Stock Name: PLife REIT
Company Name: PARKWAYLIFE REIT
Phillip Securities Research in a Jan 30 research report says: "PLife REIT delivered another spectacular report card for FY2011, with DPU grew 9.2% from 8.79 cents to 9.60 cents.
"The key performance indicators - gross revenue, net property income, and distributable income for FY2011, together rose in the range of 9.1%-9.6% to $87.8 million, $80.3 million and $58.1 million respectively compared to the preceding year.
"High inflationary environment has prompted us to raise our CPI rental review assumption for FY2012 from 2.5% to 6% with respect to Singapore properties. While the retention distributable income to take effect in FY2012 will net off the gains in the rental growth. FY2012 DPU is expected to dip first before heading north in the following years.
"We rollover our estimates to FY2016 and arrive a lower target price of $1.88. ACCUMULATE."
Company Name: PARKWAYLIFE REIT
| Research House: Phillip Securities | Price Call: BUY | Target Price: 1.88 |
Phillip Securities Research in a Jan 30 research report says: "PLife REIT delivered another spectacular report card for FY2011, with DPU grew 9.2% from 8.79 cents to 9.60 cents.
"The key performance indicators - gross revenue, net property income, and distributable income for FY2011, together rose in the range of 9.1%-9.6% to $87.8 million, $80.3 million and $58.1 million respectively compared to the preceding year.
"High inflationary environment has prompted us to raise our CPI rental review assumption for FY2012 from 2.5% to 6% with respect to Singapore properties. While the retention distributable income to take effect in FY2012 will net off the gains in the rental growth. FY2012 DPU is expected to dip first before heading north in the following years.
"We rollover our estimates to FY2016 and arrive a lower target price of $1.88. ACCUMULATE."
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