Parkway Life REIT property, Mount Elizabeth Hospital, in Singapore. (Photo: REITsWeek)

Data from Parkway Life REIT’s latest results have been updated into the Singapore REITs table.

Parkway Life REIT has reported a distribution per unit (DPU) of 3.54 cents for its 3Q, and 10.22 cents for the nine months ended 30 September 2020.

These represent increases of 7.4% and 3.8% year-on-year respectively.

The REIT’s quarterly gross revenue rose 0.8% year-on-year to SGD30.2 million (USD22 million) in 3Q 2020 while YTD 3Q 2020 gross revenue rose 3.6% to reach SGD90.3 million.

Growth was largely due to contributions from three nursing rehabilitation facilities in Japan that were acquired in 4Q 2019, higher rent from the Singapore properties, and a higher JPY to SGD.

The REIT’s interest coverage ratio stood at 17.0 times, with gearing at 38.6%.

Parkway Life REIT was last done on the SGX at SGD4.10, which implies a distribution yield of 3.45% according to data compiled on the Singapore REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.