, PLife Reit' s manager said that the purchase is being made at about 4.6 per cent below valuation, and will generate a net property yield of 6.4 per cent.
The 100-bed nursing home is located in the residential area of Kamagaya City within the Chiba Prefecture. With the latest acquisition, PLife Reit will secure a fresh 20-year master lease agreement and lengthen the weighted average lease expiry (WALE) for PLife Reit' s Japan portfolio from 11.19 years to 11.44 years.
The acquisition will be funded by a long-term yen loan facility, so as to protect the Reit from potential currency fluctuations and achieve a stable net asset value. Post acquisition, PLife Reit' s gearing level will go up to 39.3 per cent, from 38.6 per cent as at Sept 30.
Yong Yean Chau, chief executive of the Reit' s manager, said: " This acquisition not only strengthens our presence in Japan but also boosts the resilience of our portfolio by delivering immediate growth. We continue to build strong long-term relationships with local players with synergic business strategies to ensure that we continue to identify strong quality assets, which will lead to sustainable returns for unitholders."
Parkway Life Reit raises Q3 DPU by 7.4% to 3.54 S cents
PARKWAY Life Real Estate Investment Trust' s (Parkway Life Reit) distribution per unit (DPU) rose 7.4 per cent to 3.54 Singapore cents for its third quarter ended Sept 30, 2020, from 3.3 cents a year ago.
Gross revenue was up 0.8 per cent to S$30.2 million for the quarter, from S$29.9 million the year before.
This was largely due to contributions from three Japan nursing rehabilitation facilities acquired in Q4 2019, higher rent from Singapore properties as well as the appreciation of yen, the Reit manager said on Wednesday.
The higher rent was partially offset by a one-off receipt of insurance proceeds for the reimbursement of property repair expenses incurred by certain Japanese assets in 2019, the manager added.
Meanwhile, net property income grew 2 per cent on the year to S$28.1 million for the quarter, from S$27.6 million.
Distributable income to unitholders rose 7.4 per cent year on year to S$21.4 million, from S$19.9 million. The distribution will be paid out on Dec 8, after books closure on Nov 12.
Yong Yean Chau, chief executive of the manager, said with a strong portfolio of quality assets combined with active capital management strategies, the Reit can continue to deliver improved returns to unitholders.
Parkway Life Reit posts 2.5% rise in Q2 DPU to 3.36 S cents
PARKWAY Life Real Estate Investment Trust' s (Parkway Life Reit) distribution per unit (DPU) rose by 2.5 per cent to 3.36 Singapore cents for its second quarter ended June 30, from 3.27 cents a year ago.
Gross revenue was up 4.9 per cent to S$30.3 million for the quarter, from S$28.9 million a year ago.
This was due to contribution from three nursing rehabilitation facilities in Japan acquired on Dec 13, 2019, higher rent from its Singapore properties, and the appreciation of the yen, the healthcare real estate investment trust (Reit) said in a regulatory filing on Tuesday.
The Reit owns 53 properties in the Asia-Pacific region, including three hospitals in Singapore and 49 healthcare and healthcare-related assets in Japan.
Net property income (NPI) grew 5.3 per cent on the year to S$28.2 million for the quarter, from S$26.8 million.
Distributable income rose 2.5 per cent year on year to S$20.3 million, from S$19.8 million.
The distribution will be paid out on Sept 2, after books closure on Aug 6.
Meanwhile, for the half year ended June 30, DPU was higher at 6.68 cents, versus 6.55 cents a year ago, and distributable income grew 1.9 per cent to S$40.4 million.
Gross revenue was 5.1 per cent higher at S$60.1 million, while NPI rose 4.9 per cent to S$56 million for the half year.
Chief executive of the Reit' s manager, Yong Yean Chau, said the Reit' s " resilient performance" was achieved through favourable rental lease structures, effective debt management, and prudent financial risk management.
" All our properties continue to be in operation even as the Covid-19 outbreak persisted during the quarter," he said. " With the gradual easing of restrictions in the countries where Parkway Life Reit is present, all (our) healthcare tenants have continued to enforce strict precautionary measures to ensure safety of their employees and patients/nursing care residents."
Mr Yong added that the Reit' s manager will continue to monitor the Covid-19 situation closely and adapt its tenant-support measures accordingly.
Parkway Life Reit' s DPU up 1.4% in Q1
WED, APR 22, 2020 - 8:50 AM
PARKWAY Life Real Estate Investment Trust' s (PLife Reit) distribution per unit rose 1.4 per cent to 3.32 Singapore cents for its first quarter ended March 31, from 3.28 cents a year ago.
The increase was mainly due to additional revenue contribution from three Japan nursing rehabilitation facilities acquired in December 2019, rental growth of existing properties and financing cost savings.
Partially offsetting the amount available for distribution was an S$850,000 sum retained during the quarter for Covid-19 related relief measures, the healthcare real estate investment trust' s (Reit) manager said on Wednesday.
The S$850,000 is part of the S$1.7 million in total that the manager has set aside to provide targeted assistance and support measures for tenants affected by the novel coronavirus crisis. PLife Reit' s portfolio comprises 49 healthcare properties in Japan.
Gross revenue grew 5.2 per cent to S$29.9 million for the first quarter, from S$28.4 million a year ago. This was largely attributable to the contribution from the three newly acquired Japan properties, a 1.6 per cent upward revision of minimum guaranteed rent for Singapore hospitals and the yen' s appreciation.
Net property income rose 4.5 per cent on the year to S$27.7 million for the quarter, from S$26.5 million.
Amount available for distribution increased by 5.7 per cent year on year to S$21 million from S$19.8 million. This included the S$850,000 retained for Covid-19 related relief measures.
Distributable income to unitholders, which excludes the sum retained, stood at S$20.1 million, up 1.4 per cent from S$19.8 million a year ago.
The distribution will be paid out on May 29, after books closure on April 30.
PLife Reit remains in a " stable financial position" despite ongoing uncertainties in the economy and volatility in the financial markets, said Yong Yean Chau, chief executive officer of the Reit' s manager.
PLife Reit units closed S$0.07 or 2.1 per cent lower at S$3.33 on Tuesday.
https://www.businesstimes.com.sg/companies-markets/parkway-life-reits-dpu-up-14-in-q1
A few weeks ago, I saw the filing in the SGX that an American fund mgr, Cohen & Steers, bought a lot of PLife' s units,.. then this evening there was an ann' t the same group sold 2,055,500 units via novation due to the termination of agreement to purchase and sell securities.
Why did C & S not want to take up units for which they have signed the S& P for ? What obligation did they arrange to replace this earlier obligation with ?
Why did C & S not want to take up units for which they have signed the S& P for ? What obligation did they arrange to replace this earlier obligation with ?
In the midst of the current turmoil affecting high-yielding companies like UMS and REITs like First REIT, PLife REIT seems to continue to stand tall and strong. It' s unit price continues to hold at 2.60.
There was a filing on Nov 15th : http://plifereit.listedcompany.com/newsroom/20181115_181214_C2PU_JKKHEH0YOJBA8JGM.3.pdf
The CEO Mr Yong moved 274,700 units from his personal holdings to his custodian account held with UOB Nominees (Pte) Limited.
What' s the reason for doing this ??
There was a filing on Nov 15th : http://plifereit.listedcompany.com/newsroom/20181115_181214_C2PU_JKKHEH0YOJBA8JGM.3.pdf
The CEO Mr Yong moved 274,700 units from his personal holdings to his custodian account held with UOB Nominees (Pte) Limited.
What' s the reason for doing this ??
It' s coming to year-end, and capital recycling initiatives are up again,... if PLife REIT divests another set of 4 or 5 nursing homes in Japan, and replace them with higher-yielding assets in beginning-2018, this will fly through $3.00, which is not impossible. The AEIs for another two properties acquired in the early part of this year should be completed by this quarter. After which, the higher rental imposednand collected will contribute to a higher dpu for us this quarter.
Anyway,.. I' ll be happy with the asset divestment plans this year-end,... PLife' s asset divestment and acquisition activities have always been dpu-accretive. It' s only a matter of when they will execute this initiative now.
Anyway,.. I' ll be happy with the asset divestment plans this year-end,... PLife' s asset divestment and acquisition activities have always been dpu-accretive. It' s only a matter of when they will execute this initiative now.
Quoting from their reports : In its long-term outlook, the Reit said that the industry continues to be driven by favourable patient demographics and demand for " better quality healthcare and aged care services" . In its results filing, CEO of the Reit manager Yong Yean Chau noted that this quarter marks a special milestone as it is the Reit' s 10th anniversary since its listing on Aug 23, 2007.
MY comments : LOoking at the performance till now,... this is really ONE REIT that truly stands out among the rest ! THis is ONE REIT that truly DEMONSTRATES the statement : QUALITY OF THE REIT MANAGER.
Quality of the REIT Mgr is one of the most important attributes of selecting a REIT counter to invest into. This is the one,... I hold many REITs,... forummers can search for all my postings in this forum and I have commented onto them,... here are my comments for Parkway Life REIT. Nothing more,....
MY comments : LOoking at the performance till now,... this is really ONE REIT that truly stands out among the rest ! THis is ONE REIT that truly DEMONSTRATES the statement : QUALITY OF THE REIT MANAGER.
Quality of the REIT Mgr is one of the most important attributes of selecting a REIT counter to invest into. This is the one,... I hold many REITs,... forummers can search for all my postings in this forum and I have commented onto them,... here are my comments for Parkway Life REIT. Nothing more,....
Good results this morning. In Summary :-
Overall DPU of 3.37 cents for 3Q 2017, representing a 10.1% increase over 3Q 2016
?X DPU increase of 2.8% (3Q Y-O-Y) from recurring operations
?X Completion of two AEIs for Japan Portfolio drives value
?X 100% shield against JPY currency volatility till 1Q 2022 with the extension of JPY net income hedges
What I like about PLife REIT : they did not ask for mandate to increase unit base size, hence no need to worry about possible dilution. They have REPEATABLE PERFORMANCE in their asset management capabilities. Look at the past few years.
And especially : look at the Share Price performance. Yes, it is the most expensive REIT in the SGX. Because there is a reason for it to be so. NO choice here,... need to buy when the price dips.
Overall DPU of 3.37 cents for 3Q 2017, representing a 10.1% increase over 3Q 2016
?X DPU increase of 2.8% (3Q Y-O-Y) from recurring operations
?X Completion of two AEIs for Japan Portfolio drives value
?X 100% shield against JPY currency volatility till 1Q 2022 with the extension of JPY net income hedges
What I like about PLife REIT : they did not ask for mandate to increase unit base size, hence no need to worry about possible dilution. They have REPEATABLE PERFORMANCE in their asset management capabilities. Look at the past few years.
And especially : look at the Share Price performance. Yes, it is the most expensive REIT in the SGX. Because there is a reason for it to be so. NO choice here,... need to buy when the price dips.
Why the sudden fall in ParkWayL Reit?