Parkway Life REIT’s 3Q results set the stage for further growth

SINGAPORE (Oct 28): CIMB Securities is reiterating its “add” recommendation on Parkway Life REIT (PLife REIT) with an unchanged target price of $2.78 following its release of financial results for 3Q16.

Although the healthcare REIT posted an 8.8% blower 3Q DPU of 3.06 cents compared to 3.36 a year ago, revenue grew 8.2% while net property income (NPI) increased 8% y-o-y.  

(See also: Parkway Life REIT’s 3Q DPU falls 8.8% to 3.06 cents on absence of one-off gain)

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