Parkway Life REIT's Gleneagles Hospital. (Photo: REITsWeek)

US-based investment management company Cohen & Steers has reduced its stake in Parkway Life REIT by about 2 million units.

The reduction came as the unit price of Parkway Life REIT retreated from its multi-week high of SGD3.77 last seen on 21 February.

Parkway Life REIT is a Singapore Exchange (SGX)-listed healthcare REIT that owns a portfolio of nursing homes and medical facilities, most of which are located across Japan and Singapore.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.