Parkway Life REIT (PLife REIT; SGX: C2PU) has been in our portfolio for a number of years now and has given us solid capital gains and a consistent dividend yield since. This isn’t a surprise as PLife REIT enjoys a stable 15 + 15-year master lease with Parkway Hospitals in Singapore with an annual rental escalation that increases at the inflation rate + 1%. This has translated into steady distributions for PLife REIT and a distribution per unit (DPU) growth of 91.8% since its IPO.
At the time of writing, PLife REIT’s current distribution yield is around 4.79%.
As at 31 Mar 2017, PLife REIT owns a portfolio of 49 properties worth $1.7 billion comprising Mount Elizabeth Hospital, Gleneagles Hospital and Parkway East Hospital in Singapore; 45 healthcare assets in Japan; and strata-titled units at Gleneagles Intan Medical Centre in Kuala Lumpur, Malaysia.
As PLife REIT has …