Parkway Life Real Estate Investment Trust ( (PRKWF) ) has released its Q4 earnings. Here is a breakdown of the information Parkway Life Real Estate Investment Trust presented to its investors.
Parkway Life Real Estate Investment Trust (REIT) is a Singapore-based trust that primarily invests in income-producing real estate assets related to healthcare across the Asia-Pacific region, including hospitals and nursing homes. The trust is known for its focus on healthcare-related properties, providing a stable investment opportunity in a growing sector.
For the full year ending December 31, 2024, Parkway Life REIT reported a slight decrease in gross revenue, totaling $145.3 million, down 1.5% from the previous year. Despite this, the trust managed to maintain a robust portfolio of healthcare properties, including recent acquisitions in France, which contributed to its diverse asset base.
Key financial metrics revealed a decrease in net property income to $136.6 million, reflecting a 1.8% decline from the previous year. The total return after tax before distribution also saw a reduction, amounting to $95 million, a 5.4% decrease year-over-year. The trust’s strategic acquisition of eleven nursing homes in France for approximately $157.1 million marked a significant expansion of its portfolio, enhancing its presence in the European market.
Despite the challenges, Parkway Life REIT continues to demonstrate resilience through strategic acquisitions and effective management of its diversified portfolio. The trust’s distribution policy remains robust, with a distribution per unit of 14.92 cents for the year, slightly up from the previous year.
Looking ahead, Parkway Life REIT’s management remains optimistic about the trust’s growth prospects, focusing on expanding its portfolio and optimizing asset performance to deliver sustainable returns to its unitholders.