Stock Name: PLife REIT
Company Name: PARKWAYLIFE REIT
Phillip Securities Research in a Nov 3 research report says: "PLife REIT posted revenue of $22.0 million (+3.1% q-o-q, +4.1% y-o-y), net property income (NPI) of $20.1 million (+2.7% q-o-q, +3.6% y-o-y), distributable income of $14.5 million (+1.6% q-o-q, +6.8% y-o-y).
"DPU for the quarter was 2.40 cents (+1.3% q-o-q, +6.7% y-o-y). DPU for 9M11 was within our expectations, constituting 75.4% of our full year estimates and 73.5% of consensus estimates. The enhancement works at Sawayaka Nokatakan has completed and brings along an improvement of 1.43% increase in fixed gross rent of Nokatakan with a low capital outlay of $0.15 million.
"We raised FY11 DPU by 1% to 9.55 cents to account for the interest cost savings from the recent extension of interest rate hedges. Despite the adjustment of FY11 DPU, our target price remains unchanged at $1.91. MAINTAIN HOLD."
Company Name: PARKWAYLIFE REIT
| Research House: Phillip Securities | Price Call: HOLD | Target Price: 1.91 |
Phillip Securities Research in a Nov 3 research report says: "PLife REIT posted revenue of $22.0 million (+3.1% q-o-q, +4.1% y-o-y), net property income (NPI) of $20.1 million (+2.7% q-o-q, +3.6% y-o-y), distributable income of $14.5 million (+1.6% q-o-q, +6.8% y-o-y).
"DPU for the quarter was 2.40 cents (+1.3% q-o-q, +6.7% y-o-y). DPU for 9M11 was within our expectations, constituting 75.4% of our full year estimates and 73.5% of consensus estimates. The enhancement works at Sawayaka Nokatakan has completed and brings along an improvement of 1.43% increase in fixed gross rent of Nokatakan with a low capital outlay of $0.15 million.
"We raised FY11 DPU by 1% to 9.55 cents to account for the interest cost savings from the recent extension of interest rate hedges. Despite the adjustment of FY11 DPU, our target price remains unchanged at $1.91. MAINTAIN HOLD."
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