Parkway Life REIT (PLife REIT)

The new notes are priced lower than the existing 0.58% notes, resulting in further interest cost savings for the next six years.

UOB Kay Hian analyst Jonathan Koh is maintaining his “buy” call on PLife REIT with a raised target price of $4.38 from $3.80.

The total sale consideration is 20.3% above the latest valuation and 19.8% above the net book value.

The analysts have maintained "hold" on the REIT with a higher target price of $4.11 from $4.03 previously.

Unitholders can expect to receive their DPU by Feb 26.

This translates to basic earnings per share (EPS) of 3.28 sen for the quarter, compared to EPS of 2.44 sen a year ago.

Parkway Life REIT will deliver steady distribution per unit (DPU) growth through its three-pronged growth plans, note analysts, namely asset-recycling strategies, venturing into a new market (third pillar) and acquisition pipeline from its sponsor.

With investors waiting on the sidelines to enter PLife REIT, its recently approved general mandate provides an opportunity to invest for those who felt that its yields were too low and premium to NAV too high.

SINGAPORE (Oct 26): DBS Group Research is maintaining Parkway Life REIT (PLife REIT) at “buy” given the REIT offers one of the strongest earnings visibility profiles among S-REITs, with a weighted average lease expiry of close to nine years.

SINGAPORE (July 26): The manager of Parkway Life REIT (PLife REIT) declared a 2Q18 DPU of 3.19 cents, bringing 1H18 DPU to 6.36 cents, 3.6% lower than 6.60 cents in 1H17.