Since its IPO in 2007, ParkwayLife REIT (PLife REIT) has consistently increased its DPU every year. In terms of share price, it has also gained more than 150% from its IPO price.
Given its impressive performance so far, I thus decided to do an analysis on PLife REIT, which subsequently led me to invest in it during the March 2020 market correction.
As such, for this post, I will be sharing both my analysis of PLife REIT and reasons for investing in it.Note: For this analysis, I will be using updated data from PLife REIT’s unaudited full-year 2020 financial statement and results, and annual reports from the earlier years.
Table Of ContentsBusiness overviewLease structureWhat I like about ParkwayLife REITBuilt-in revenue protection and growthSteady top and bottom line growthHealthy returns to unitholdersLow debt costLong WALEPoints to considerDebt concernsHigh dividend payout percentageLease renewalConcentration riskManager’s fee structureValuationPB ratioAFFO yieldWhy I investedResilient revenueRoom...
