Previous post we compare Logistics SREITs, this time we would compare Healthcare REITs. As this moment, there are only 2 healthcare SREITS which are Parkway Life REIT and First REIT, very limited choices.
In my view, investors are more lean towards Parkway for its increasing DPU and share price as well as 3 renown hospital properties in Singapore. As for First REIT, investors are concern about its sponsor and near term expiring lease which post a risk of renewal with Indonesia Rupiah currency rental or lower rental rate.
Refer below comparison, as per 30th June 2019 Result:
Items Unit First Plife Lease Profile Portfolio Occupancy % 100 100 Income Received in SGD % 99.37 60.27 Highest Lease Maturity in 5 Years* % 22 59.79 Weighted Average Lease Expiry, WALE* year 8 6.66 Weighted Average Land Lease Expiry* year 64.4 74.6 Debt Profile Interest Cover Ratio time