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SAC Capital initiates 'hold' on ParkwayLife REIT with TP of $4.69

Felicia Tan
Felicia Tan6/10/2022 06:09 PM GMT+08  • 3 min read
SAC Capital initiates 'hold' on ParkwayLife REIT with TP of $4.69
Parkway East Hospital under PLife REIT
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SAC Capital analyst Lam Wang Kwan has started coverage on ParkwayLife REIT (PLife REIT) with a “hold” recommendation and a target price of $4.69.

To Lam, the REIT offers several positives including its income stability and built-in rental escalation. That said, his target price and recommendation are capped by a lack of near-term catalysts.

As at his report dated June 10, PLife REIT had renewed the master leases for its three Singapore hospitals for 20.4 years till December 2042.

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