SINGAPORE (Jan 29): DBS is keepings its “buy” rating on Parkway Life Real Estate Investment Trust (PLife REIT) with an increased target price of $3.15.
In a Monday report, analyst Rachel Tan says, “PLife REIT offers one of the strongest earnings visibility profiles among SREITs, with a weighted average lease expiry (WALE) of close to nine years.”
On Friday, the REIT announced its 4Q17 results, with its DPU rising 10.6% to 3.38 cents from 3.06 cents due to the one-off distribution of divestment gains, bringing total FY17 DPU to 13.35 cents.
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