Singapore “Flyer” of the Week: Parkway Life

singapore flyer

Parkway Life Real Estate Investment Trust (SGX: C2PU), or PLife REIT, steals the limelight and is our Singapore “Flyer” of the Week, after having risen 6.5% to S$2.31 on Thursday since last Friday’s close

PLife REIT invests in income-producing real estate and real estate-related assets used primarily for healthcare and healthcare-related purposes. It has properties in Singapore, Japan and Malaysia. In our shores, it owns Mount Elizabeth Hospital, Gleneagles Hospital and Parkway East Hospital.

As of 30th September 2013, PLife REIT’s total portfolio size stands at 44 properties totalling approximately S$1.5 billion.

In early November 2013, the company released its third quarter results. For the quarter, distributions per unit increased 3.5% to 2.66 Singapore cents from 2.58 Singapore cents.

As of 30th September 2013, the gearing level of the REIT was at 35.2% and the weighted average term to maturity of the debt is 3.07 years.

The share price of the REIT has been rising since mid-December when it hit a low of S$2.12. Generally, the prices of REITs have been going up ever since the United States Federal Reserve released news of tapering from next year onwards.

Currently, PLife REIT is trading at a historical price-to-book ratio of 1.5.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.