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Parkway Life Real Estate Investment ( (SG:C2PU) ) just unveiled an announcement.
PLife REIT has achieved 17 years of uninterrupted growth in its recurring distribution per unit (DPU), reporting a 1.0% increase for the fiscal year 2024. Despite a slight decline in gross revenue and net property income, the company has maintained a healthy gearing ratio and has no immediate refinancing needs. A strategic move to diversify its portfolio has seen PLife REIT acquiring 11 nursing home properties in France, funded through a successful equity fundraising exercise. This expansion into Europe marks a significant step in the company’s growth strategy, indicating a commitment to reducing reliance on its Japanese market and opening new opportunities in the European healthcare real estate sector.
More about Parkway Life Real Estate Investment
Parkway Life Real Estate Investment Trust (PLife REIT) is a prominent player in the real estate investment industry, primarily focusing on investing in income-producing real estate used primarily for healthcare and healthcare-related purposes. The company is based in Singapore and has expanded its market focus beyond Asia, venturing into regions such as Europe to diversify its portfolio.
YTD Price Performance: 15.00%
Average Trading Volume: 1,535
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $1.87B
Find detailed analytics on C2PU stock on TipRanks’ Stock Analysis page.
