- We project FY26 yield of close to 4.5%, and believe Parkway Life REIT is well positioned to deliver sustainable DPU growth through the execution of several growth initiatives.
1H25 DPU of 7.65 cents met expectations.
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- Gross revenue and net property income (NPI) rose by 8.1% and 8.0% y-o-y, respectively, primarily driven by the acquisition of 11 nursing homes in France and one nursing home in Japan in 2H24, as well as higher rental contributions from Singapore hospitals due to step-up lease arrangements, partially offset by depreciation of the Japanese yen.
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- Gearing stood at a healthy 35.4% as at end-June 2025, a slight increase from 34.8% as at end-December 2024. Average cost of debt remained low at 1.50%, with no long-term debt refinancing needs arising till September 2026.
- Approximately 97% of interest rate exposure is hedged, and net foreign-sourced income from Japan and France is fully hedged through 1Q29 and 1Q30, respectively.
Tax exemption on foreign-sourced income.
- Read more at SGinvestors.io.
