Parkway Life REIT (SGX: C2PU) recently reported its fiscal 2020 third-quarter earnings.
Despite the COVID-19 pandemic, the healthcare real estate investment trust (REIT) has experienced steady capital appreciation throughout the year.
Year to date, Parkway Life REIT’s share price has increased by 16.0%.
It is near its all-time high at S$4.29 compared to S$3.37 at the start of the year.
Parkway Life REIT’s portfolio consists of three Singapore private hospitals and 48 Japanese private nursing homes.
The REIT also owns one Japanese pharmaceutical product manufacturing facility and a handful of high-quality Malaysian healthcare assets worth S$6.8 million.
From this earnings report, it is clear why Parkway Life REIT share price has risen during these uncertain times.
In this article, we will breakdown the REIT’s recent developments and determine its outlook into the future.
Growth in top and bottom line
Parkway Life REIT reported a 0.8% growth in revenue to S$30.2 million in its third quarter, up from S$29.9 million a year ago.