Thursday, May 3, 2012

Parkway Life Reit - 1st Quarter 2012 Results

Parkway Life Real Estate Investment Trust (“PLife REIT”) posted their 1st Quarter results for 2012 (“1Q 2012”) this morning and unsurprisingly with another stable and good results. Some of the highlights of the results include:

- Gross revenue of S$22.8 million, which represents a 6% increase y-o-y from 1st Quarter 2011.

- Distribution Per Unit (DPU) of 2.56 for the quarter, which represents a 8.5% increase y-o-y from 1st Quarter 2011. With its latest closing price at 1.865, this represents an approximately 5.5% yield. For a stable reit business model with impressive growth rate year to year, this seems like a good value.

- Gearing level is at 35.3%, which is at a comfortable level with ample debt headroom and funding sources.

- Moving forward, Plife Reits do seem like it will further acquire potential quality private healthcare in Japan, boosting its already multi-properties owned in Japan.

- With increasing demand for healthcare services and the rising of ageing populations (especially in Japan), Plife Reits will definitely look to benefit from the trend.

- I am vested with 6 lots.


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