Parkway Life REIT property, Mount Elizabeth Hospital, in Singapore. (Photo: REITsWeek)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 announced a DPU of 3.57 Singapore cents for its 4Q 2020 and 13.79 cents for its FY 2020, representing an increase of 6.7% and 4.5% year-on-year respectively.

Quarterly gross revenue rose 9% year-on-year to SGD30.6 million in 4Q 2020 while FY 2020 gross revenue rose 4.9% to SGD120.9 million.

The growth is largely comprised of revenue contribution from the Japan property acquisitions in December 2019 and 2020, higher rent from the Singapore properties as well as the appreciation of Japanese Yen, said the REIT.

As at 31 December 2020, the REIT’s all-in cost of debt is approximately 0.53%, while gearing was at 38.5%.

The REIT’s full statement on the results can be found here.

Parkway Life REIT was last done on the SGX at SGD4.06 which implies a distribution yield of 3.4% 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.