ParkwayLife REIT is a healthcare REIT. If you are familiar with ParkwayLife REIT, you know that their major assets are the nursing homes in Japan. Japan is not spared from the COVID-19 pandemic either.
ParkwayLife REIT has announced their 1Q2020 financial results on 22nd April 2020. Although the financial results are not as impressive as industrial REITs, ParkwayLife REIT had performed pretty well.
Gross Revenue increased by 5.2% to S$29.9 million in 1Q2020. Net Property Income (“NPI”) grew by 4.5% to S$27.7 million due to rental from newly acquired properties in 4Q2019. Distributable amount increased by 5.7% to S$21.0 million. Even though ParkwayLife REIT had planned to set aside S$1.7 million as part of COVID-19 related relief measures to support their tenants where necessary, they only retained S$850,000 in 1Q2020. Distribution Per Unit (“DPU”) still grew 1.4% to 3.32 cents...