On 26th April 2016, Parkway Life REIT announces its 1Q 2016 results.
Distribution Per Unit (“DPU”) fell 7% to 2.99 cents from 3.21 cents. The fall in distributable amount was due to a missing one off divestment gains as compared in 2015.
Gross revenue grew by 8.6% and
Net Property Income (“NPI”) grew by 8.5%. I will consider the result decent although DPU fell which we know it was due to a missing one off divestment gains.
|
1Q2016
(S$’000) |
1Q2015
(S$’000) |
YoY(%) |
| Gross Revenue |
26,901 |
24,773 |
8.6 |
| Net Property Income |
25,135 |
23,165 |
8.5 |
| Distributable Amount |
18,097 |
19,463 |
(7.0) |
| Distribution Per Unit (“DPU”) (cents) |
2.99 |
3.21 |
(7.0) |
Net Property Income (NPI)
The increase in NPI was due to rent contribution from the properties acquired in 1Q2015. (Parkway Life REIT Purchase New Japan Nursing Home)
Debt Maturity Profile
The
weighted average term to maturity ......
