Stock Name: ParkwayLife Reit
Company Name: PARKWAYLIFE REIT
Company Name: PARKWAYLIFE REIT
| Research House: CIMB | Price Call: BUY | Target Price: 2.60 |
SINGAPORE (Jan 28): CIMB has raised its price target for Parkway Life REIT to $2.60 from $2.53 after increasing its distribution per unit estimates to factor in gains from the property trust's recent divestment of seven nursing homes in Japan.
The $13.5-million gain will be distributed to investors in 2015 once the sales proceeds are repatriated from Japan.
With the additional payout, Parkway Life's total distribution for 2015 could amount to 13.7 cents a unit, according to CIMB analyst Tan Xuan, who has an "add" rating on the stock.
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