*Official* Parkway Life Reit (SGX: C2PU)

[thegodfather]

Wait for 8% I show hand.

Now only nibble abit here and there.

I think it's really quite a good counter though yield is not high. If it's stable. It's good. That said, do you see parkway dropping more? Not sure if it's due to the whole volatile surroundings we are at. STI below 2600

No 8% no buy.

 

[Genosis]

btw u all know their debt profile ma?
the last time i researched this reit
all their debt is on floating rates

if interest rates go up, will this be a problem? since they dont fixed their rates

From the Nov 2015 report...

'Parkway Life’s debt profile remains solid, with effective all-in cost of debt of 1.5% and a interest cover ratio of 9.9 times. The REIT added that 78% of its debt is hedged against interest rate exposure.'

 

[sandwicher]

http://plifereit.listedcompany.com/...r_Relations_Presentation_Final_28July2015.pdf

like u see slide 36 hor, and what u copied and pasted

their all in cost only 1.5% is very low...

even for blue chip reit like CMT the interest cost is around 3%, all fixed

I wonder how they can get so low borrowing cost after hedging?
i suspect is they borrowing in foreign currency like japanese yen, which is super low rate... but then like that got extra forex risk... anyway i also not sure.. so i never invest in this reit, would prefer their slides to give more information on how to hedge interest rate and currency riskes of their debt

They entered in interest rate swaps for their debts. They only enter into foreign currency forward contracts for their net income.

Since Japan is doing QE now, the FC forward contract will hedge against the depreciating yen to ensure that their net income is hedged.

Accordingly, as they've not hedged their loans, the loans become cheaper, yet at the same time most of them are at fixed rate.

Slides are supposed to present salient points, they can't possibly put everything on the slides.

The management is very acute in their decision. Their all in cost of debt is way lower than even CMT as you've rightfully pointed out.

 

[winorlose]

CCT u dump away last time
now u load up on this

gg sia..... dont keep throwing commission to your broker leh LOL

Cct i still keeping 10k.. Haiz collect div and still gg

 

[JW2015]

Wait for 8% I show hand.

Now only nibble abit here and there.

I think it's really quite a good counter though yield is not high. If it's stable. It's good. That said, do you see parkway dropping more? Not sure if it's due to the whole volatile surroundings we are at. STI below 2600

I think different reits have different type of crowd.
I saw one article on motley fool, this uncle is getting 16% dpu from Plife @ 2.26$ price, he must have bought it 7-8 years ago??

 

[SpeedingBullet]

It's a fantastic stock but of course market isn't stupid enough to push it down so much to let us in... we must wait for Mr. Market to get really irrational.

 

[Genosis]

... we must wait for Mr. Market to get really irrational.

Ya.....usually after a devastating Japanese earthquake.

 

[motome]

Congrats to us

Parkway Life Reit Q4 DPU up 16.1% to 3.37 Singapore cents
JAN 26, 20168:56 PM

PARKWAY Life Reit on Tuesday said distribution per unit (DPU) for the fourth quarter rose 16.1 per cent to 3.37 Singapore cents, from 2.9 cents the same period a year ago.

This was on the back of contribution from higher yielding properties acquired from the asset recycling initiative completed in March 2015 and higher rent from the Singapore properties, offset by the depreciation of the Japanese yen, it said. Net property income rose 4.8 per cent from the year-ago quarter to S$24.6 million.

 

[Tooi Kono Machi De]

When this REIT wanna let me enter

 

[JW2015]

When this REIT wanna let me enter

Just enter. It's a leap of faith.. Lol

 

[JW2015]

Apparently it look good but when read seven properties in japan was divested & distributed to unit holders, if excluded this income, distributable Income increase only 2.2%, & Distribution per unit will be decrease.
EPS drop nearly 4 folds quarterly ,& decrease nearly 50% from fy14.
Nav drop 2cts to $1.66
p/book value = 1.3 probably the highest among all reits.
Total return for the period fall 74.5%
The only good thing is the Dept/Asset is still maintain low.
Overall ,Preit is sliding down from the past !

Plife Presentation for 2015Q2. pg 10 and 11.
"Notwithstanding the divestment of 7 Japan properties, revenue grew by
1.2% and 1.0% to $25.6 million and $50.4 million for 2Q 2015 and 1H 2015
respectively".
"Increase in NPI is largely due to upward minimum guarantee rent revision of Spore hospitals by 2.81%"

 

[sandwicher]

Apparently it look good but when read seven properties in japan was divested & distributed to unit holders, if excluded this income, distributable Income increase only 2.2%, & Distribution per unit will be decrease.
EPS drop nearly 4 folds quarterly ,& decrease nearly 50% from fy14.
Nav drop 2cts to $1.66
p/book value = 1.3 probably the highest among all reits.
Total return for the period fall 74.5%
The only good thing is the Dept/Asset is still maintain low.
Overall ,Preit is sliding down from the past !

You just anyhow give numbers

Revenue up 1.5%
Net income up 1.6%
DPU up 1.8% (excluding one off gain)

You are sliding down from your chair instead?

 

[gamerx]

Congrats to us

Parkway Life Reit Q4 DPU up 16.1% to 3.37 Singapore cents
JAN 26, 20168:56 PM


PARKWAY Life Reit on Tuesday said distribution per unit (DPU) for the fourth quarter rose 16.1 per cent to 3.37 Singapore cents, from 2.9 cents the same period a year ago.

This was on the back of contribution from higher yielding properties acquired from the asset recycling initiative completed in March 2015 and higher rent from the Singapore properties, offset by the depreciation of the Japanese yen, it said. Net property income rose 4.8 per cent from the year-ago quarter to S$24.6 million.

Huat ah!!!

 

[Perisher]

You just anyhow give numbers

Revenue up 1.5%
Net income up 1.6%
DPU up 1.8% (excluding one off gain)

You are sliding down from your chair instead?

Maybe he shorted.

 

[JW2015]

Maybe he shorted.

I dunno. But really bad to pour black water without reading the slides.. Hurt our feelings and holdings
And open new thread when there is already an *official* one... Hump!!

 

[Some-one]

Plife Presentation for 2015Q2. pg 10 and 11.
"Notwithstanding the divestment of 7 Japan properties, revenue grew by
1.2% and 1.0% to $25.6 million and $50.4 million for 2Q 2015 and 1H 2015
respectively".
"Increase in NPI is largely due to upward minimum guarantee rent revision of Spore hospitals by 2.81%"

http://infopub.sgx.com/FileOpen/Divestment Announcement.ashx?App=Announcement&FileID=329573

The divestment which sees Parkway Life REIT unlocking value from properties which are
of less strategic value is in line with the Manager’s recycling strategy to rebalance and
strengthen the overall quality and growth potential of Parkway Life REIT’s Japan portfolio.
The divestment will further strengthen Parkway Life REIT’s balance sheet and provide
greater financial flexibility for Parkway Life REIT to seize other attractive investment
opportunities offering better value, which would serve to enhance the overall value and
growth potential of Parkway Life REIT.

 

[thegodfather]

http://plifereit.listedcompany.com/stock_fundamentals.html

current price 2.22 the yield only 4.8%? or am i seeing something wrong. base on my calculation is around 5.5% leh

Btw the payment of 3.36cents is based on those holding shares 1 oct-31dec?

 

[Genosis]

http://plifereit.listedcompany.com/stock_fundamentals.html

current price 2.22 the yield only 4.8%? or am i seeing something wrong. base on my calculation is around 5.5% leh

Btw the payment of 3.36cents is based on those holding shares 1 oct-31dec?

Ya.....the forward yield is around 5.5%

You need to hold the shares until XD.

 

[thegodfather]

Ya.....the forward yield is around 5.5%

You need to hold the shares until XD.

huat huat.. i wanted to scoop some at 2.12 but as i was overseas on biz trip hard to monitor.. end up i saw today . good also, lets see 2.3 soon

 

[winorlose]

If go 2.3 den i dont wait for xd liao.. Haha