Gross revenue, however, fell by 2.7% y-o-y to $72.4 million due to the depreciation of the Japanese yen (JPY) against the Singapore dollar (SGD) but was offset by the contributions from the two new nursing homes added in October 2023.
Analysts are mostly positive on Parkway Life REIT (PLife REIT) after the REIT reported a higher distribution per unit (DPU) of 7.54 cents for the 1HFY2024 ended June 30, 3.5% up y-o-y.
CGS International (CGSI) analysts Lock Mun Yee and Natalie Ong noted that it was “business as usual” for the REIT as its DPU stood in line with expectations at 50% of their FY2024 forecast.
