*Official* Parkway Life Reit (SGX: C2PU)

[stanlawj]

A new 3-year low today, $3.38 touched.

$3.25 for 4.5% div yield.
$2.90 for 5% div yield.

 

[sohguanh]

A new 3-year low today, $3.39.

$3.25 for 4.5% div yield.
$2.90 for 5% div yield.

This stock is crazy. NAV is less than $1 but share price is $3. PE ratio at 53.95 wow! Me not going for this until the share price drop to $1 perhaps.

 

[foo9883]

This share can buy?
Daily trading volume like not a lot

 

[louisw]

Just now, I sold 50% of my Parkway Life REIT holdings at $3.55. I'm aiming to set a target of $3.65 for the remaining 50%. Quite disappointed with the performance of this REIT.

 

[foo9883]

Just now, I sold 50% of my Parkway Life REIT holdings at $3.55. I'm aiming to set a target of $3.65 for the remaining 50%. Quite disappointed with the performance of this REIT.

What's your cost price per share?

 

[louisw]

What's your cost price per share?

It's over $4.
So, I lost a significant amount of money in two healthcare REITs, Parkway and First REIT.

 

[CaptainWu]

It's over $4.
So, I lost a significant amount of money in two healthcare REITs, Parkway and First REIT.

I cut First Reit also but in fact these two counters are very different though both are HealthCare. First Reit with poor management in my opinion and suffers from full exchange risk. I keep Parkway with its strong historical data and DPU still good even in a bad time. They are getting higher exposure in Japan but performance is not really affected so far and Yen probably reached the lowest, if not but should be almost. If Yen rebounded then it will benefit Parkway.

 

[philips107]

I cut First Reit also but in fact these two counters are very different though both are HealthCare. First Reit with poor management in my opinion and suffers from full exchange risk. I keep Parkway with its strong historical data and DPU still good even in a bad time. They are getting higher exposure in Japan but performance is not really affected so far and Yen probably reached the lowest, if not but should be almost. If Yen rebounded then it will benefit Parkway.

I think Parkway has benefitted from the low interest rate on yen, and once the interest rate 'normalise' and goes up, I suspect this will eat into their rental income imo.

 

[foo9883]

I think Parkway has benefitted from the low interest rate on yen, and once the interest rate 'normalise' and goes up, I suspect this will eat into their rental income imo.

Lower rental may be offset by stronger yen also. Hard to say

 

[philips107]

Lower rental may be offset by stronger yen also. Hard to say

Parkway has hedged the yen till 2027 if I recall, which cuts both ways, so the stronger yen is not likely to help ...

 

[louisw]

I noticed that IB is offering interest on my cash balance. If your NAV is 100k or more, and your cash balance exceeds 10k, you'll get 4.83% interest. On the other hand, Parkway Reits has a dividend rate of only 4.1%, even after a drop in stock price. It used to be in the 3.x% range before. This might be one reason why the performance of REITs is not ideal.

Because if you can secure a risk-free interest rate of 4.83%, why expose yourself to risk for a lower return?

 

[stanlawj]

Anyone here who is member of GCP Global (Gabriel Yap)? What do they think of PLife Reit?

 

[foo9883]

whoa din realize yesterday laosai until now

 

[Shion]

Parkway Life REIT 1QFY2024 gross revenue falls 2.7% y-o-y, DPU up 4.0%​

https://www.theedgesingapore.com/ca...-1qfy2024-gross-revenue-falls-27-y-o-y-dpu-40

Parkway Life REIT has reported gross revenue of $36.3 million for 1QFY2024 ended March 31, 2.7% lower y-o-y. This was mainly due to depreciation of the Japanese yen, says the REIT manager April 30, partly offset by contribution from the properties acquired in 2023.

Net property income for the quarter is 2.8% lower y-o-y, at $34.3 million.

That said, the drop in revenue will be compensated by the foreign exchange gains from the settlement of the forward contracts, says the REIT manager. The REIT reported 4.0% higher distributable income of $22.9 million during the quarter from Singapore hospitals and some Japanese nursing homes with step-up lease arrangements.

The distribution per unit (DPU) for the quarter is 4.0% higher y-o-y at 3.79 cents. As the REIT makes distribution on a semi-annual basis, there is no distribution for 1QFY2024. The DPU of 3.79 cents will form part of the 1HFY2024 distribution when the REIT announces its 1HFY2024 results.

As at March 31, the REIT’s committed occupancy stands at 99.7%, with 66 leases and 34 lessees.

As at March 31, the REIT’s cash and cash equivalents are $35.7 million, up from $28.5 million at end-2023. The REIT’s investment properties decreased in value to $2.21 billion from $2.23 billion at the start of the 1QFY2024 quarter.

Net asset value per unit stood at $2.31 at the end of the quarter, down from $2.34 at end-2023.

As at March 31, the REIT’s weighted average debt expiry stands at 3.4 years, with no long-term debt refinancing needs until March 2025. Gearing, meanwhile, rose to 36.4% from 35.6%.

The REIT has a debt headroom of $361.4 million and $629.2 million before reaching 45% and 50% gearing respectively.

Units in Parkway Life REIT are trading 5 cents higher, or 1.41% up, at $3.59 on April 30.

 

[sohguanh]

At current share price this REIT is over valued IMHO.

 

[louisw]

Just now, I sold 50% of my Parkway Life REIT holdings at $3.55. I'm aiming to set a target of $3.65 for the remaining 50%. Quite disappointed with the performance of this REIT.

I sold my remaining 50% of Parkway Life REIT holdings at $3.70. In a high-interest-rate environment, there's a higher likelihood that REITs' performance may not be good.

 

[louisw]

I sold my remaining 50% of Parkway Life REIT holdings at $3.70. In a high-interest-rate environment, there's a higher likelihood that REITs' performance may not be good.

I've observed that when a REIT experiences a significant increase in value one day, there's a high likelihood that it will drop substantially the next trading day. I believe this is influenced by the current weak environment caused by high-interest rates.

 

[sohguanh]

I've observed that when a REIT experiences a significant increase in value one day, there's a high likelihood that it will drop substantially the next trading day. I believe this is influenced by the current weak environment caused by high-interest rates.

You better go check are there shortists or contra or not. For short sell SGX has a report of all the SGX counters for those info. Ppl who trade are not investors they are trading and flip and earn the difference. To magnify the difference they buy sell thousands of 100 units per trade. Reader stanlawj learn it recently

Edit: some brokers do not allow short sell nor contra as they need funds in account then can trade. Some brokers like poems allow no need funds upfront can trade liao as e.g

 

[MichealScott]

looking at this counter for the longest time. they has a moat in healthcare while other REITs playing DC and retail

 

[heng_ah]

vested at $3
I have confidence in this reits management team