"Nonetheless, we continue to like PLife REIT for its recurring DPU growth despite the macro and FX volatility that has plagued most S-REITs since the pandemic," says analyst Ada Lim, who has kept her "buy" call on the counter.
OCBC Investment Research has raised its fair value for Parkway Life REIT from $4.49 to $4.60, despite a slight 1.3% y-o-y dip in its distribution per unit to 7.38 cents for its 2HFY2024, as the unit base enlarged following its first ever equity fund raising exercise last October.
For the six months ended Dec 31 2024, PLife REIT's revenue and net property income dipped by 0.3% and 1.1% y-o-y, as revenue booked in yen weakened when translated into Singdollar. On the other hand, contributions from newly acquired properties added to the bottom line.
