Parkway Life REIT

Re: Parkway Life REIT

Postby winston » Thu Sep 23, 2010 8:19 am

Not vested

PARKWAY LIFE REIT - Private equity firm TPG [TPG.UL] is selling its 9.3 percent stake in Parkway Life REIT in a deal that could raise as much as S$91.1 million ($69 million), IFR Asia reported on Wednesday

Source: Reuters
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Re: Parkway Life REIT

Postby winston » Fri Oct 01, 2010 6:31 pm

Not vested. From CIMB:-


Parkway Life REIT - Japanese nursing homes upclose


Maintain Outperform with unchanged target price of S$1.91. We went with PLife’s
management on a tour to four of their nursing homes assets in Japan. This includes
three in Fukuoka (Sawayaka Obatake Ichibankan, Sawayaka Obatake Nibankan and
Sawayaka Shinmojikan) managed by Uchiyama Group and one in Yokohama (Bon
Sejour Shin-Yamashita) managed by Benesse.

We were impressed by the quality of both hardware and software aspects of the assets, are convinced that the positive outlook of the Japanese nursing care industry would ensure stable cashflows to Plife REIT.

We make no changes to our estimates, and DDM target price of S$1.91 (discount 7.2%). We continue to like management’s pro-activeness in seeking third-party acquisitions and prudent capital management. Our DPU forecast of 8.3cts for FY10 represents a 5.2% yield.


Demand for nursing homes to grow with severe rate of population aging. Japan’s
population has been aging at an alarming rate, vis-a-vis other developed nations. By
2055, persons aged 65 and above are expected to form 40.5% of the total population
from the current 29%.

Long-term care insurance (LTCI) fuels growth of nursing homes industry. The
implementation of the LTCI in 2000 offers LTCI payouts to certified persons requiring
nursing care. This sprouted the growth of nursing care sector which is dominated by the
private sector.
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Re: Parkway Life REIT

Postby winston » Tue Oct 05, 2010 8:29 pm

Not vested. From Kim Eng:-

ParkwayLife REIT (PREIT SP, $1.64, BUY, TP $1.94)

Our recent visit to PREIT’s nursing homes in Japan has gven us more reasons to be positive about the trength of its portfolio of revenue‐generating assets and organic growth potential.

Of late, management has been actively buying assets and in anticipation of more EPS‐accretive acquisitions, we reiterate our BUY call and raise our target price by 18% from $1.64 to $1.94.

http://www.remisiers.org/cms_images/ssu05102010ke.pdf
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Re: Parkway Life REIT

Postby winston » Mon Oct 18, 2010 8:47 am

Parkway Life Reit is turning its focus back on Singapore after acquiring several Japanese properties that provide elderly care services, its CEO said in an interview.

The real estate investment trust, which focuses on properties used for healthcare, is exploring opportunities to work with nursing care operators.

Source: Business Times
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Q3 2010 results for Plife

Postby sreitinvestor » Mon Nov 08, 2010 12:10 pm

Q3 2010 results for Plife:

Key Points

- DPU for the reporting quarter is 2.25 cents.

- For 3Q 2010, PLife REIT registered gross revenue of S$21.2 million, a 28.3% increase from S$16.5 million in the previous corresponding period (“3Q 2009”).

- Higher revenue for 3Q 2010 was primarily due to additional revenue contribution amounting to S$1.8 million from the Japanese properties acquired in the fourth quarter last year.

- Net property income was S$19.4 million for 3Q 2010 and S$53.9 million for YTD 2010, up 26.5% and 18.5% from 3Q 2009 and YTD 2009 respectively.

- Successfully completed the pre-emptive refinancing of its existing JPY 13.66 billion (approximately S$215.0 million) loan facilities, which constituted about 46% of the Group’s total loan portfolio.

- Effectively lengthened PLife REIT’s weighted average debt maturity period to 4.20 years with no near term refinancing requirements until FY2013.

- As at 30 September 2010, the gearing level of the Group stood at a healthy 35%.

- The committed occupancy for the overall portfolio of 100% as at 30 September 2010.

- Adjusted NAV per unit (excluding the distributable income) of S$1.36 as at 30 September 2010.

- The Books will close from 5pm on 16 Nov 2010 for the purpose of determining Unitholders’ entitlement to the distribution.

- The distribution will be paid on 13 Dec 2010.
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Re: Parkway Life REIT

Postby winston » Sun Jan 23, 2011 2:54 pm

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Parkway Life Real Estate Investment Trust (PREIT SP): The healthcare trust partly-owned by Asia’s biggest hospital operator will announce full-year results tomorrow. Parkway Life gained 0.6 percent to S$1.78.


Source: Bloomberg
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Re: Parkway Life REIT

Postby winston » Tue Jan 25, 2011 12:08 pm

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Parkway Life REIT
Result note - Still rosy - by Janice Ding
(PREIT SP / PWLR.SI, OUTPERFORM - Maintained, S$1.78 - Tgt. S$1.98, Property)

--------------------------------------------------------------------------------

FY10 DPU met Street expectations and our expectations (102% of our estimate).

We are raising our FY11-12 earnings estimates by 2-3% after assuming lower cost of debt. Following our upgrade, our DDM-based target price rises to S$1.98 from S$1.96 (discount rate 7.2%).

PLife REIT trades at 1.26x P/BV and forward yields of 5.8%. Maintain Outperform on potential acquisition catalysts.

Source: CIMB
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Re: Parkway Life REIT

Postby winston » Thu May 05, 2011 7:58 am

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PARKWAY LIFE REIT - Parkway Life REIT, which invests in healthcare related assets, said on Thursday its first quarter distribution per unit rose 14 percent year-on-year to 2.36 Singapore cents, lifted by the contribution from its Japan properties acquisition and higher rents in Singapore.

Source: Reuters
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Re: Parkway Life REIT

Postby winston » Mon Jan 30, 2012 8:16 am

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Parkway Life Real Estate Investment Trust may be in focus after it posted a 3.2 percent increase in its fourth quarter distribution per unit to 2.47 Singapore cents, helped by higher rents in Singapore and contributions from a recently acquired nursing home in Japan.

Source: Reuters
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Re: Parkway Life REIT

Postby winston » Thu May 03, 2012 8:33 am

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Parkway Life REIT said on Wednesday its first-quarter distribution per unit rose 8.5 percent from a year earlier to 2.56 Singapore cents, helped by its acquisitions in Japan, higher rent from Singapore properties and savings from lower financing costs.


Source: Reuters
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