Short term wise , I think it may likely retest the recent low of $2.68. Breaking down of this level , it may likely slide further down towards $2.63 level then $2.60 with extension to $2.52.
DPU is about 13.4 cents .
At $2.52 , yield is about 5.31%
I think at this price level we may see some accumulation activities..
ParkwayLife Reit - It owns the largest portfolio of strategically-located private hospitals in Singapore comprising Mount Elizabeth Hospital, Gleneagles Hospital and Parkway East Hospital.
In addition, it has 45 assets located in Japan, including one pharmaceutical product distributing and manufacturing facility in Chiba Prefecture as well as 44 high quality nursing home and care facility properties in various prefectures of Japan.
It also owns strata-titled units/lots at Gleneagles Intan Medical Centre Kuala Lumpur in Malaysia.
Looking through their financial nos from 2013 to 2017, we can notice that its Total Revenue is generally rising at a CAGR of 4.3% from 93693m in 2013 to 109,881m in 2017. This is quite consistently increasing for the past 4 years which is quite encouraging/positive.
Total Revenue - is the sum of cash inflows, increase in operating accounts such as receivables and occasionally, unrealized gains generated in the course of Company's Business activities.
Next, we can take a look at the Total Net Income level which has only generated an returns of only 0.81% (CAGR) from 98.279m in 2013 to 101.464m in 2017. The Net Income seems like not growing much. Investor may want to take note of this.
This is generally below the 5to5.5 % yield expectation for investing in Reit counter.
NAV of $1.761, P/B is 1.61 times.
The Gearing % is about 40% which can be roughly calculated base on the Total Liabilites 705,881/ 1771,221 Total Assets . It is still within the guide line being set by MAS.. Generally, we would prefer gearing to be around 30-36%.
Ops cash flows seems quite pretty stable generating a Net cash from Ops is within 76 to 80m.
The current price of $2.69 is trading above it NAV of $1.761 and it is also trading above its fair value of about $2.14( using DDM to work out the fair value ) . I think it is trading at a premium price level and investor may want to take note of this.
Looking through the Historical chart patterns, we can use it as a reference .
Strong support level is around $2.20 level. The next support level would be $1.80.
Not a call to buy or sell.
Please do you own due diligence.
trade/invest base on your own decision.
Parkway Life Real Estate Investment Trust (“PLife REIT”) is one of Asia’s largest listed healthcare REITs by asset size. It invests in income-producing real estate and real estate related assets that are used primarily for healthcare and healthcare-related purposes (including but are not limited to, hospitals, healthcare facilities and real estate and/or real estate assets used in connection with healthcare research, education, and the manufacture or storage of drugs, medicine and other healthcare goods and devices). PLife REIT owns a well-diversified portfolio of 50 properties with a total portfolio size of approximately S$1.75 billion as at 31 December 2017.
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