DB:3P51

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Parkway Life Real Estate Investment Trust

Executive Summary

Parkway Life Real Estate Investment Trust (“PLife REIT”) is one of Asia’s largest listed healthcare REITs by asset size.


Snowflake Analysis

Average dividend payer and overvalued.

Share Price & News

How has Parkway Life Real Estate Investment Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 3P51 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

4.8%

3P51

2.0%

DE REITs

-1.6%

DE Market


1 Year Return

10.3%

3P51

6.8%

DE REITs

8.3%

DE Market

Return vs Industry: 3P51 exceeded the German REITs industry which returned 4.8% over the past year.

Return vs Market: 3P51 exceeded the German Market which returned 3.7% over the past year.


Shareholder returns

3P51IndustryMarket
7 Day4.8%2.0%-1.6%
30 Day2.0%-4.3%0.2%
90 Day5.4%-0.6%12.8%
1 Year14.8%10.3%7.4%6.8%10.7%8.3%
3 Year47.4%30.3%-4.5%-17.2%3.8%-4.5%
5 Year73.1%37.6%-1.1%-21.2%9.6%-5.2%

Price Volatility Vs. Market

How volatile is Parkway Life Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Parkway Life Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?

17.47x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 3P51 (€2.17) is trading above our estimate of fair value (€1.06)

Significantly Below Fair Value: 3P51 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 3P51 is poor value based on its PE Ratio (17.5x) compared to the DE REITs industry average (8.3x).

PE vs Market: 3P51 is good value based on its PE Ratio (17.5x) compared to the German market (20.9x).


Price to Earnings Growth Ratio

PEG Ratio: 3P51's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: 3P51 is overvalued based on its PB Ratio (1.8x) compared to the DE REITs industry average (1.5x).


Next Steps

Future Growth

How is Parkway Life Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

-6.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 3P51's earnings are forecast to decline over the next 3 years (-6.5% per year).

Earnings vs Market: 3P51's earnings are forecast to decline over the next 3 years (-6.5% per year).

High Growth Earnings: 3P51's earnings are forecast to decline over the next 3 years.

Revenue vs Market: 3P51's revenue (0.9% per year) is forecast to grow slower than the German market (5.8% per year).

High Growth Revenue: 3P51's revenue (0.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 3P51's Return on Equity is forecast to be low in 3 years time (7.1%).


Next Steps

Past Performance

How has Parkway Life Real Estate Investment Trust performed over the past 5 years?

11.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 3P51 has a large one-off gain of SGD42.7M impacting its June 30 2020 financial results.

Growing Profit Margin: 3P51's current net profit margins are lower than last year .


Past Earnings Growth Analysis

Earnings Trend: 3P51's earnings have grown by 11.1% per year over the past 5 years.

Accelerating Growth: 3P51's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 3P51 had negative earnings growth (-19.9%) over the past year, making it difficult to compare to the REITs industry average (25.3%).


Return on Equity

High ROE: 3P51's Return on Equity (10.5%) is considered low.


Next Steps

Financial Health

How is Parkway Life Real Estate Investment Trust's financial position?


Financial Position Analysis

Short Term Liabilities: 3P51's short term assets (SGD42.5M) do not cover its short term liabilities (SGD251.7M).

Long Term Liabilities: 3P51's short term assets (SGD42.5M) do not cover its long term liabilities (SGD613.2M).


Debt to Equity History and Analysis

Debt Level: 3P51's debt to equity ratio (66.1%) is considered high.

Reducing Debt: 3P51's debt to equity ratio has increased from 54.2% to 66.1% over the past 5 years.

Debt Coverage: 3P51's debt is not well covered by operating cash flow (11.6%).

Interest Coverage: 3P51's interest payments on its debt are well covered by EBIT (15.9x coverage).


Balance Sheet


Next Steps

Dividend

What is Parkway Life Real Estate Investment Trust current dividend yield, its reliability and sustainability?

3.69%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 3P51's dividend (3.69%) is higher than the bottom 25% of dividend payers in the German market (1.25%).

High Dividend: 3P51's dividend (3.69%) is low compared to the top 25% of dividend payers in the German market (3.83%).


Stability and Growth of Payments

Stable Dividend: 3P51's dividends per share have been stable in the past 10 years.

Growing Dividend: 3P51's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (89%), 3P51's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 3P51's dividends in 3 years are not forecast to be well covered by earnings (100.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

9.5yrs

Average management tenure


CEO

Yean Chau Yong (54 yo)

11.67yrs

Tenure

Mr. Yean Chau Yong has been Chief Executive Officer at Parkway Trust Management Limited, the manager of Parkway Life REIT since December 2008. Mr. Yong has been Executive Director at Parkway Trust Managem ...


Leadership Team

NamePositionTenureCompensationOwnership
Yean Chau Yong
CEO & Executive Director of Parkway Trust Management Limited11.67yrsno data0.13%
SGD 1.7m
Hock Leong Loo
CFO and Head of Corporate Services & Investor Relations of Parkway Trust Management Limited11.58yrsno datano data
Seak Sze Tan
Chief Investment Officer of Parkway Trust Management Limitedno datano datano data
Annie Chen
Assistant VP & Head of Corporate Finance-Parkway Trust Management Limitedno datano datano data
Nicole Chua
Assistant VP & Head of Legal - Parkway Trust Management Limitedno datano datano data
Chin Ping Teo
VP & Head of Projects of Parkway Trust Management Limitedno datano datano data
Shawn Yap
VP & Head of Asset Management of Parkway Trust Management Limitedno datano datano data
Patricia Ng
VP & Head of Finance of Parkway Trust Management Limitedno datano datano data
Weng Bunn Lee
VP and Head of Investment & Special Project1.33yrsno datano data
Wan Mei Chan
Joint Company Secretary of Park way Trust Management Limited7.42yrsno datano data
Lai Yin Chan
Joint Company Secretary of Park way Trust Management Limitedno datano datano data
Chen Yin Liu
Chief Portfolio Officer of Parkway Trust Management Limitedno datano datano data

9.5yrs

Average Tenure

51yo

Average Age

Experienced Management: 3P51's management team is seasoned and experienced (9.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Yean Chau Yong
CEO & Executive Director of Parkway Trust Management Limited11.67yrsno data0.13%
SGD 1.7m
Soon Teck Low
Non-Executive Director of Parkway Trust Management Limited3.5yrsS$50.00kno data
Gek Choo Lee
Independent Director of Parkway Trust Management Limited4.17yrsS$87.00kno data
Rossana Binti Ahmad Rashid
Non-Executive Director of Parkway Trust Management Limited4.75yrsS$50.00kno data
Sui Ling Cheah
Independent Director of Parkway Trust Management Limited3.33yrsS$92.00kno data
Heng Joo Sim
Non-Executive Director of Parkway Trust Management Limited0.75yrS$4.38kno data
Chi-Keon Loh
Non-Executive Director at Parkway Trust Management Limited0.83yrS$14.87k0.020%
SGD 264.9k
Kian Guan Ho
Independent Chairman of Parkway Trust Management Limited3.33yrsS$110.00kno data

3.4yrs

Average Tenure

54yo

Average Age

Experienced Board: 3P51's board of directors are considered experienced (3.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Parkway Life Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Parkway Life Real Estate Investment Trust
  • Ticker: 3P51
  • Exchange: DB
  • Founded: 2007
  • Industry: Health Care REITs
  • Sector: Real Estate
  • Market Cap: S$2.160b
  • Listing Market Cap: S$1.336b
  • Shares outstanding: 605.00m
  • Website: https://www.plifereit.com

Location

  • Parkway Life Real Estate Investment Trust
  • 80 Robinson Road, No. 02-00
  • Singapore
  • 68898
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
C2PUSGX (Singapore Exchange)YesUNITSSGSGDAug 2007
3P51DB (Deutsche Boerse AG)YesUNITSDEEURAug 2007
PRKW.FOTCPK (Pink Sheets LLC)YesUNITSUSUSDAug 2007

Biography

Parkway Life Real Estate Investment Trust (“PLife REIT”) is one of Asia’s largest listed healthcare REITs by asset size. It invests in income-producing real estate and real estate related assets that are u ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/03 20:53
End of Day Share Price2020/08/03 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.