DBS Group Research analysts Rachel Tan and Derek Tan are maintaining “buy” on the REIT, with a 12-month target price of $4.00.
Parkway Life REIT is set to continue driving growth in asset recycling, as it looks to build a potential third pillar in matured markets, say DBS Group Research. As one of Asia's largest listed healthcare REITs, Parkway Life surprised the market when it was included in the FTSE EPRA Nareit Global Developed Index last week, sending its share price above its pre-Covid-19 high of $3.74.
Parkway Life REIT invests in income-producing real estate and real estate-related assets used primarily for healthcare and healthcare-related purposes.
