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Parkway Life Real Estate Investment
(SGX:C2PU)
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Rating:72Outperform
Price Target:
S$4.50
▲(7.91% Upside)
Action:Upgraded
Date:08/04/26
The score is driven primarily by solid financial performance (steady revenues, moderate leverage), tempered by volatility in free cash flow including a reported zero in 2025. Technicals are supportive with price above key moving averages and positive MACD, while valuation is reasonable with a mid-teens P/E and a ~3.6% dividend yield.
Positive Factors
Stable healthcare-focused rental model
Parkway Life REIT's business centers on long-term master leases to healthcare operators across Singapore and Japan. This generates predictable, contractually-backed rental income, reducing revenue volatility and supporting distributions over the medium term due to the defensive nature of healthcare real estate demand.
Negative Factors
Volatile free cash flow, zero in 2025
Material swings in free cash flow, culminating in a reported zero for 2025, weaken the REIT's discretionary capital flexibility. This raises risk around maintenance capex, acquisitions, and the ability to sustain distributions without relying on financing or asset sales over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable healthcare-focused rental model
Parkway Life REIT's business centers on long-term master leases to healthcare operators across Singapore and Japan. This generates predictable, contractually-backed rental income, reducing revenue volatility and supporting distributions over the medium term due to the defensive nature of healthcare real estate demand.
Read all positive factors
Parkway Life Real Estate Investment (C2PU) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$2.75B
Dividend Yield3.62%
Average Volume (3M)932.25K
Price to Earnings (P/E)16.9
Beta (1Y)0.18
Revenue Growth7.49%
EPS Growth50.80%
CountrySG
Employees23
SectorReal Estate
Sector Strength53
IndustryREIT - Healthcare Facilities
Share Statistics
EPS (TTM)0.25
Shares Outstanding652,686,650
10 Day Avg. Volume754,280
30 Day Avg. Volume932,253
Financial Highlights & Ratios
PEG Ratio0.41
Price to Book (P/B)1.59
Price to Sales (P/S)16.13
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$4.99Price Target Upside19.72% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.18
Revenue Forecast (FY)S$164.76M
Parkway Life Real Estate Investment Business Overview & Revenue Model
Company Description
Parkway Life Real Estate Investment Trust (PLife REIT) is recognized as one of Asia's foremost publicly listed healthcare REITs based on its significant asset holdings. The trust's investment strategy focuses on acquiring income-generating real es...
How the Company Makes Money
The company makes money mainly by earning rental income from its healthcare real estate portfolio. Its key revenue stream is contracted rent paid by property tenants (healthcare operators) under lease agreements, which are commonly structured as l...
Parkway Life Real Estate Investment Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
78
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 155.47M | 164.99M | 144.85M | 147.47M | 129.97M | 120.70M |
| Gross Profit | 130.99M | 134.61M | 126.74M | 124.59M | 107.52M | 98.43M |
| EBITDA | 31.95M | 130.82M | 113.88M | 121.20M | 112.14M | 100.01M |
| Net Income | 160.66M | 152.79M | 95.04M | 100.47M | 41.14M | 331.88M |
Balance Sheet | ||||||
| Total Assets | 2.65B | 2.65B | 2.55B | 2.33B | 2.34B | 2.35B |
| Cash, Cash Equivalents and Short-Term Investments | 45.59M | 47.77M | 29.47M | 28.50M | 40.01M | 25.79M |
| Total Debt | 902.82M | 887.54M | 886.11M | 828.47M | 851.89M | 828.01M |
| Total Liabilities | 996.48M | 982.62M | 981.20M | 919.58M | 931.66M | 910.43M |
| Stockholders Equity | 1.65B | 1.67B | 1.57B | 1.41B | 1.41B | 1.43B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 0.00 | 46.68M | 77.65M | 30.74M | 78.17M |
| Operating Cash Flow | 0.00 | 99.49M | 95.79M | 108.69M | 94.63M | 89.86M |
| Investing Cash Flow | 0.00 | -69.71M | -239.93M | -49.56M | -125.18M | -74.99M |
| Financing Cash Flow | 0.00 | -7.17M | 147.35M | -67.92M | 47.75M | -9.98M |
Parkway Life Real Estate Investment Technical Analysis
Positive
4.17
Price Trends
4.08
Positive
4.04
Positive
4.02
Positive
Market Momentum
0.05
Positive
65.60
Neutral
64.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:C2PU, the sentiment is Positive. The current price of 4.17 is below the 20-day moving average (MA) of 4.19, above the 50-day MA of 4.08, and above the 200-day MA of 4.02, indicating a bullish trend. The MACD of 0.05 indicates Positive momentum. The RSI at 65.60 is Neutral, neither overbought nor oversold. The STOCH value of 64.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:C2PU.
Parkway Life Real Estate Investment Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | S$2.75B | 16.87 | 9.87% | 3.67% | 7.49% | 50.80% | |
68 Neutral | S$3.49B | 12.76 | 6.22% | 6.74% | 5.41% | 25.34% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | S$4.38B | 14.10 | 2.77% | 4.87% | 1.18% | ― | |
63 Neutral | S$4.57B | 8.13 | 8.46% | 5.93% | 5.35% | 176.77% | |
61 Neutral | S$487.42M | 24.47 | 5.01% | 9.09% | -4.56% | -48.91% | |
56 Neutral | S$1.02B | -42.29 | -1.54% | 6.15% | 4.40% | -1142.86% |
* Real Estate Sector Average
SG:C2PU
Parkway Life Real Estate Investment
4.22
0.27
6.89%
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Keppel REIT
0.89
-0.01
-1.33%
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0.87
0.05
5.58%
SG:J85
CDL Hospitality Trusts
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0.02
2.84%
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First Real Estate Investment
0.23
-0.02
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Suntec Real Estate Investment
1.49
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Parkway Life Real Estate Investment Corporate Events
Parkway Life REIT Fully Deploys S$180m Placement to Fund French Nursing Home Deal
Aug 4, 2026
Parkway Life REIT’s manager has confirmed that the approximately S$180.0 million raised via a recent private placement has been fully deployed. The bulk of the proceeds, S$159.9 million, was used to fund the acquisition of 11 nursing homes i...
Parkway Life REIT Announces Board Changes at Its Manager
Jul 14, 2026
Parkway Trust Management Limited, the manager of Parkway Life Real Estate Investment Trust, has announced a board change effective 14 July 2026, with the resignation of Non-Independent Non-Executive Director Dato’ Sri Muthanna bin Abdullah a...
Parkway Life REIT Unitholders Back Financials, Auditor and Board at 2026 AGM
May 29, 2026
Parkway Life REIT reported at its 30 April 2026 annual general meeting that unitholders overwhelmingly approved the trust’s audited financial statements for the year ended 31 December 2025 and reappointed KPMG LLP as independent auditor, und...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.