Parkway Life REIT - UOB Kay Hian 2023-11-02: 9M23 In Line

• BUY Parkway Life REIT (SGX:C2PU) for rent step-up of 25.3% for Singapore hospitals in 2026 after upgrading Mount Elizabeth Hospital (MEH) to a modern and integrated multi-service medical hub.

Parkway Life REIT (PREIT) provided 9M23 business update

• - Read this at SGinvestors.io -

Resilient growth from healthcare.

• Gross revenue and NPI increased 24.6% and 26.2% y-o-y respectively in 9M23 due to contribution from five nursing homes acquired in Sep 22 and higher rent from the Singapore properties under the new master lease agreements that commenced in Aug 22, partially offset by depreciation of the Japanese yen against the Singapore dollar.
• - Read this at SGinvestors.io -
• Distributable income normalised to growth of 2.8% y-o-y after straight-line rental adjustment.

Reaping the fruits from renewal capex.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2026-02-04 Parkway Life REIT - 18th Year Of Uninterrupted DPU Growth.

Previous report by UOB:
2025-11-25 Parkway Life REIT - Healthcare Provides Variable Rent And Sustainable Growth.

Price targets by 2 other brokers at Parkway Life REIT Target Prices.

Listing of research reports at Parkway Life REIT Analyst Reports.

Relevant links:
Parkway Life REIT Share Price History,
Parkway Life REIT Announcements,
Parkway Life REIT Dividend Payout Dates & Corporate Actions,
Parkway Life REIT News