DBS Group Research analysts Rachel Tan and Derek Tan believe that the potential upcoming renewal of Parkway Life REIT’s (PLife REIT) Singapore hospitals master lease gives investors a rare opportunity to ride further upside on the counter.

In an April 19 research note, the analysts maintained their ‘buy’ rating for the REIT with a higher target price of $4.50 from $4.00 previously.

The 15-year master lease for PLife REIT’s Singapore hospitals ends on Aug 22, 2022. Rachel and Derek believe that IHH Healthcare, the REIT’s sponsor and master leasee, will renew the lease.

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