UOB Kay Hian analyst Jonathan Koh maintained a Buy rating on Parkway Life Real Estate Investment yesterday and set a price target of S$5.34.
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Jonathan Koh has given his Buy rating due to a combination of factors that highlight Parkway Life REIT’s robust financial performance and strategic growth initiatives. The REIT’s recent acquisition of 11 freehold nursing homes in France significantly enhances its geographical diversification and contributes to a notable portion of its net property income. This strategic expansion into Europe not only diversifies its income base but also strengthens its position in the healthcare real estate sector.
Moreover, Parkway Life REIT maintains a strong core portfolio in Singapore, with long-term master leases providing stable and predictable income. The REIT’s defensive nature is further supported by its long weighted average lease expiry and low leverage, which contribute to its financial stability. These factors collectively underpin Jonathan Koh’s confidence in the REIT’s ability to deliver sustainable growth and justify the Buy rating with a target price of S$5.34.
In another report released on August 8, DBS also maintained a Buy rating on the stock with a S$4.75 price target.