Parkway Life REIT (PLife REIT)

Investment manager Cohen & Steers becomes substantial shareholder in Digital Core REIT after buying 0.83 mil units - THE EDGE SINGAPORE

Insider moves

Cohen & Steers becomes substantial shareholder in Digital Core REIT after buying 0.83 mil units (update)

Units in Digital Core REIT closed 1 cent higher or 1.55% up at 65.5 cents on Feb 5.

Broker's Calls

OCBC Investment initiates 'buy' on PLife REIT with fair value of $4.27

OCBC Investment initiates a 'buy' on PLife REIT, as the counter is seen as a "stable and defensive income stream".

Broker's Calls

UOB Kay Hian maintains 'overweight' rating on S-REITs; remains positive on CLAR and PLife REIT

UOB Kay Hian has maintained its "overweight" rating on Singapore REITs (S-REITs).

Results

Parkway Life REIT reports 9MFY2023 DPU of 10.99 cents, 2.8% up y-o-y

The REIT's gross revenue rose by 24.6% y-o-y to $110.9 million in the 9MFY2023.
Parkway Life REIT acquires two nursing homes in Osaka for JPY1,766.4 mil - THE EDGE SINGAPORE

REITs

Parkway Life REIT acquires two nursing homes in Osaka for JPY1,766.4 mil

This will bring Parkway Life REIT’s Japan portfolio to 59 properties, worth $710.7 million in value.

Broker's Calls

Citi lowers Parkway Life REIT’s TP to $3.85 due to higher portfolio cap rate and higher discount rate

That said, the analyst has kept his “neutral” call on the REIT due to its implied total return of around 8%.

Results

Parkway Life REIT reports 1HFY2023 DPU of 7.29 cents, up 3.3% y-o-y

Unitholders will receive their distributions on Aug 30.
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