Parkway Life Real Estate Investment Trust
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Parkway Life Real Estate Investment Trust (“PLife REIT”) is one of Asia’s largest listed healthcare REITs by asset size. The last earnings update was 28 days ago. More info.
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C2PU Share Price and Events
7 Day Returns
1 Year Returns
C2PU Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Parkway Life Real Estate Investment Trust (C2PU) | 0% | -0.7% | 5.8% | 4.3% | 16.5% | 15.5% |
| SG REITs | 0.5% | 0.8% | 4.7% | 4% | 15% | 12.4% |
| SG Market | 0.2% | 4.1% | 4.4% | -5.7% | 10.8% | -2.6% |
1 Year Return vs Industry and Market
- C2PU outperformed the Market in Singapore which returned -5.7% over the past year.
C2PU Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Parkway Life Real Estate Investment Trust
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Parkway Life Real Estate Investment Trust.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 3 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.1% |
| Perpetual Growth Rate | 10-Year SG Government Bond Rate | 2.3% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year SG Govt Bond Rate | 2.3% |
| Equity Risk Premium | S&P Global | 6% |
| REITs Unlevered Beta | Simply Wall St/ S&P Global | 0.54 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.537 (1 + (1- 17%) (38.94%)) |
0.807 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.81 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.3% + (0.807 * 5.96%) |
7.11% |
Discounted Cash Flow Calculation for SGX:C2PU using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Parkway Life Real Estate Investment Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (SGD, Millions) | Source |
Present Value Discounted (@ 7.11%) |
|
|---|---|---|---|
| 2019 | 83.00 | Analyst x1 | 77.49 |
| 2020 | 85.40 | Analyst x1 | 74.44 |
| 2021 | 87.10 | Analyst x1 | 70.88 |
| 2022 | 87.61 | Est @ 0.58% | 66.56 |
| 2023 | 88.57 | Est @ 1.1% | 62.83 |
| 2024 | 89.86 | Est @ 1.46% | 59.51 |
| 2025 | 91.40 | Est @ 1.71% | 56.51 |
| 2026 | 93.13 | Est @ 1.89% | 53.76 |
| 2027 | 95.00 | Est @ 2.01% | 51.20 |
| 2028 | 97.00 | Est @ 2.1% | 48.81 |
| Present value of next 10 years cash flows | SGD621.98 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= SGD97.00 × (1 + 2.3%) ÷ (7.11% – 2.3%) |
SGD2,064.41 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= SGD2,064.41 ÷ (1 + 7.11%)10 |
SGD1,038.74 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= SGD621.98 + SGD1,038.74 |
SGD1,660.72 |
| Equity Value per Share (SGD) |
= Total value / Shares Outstanding
= SGD1,660.72 / 605.00 |
SGD2.74 |
| Calculation | Result | |
|---|---|---|
| Value per share (SGD) | From above. | SGD2.74 |
| Current discount | Discount to share price of
SGD2.90
= -1 x (SGD2.90 - SGD2.74) / SGD2.74 |
-5.6% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Parkway Life Real Estate Investment Trust is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Parkway Life Real Estate Investment Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Parkway Life Real Estate Investment Trust's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in SGD | SGD0.25 |
| SGX:C2PU Share Price ** | SGX (2019-04-25) in SGD | SGD2.9 |
| Singapore REITs Industry PE Ratio | Median Figure of 39 Publicly-Listed REITs Companies | 13.69x |
| Singapore Market PE Ratio | Median Figure of 328 Publicly-Listed Companies | 13.19x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Parkway Life Real Estate Investment Trust.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = SGX:C2PU Share Price ÷ EPS (both in SGD) = 2.9 ÷ 0.25 |
11.55x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Parkway Life Real Estate Investment Trust is good value based on earnings compared to the SG REITs industry average.
- Parkway Life Real Estate Investment Trust is good value based on earnings compared to the Singapore market.
Price based on expected Growth
Does
Parkway Life Real Estate Investment Trust's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 11.55x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts |
-12.9%per year |
| Singapore REITs Industry PEG Ratio | Median Figure of 37 Publicly-Listed REITs Companies | 2.07x |
| Singapore Market PEG Ratio | Median Figure of 120 Publicly-Listed Companies | 1.58x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 11.55x ÷ -12.9% |
-0.89x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Parkway Life Real Estate Investment Trust earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Parkway Life Real Estate Investment Trust's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in SGD | SGD1.88 |
| SGX:C2PU Share Price * | SGX (2019-04-25) in SGD | SGD2.9 |
| Singapore REITs Industry PB Ratio | Median Figure of 41 Publicly-Listed REITs Companies | 0.95x |
| Singapore Market PB Ratio | Median Figure of 432 Publicly-Listed Companies | 0.76x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = SGX:C2PU Share Price ÷ Book Value per Share (both in SGD) = 2.9 ÷ 1.88 |
1.54x |
* Primary Listing of Parkway Life Real Estate Investment Trust.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Parkway Life Real Estate Investment Trust is overvalued based on assets compared to the SG REITs industry average.
Value checks
We assess Parkway Life Real Estate Investment Trust's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) Parkway Life Real Estate Investment Trust has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
C2PU Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Parkway Life Real Estate Investment Trust's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.3%.
Growth vs Market Checks
- Parkway Life Real Estate Investment Trust's earnings are expected to decrease over the next 1-3 years, this is below the Singapore market average.
- Parkway Life Real Estate Investment Trust's revenue growth is positive but not above the Singapore market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| SGX:C2PU Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts | -12.9% |
| SGX:C2PU Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts | 1.1% |
| Singapore REITs Industry Earnings Growth Rate | Market Cap Weighted Average | -3.1% |
| Singapore REITs Industry Revenue Growth Rate | Market Cap Weighted Average | 3.4% |
| Singapore Market Earnings Growth Rate | Market Cap Weighted Average | 5.9% |
| Singapore Market Revenue Growth Rate | Market Cap Weighted Average | 4.7% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 3 Analyst Estimates (S&P Global) | See Below |
| Date (Data in SGD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 117 | 98 | 82 | 3 |
| 2020-12-31 | 117 | 91 | 81 | 3 |
| 2019-12-31 | 115 | 93 | 80 | 3 |
| Date (Data in SGD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 113 | 88 | 152 |
| 2018-09-30 | 112 | 87 | 102 |
| 2018-06-30 | 111 | 85 | 100 |
| 2018-03-31 | 111 | 85 | 100 |
| 2017-12-31 | 110 | 81 | 101 |
| 2017-09-30 | 110 | 79 | 99 |
| 2017-06-30 | 110 | 82 | 97 |
| 2017-03-31 | 110 | 81 | 93 |
| 2016-12-31 | 110 | 88 | 92 |
| 2016-09-30 | 109 | 88 | 67 |
| 2016-06-30 | 107 | 85 | 63 |
| 2016-03-31 | 105 | 85 | 68 |
*GAAP earnings excluding extraordinary items.
High Growth Checks
- Parkway Life Real Estate Investment Trust's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
- Parkway Life Real Estate Investment Trust's revenue is expected to grow by 1.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 3 Analyst Estimates (S&P Global) | See Below |
All data from Parkway Life Real Estate Investment Trust Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in SGD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 0.14 | 0.14 | 0.13 | 3.00 |
| 2020-12-31 | 0.14 | 0.14 | 0.13 | 3.00 |
| 2019-12-31 | 0.13 | 0.13 | 0.13 | 3.00 |
| Date (Data in SGD Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.25 |
| 2018-09-30 | 0.17 |
| 2018-06-30 | 0.17 |
| 2018-03-31 | 0.17 |
| 2017-12-31 | 0.17 |
| 2017-09-30 | 0.16 |
| 2017-06-30 | 0.16 |
| 2017-03-31 | 0.15 |
| 2016-12-31 | 0.15 |
| 2016-09-30 | 0.11 |
| 2016-06-30 | 0.10 |
| 2016-03-31 | 0.11 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Parkway Life Real Estate Investment Trust is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Future performance checks
We assess Parkway Life Real Estate Investment Trust's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Singapore market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Singapore market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Parkway Life Real Estate Investment Trust has a total score of 0/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
C2PU Past Performance
How has Parkway Life Real Estate Investment Trust performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Parkway Life Real Estate Investment Trust's year on year earnings growth rate has been positive over the past 5 years.
- Parkway Life Real Estate Investment Trust's 1-year earnings growth exceeds its 5-year average (49.7% vs 1.3%)
- Parkway Life Real Estate Investment Trust's earnings growth has exceeded the SG REITs industry average in the past year (49.7% vs 2.3%).
Earnings and Revenue History
All data from Parkway Life Real Estate Investment Trust Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in SGD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 112.84 | 151.93 | 3.20 | |
| 2018-09-30 | 111.81 | 101.96 | 3.50 | |
| 2018-06-30 | 111.11 | 100.35 | 3.38 | |
| 2018-03-31 | 110.75 | 100.17 | 3.40 | |
| 2017-12-31 | 109.88 | 101.46 | 3.10 | |
| 2017-09-30 | 110.08 | 98.73 | 3.03 | |
| 2017-06-30 | 110.48 | 97.43 | 2.83 | |
| 2017-03-31 | 110.17 | 92.91 | 2.84 | |
| 2016-12-31 | 110.12 | 91.93 | 3.15 | |
| 2016-09-30 | 108.70 | 67.44 | 3.09 | |
| 2016-06-30 | 106.56 | 63.35 | 3.06 | |
| 2016-03-31 | 104.82 | 67.84 | 2.80 | |
| 2015-12-31 | 102.69 | 66.99 | 2.63 | |
| 2015-09-30 | 101.49 | 118.82 | 2.67 | |
| 2015-06-30 | 100.86 | 123.23 | 2.62 | |
| 2015-03-31 | 100.55 | 121.12 | 2.72 | |
| 2014-12-31 | 100.38 | 121.11 | 2.74 | |
| 2014-09-30 | 100.01 | 100.47 | 2.74 | |
| 2014-06-30 | 98.02 | 97.66 | 2.71 | |
| 2014-03-31 | 95.27 | 96.85 | 2.57 | |
| 2013-12-31 | 93.69 | 98.28 | 2.47 | |
| 2013-09-30 | 92.94 | 118.60 | 1.95 | |
| 2013-06-30 | 93.51 | 118.75 | 1.92 | |
| 2013-03-31 | 94.33 | 116.08 | 2.24 | |
| 2012-12-31 | 94.07 | 115.41 | 2.25 | |
| 2012-09-30 | 92.93 | 107.44 | 2.58 | |
| 2012-06-30 | 91.07 | 103.98 | 2.83 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Parkway Life Real Estate Investment Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Parkway Life Real Estate Investment Trust used its assets more efficiently than the SG REITs industry average last year based on Return on Assets.
- Parkway Life Real Estate Investment Trust's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Parkway Life Real Estate Investment Trust's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Parkway Life Real Estate Investment Trust has a total score of 4/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
C2PU Health
How is Parkway Life Real Estate Investment Trust's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Parkway Life Real Estate Investment Trust's finances.
The net worth of a company is the difference between its assets and liabilities.
- Parkway Life Real Estate Investment Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Parkway Life Real Estate Investment Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Parkway Life Real Estate Investment Trust Company Filings, last reported 3 months ago.
| Date (Data in SGD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 1,136.39 | 683.18 | 22.10 |
| 2018-09-30 | 1,064.10 | 681.70 | 32.01 |
| 2018-06-30 | 1,059.74 | 694.98 | 31.65 |
| 2018-03-31 | 1,059.47 | 691.70 | 26.76 |
| 2017-12-31 | 1,065.34 | 643.67 | 25.72 |
| 2017-09-30 | 1,038.55 | 652.97 | 30.79 |
| 2017-06-30 | 1,038.39 | 656.01 | 30.82 |
| 2017-03-31 | 1,038.06 | 661.42 | 28.07 |
| 2016-12-31 | 1,037.64 | 628.79 | 71.10 |
| 2016-09-30 | 1,009.53 | 676.02 | 33.85 |
| 2016-06-30 | 1,009.57 | 661.42 | 30.15 |
| 2016-03-31 | 1,016.18 | 617.76 | 24.52 |
| 2015-12-31 | 1,023.19 | 590.23 | 20.36 |
| 2015-09-30 | 1,026.06 | 602.37 | 28.96 |
| 2015-06-30 | 1,035.09 | 559.49 | 23.85 |
| 2015-03-31 | 1,034.65 | 569.46 | 20.30 |
| 2014-12-31 | 1,035.35 | 586.84 | 146.41 |
| 2014-09-30 | 984.33 | 538.42 | 34.52 |
| 2014-06-30 | 983.60 | 558.74 | 35.74 |
| 2014-03-31 | 984.42 | 551.60 | 32.76 |
| 2013-12-31 | 985.80 | 503.16 | 27.47 |
| 2013-09-30 | 953.07 | 536.09 | 39.29 |
| 2013-06-30 | 954.22 | 446.39 | 32.43 |
| 2013-03-31 | 953.51 | 454.72 | 31.19 |
| 2012-12-31 | 951.35 | 481.67 | 30.60 |
| 2012-09-30 | 897.13 | 533.31 | 41.21 |
| 2012-06-30 | 896.44 | 533.07 | 41.91 |
- Parkway Life Real Estate Investment Trust's level of debt (60.1%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (51.1% vs 60.1% today).
- Debt is not well covered by operating cash flow (12.9%, less than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 13.5x coverage).
Financial health checks
We assess Parkway Life Real Estate Investment Trust's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Parkway Life Real Estate Investment Trust has a total score of 2/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
C2PU Dividends
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
SGD2,000 of
Parkway Life Real Estate Investment Trust
shares you are expected to receive
SGD89
in your first year as a dividend.
Dividend Amount
- Parkway Life Real Estate Investment Trust's pays a higher dividend yield than the bottom 25% of dividend payers in Singapore (2.49%).
- Parkway Life Real Estate Investment Trust's dividend is below the markets top 25% of dividend payers in Singapore (5.46%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 3 Analyst Estimates (S&P Global) | See Below |
| Singapore REITs Industry Average Dividend Yield | Market Cap Weighted Average of 41 Stocks | 5.6% |
| Singapore Market Average Dividend Yield | Market Cap Weighted Average of 278 Stocks | 3.9% |
| Singapore Minimum Threshold Dividend Yield | 10th Percentile | 1.6% |
| Singapore Bottom 25% Dividend Yield | 25th Percentile | 2.5% |
| Singapore Top 25% Dividend Yield | 75th Percentile | 5.5% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in SGD) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | 0.14 | 4.00 |
| 2020-12-31 | 0.13 | 4.00 |
| 2019-12-31 | 0.13 | 4.00 |
| Date (Data in SGD) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-01-28 | 0.129 | 4.489 |
| 2018-01-25 | 0.135 | 4.971 |
| 2017-03-31 | 0.121 | 4.453 |
| 2017-01-25 | 0.121 | 4.961 |
| 2016-01-26 | 0.135 | 5.550 |
| 2015-11-04 | 0.134 | 5.954 |
| 2015-07-27 | 0.134 | 5.799 |
| 2015-04-28 | 0.128 | 5.471 |
| 2015-03-31 | 0.115 | 4.766 |
| 2015-01-27 | 0.115 | 4.803 |
| 2014-04-01 | 0.108 | 4.511 |
| 2014-01-24 | 0.108 | 4.649 |
| 2013-04-01 | 0.103 | 4.280 |
| 2013-01-25 | 0.103 | 4.296 |
| 2012-11-07 | 0.103 | 4.731 |
| 2012-08-01 | 0.099 | 4.931 |
| 2012-05-03 | 0.102 | 5.467 |
| 2012-01-27 | 0.099 | 5.511 |
| 2011-11-03 | 0.096 | 5.397 |
| 2011-08-04 | 0.095 | 5.134 |
| 2011-05-05 | 0.094 | 5.198 |
| 2011-03-31 | 0.095 | 5.499 |
| 2011-01-24 | 0.095 | 5.496 |
| 2010-11-08 | 0.090 | 5.402 |
| 2010-08-06 | 0.084 | 5.286 |
| 2010-05-06 | 0.083 | 6.036 |
| 2010-01-25 | 0.082 | 6.173 |
| 2009-11-06 | 0.076 | 6.135 |
| 2009-08-06 | 0.076 | 6.651 |
| 2009-05-07 | 0.076 | 7.920 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
Parkway Life Real Estate Investment Trust's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are covered by earnings (1.1x coverage).
- Dividends after 3 years are not well covered by earnings (1x coverage).
Income/ dividend checks
We assess Parkway Life Real Estate Investment Trust's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Parkway Life Real Estate Investment Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Parkway Life Real Estate Investment Trust has a total score of 4/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
C2PU Management
CEO
| AGE | 52 |
| TENURE AS CEO | 10.3 years |
CEO Bio
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 Management Limited, the manager of Parkway Life REIT since January 29, 2009, where he previously served as the Chief Financial Officer. He has been Director at Parkway Trust Management Limited, the manager of Parkway Life REIT since January 29, 2009. Mr. Yong has several years of experience in the areas of financial management, taxation, corporate finance and treasury He joined the firm in February 2008 and served as its Chief Financial Officer. Prior to this, he was the Chief Financial Officer at the Singapore Tourism Board, overseeing its finance and corporate services functions. Before joining the Singapore Tourism Board, Mr. Yong served as the Chief Financial Officer at Ascendas Pte Ltd, where he was instrumental in the launching a trust. He has also worked as the Chief Financial Officer at the China-Singapore Suzhou Development Private Limited and Singapore-Suzhou Township Development Private Limited. He has extensive experience in property development and property investment, as well as its related financial structuring and financing. Before joining Ascendas, he held other finance and audit positions at Beijing ISS International School, Housing and Development Board and Arthur Andersen. Mr. Yong has been an Executive Director of Parkway Life Real Estate Investment Trust since January 29, 2009. He serves as a Director of Parkway Trust Management Limited. He served as an Independent Director of Hiap Tong Corporation Ltd. from October 6, 2008 to July 27, 2016 and as its Lead Independent Director until July 27, 2016. Mr. Yong is a Certified Public Accountant with the Institute of Certified Public Accountants of Singapore and has completed the Advance Management Programme in the Harvard Business School. He holds Bachelor of Accountancy degree from National University of Singapore.
CEO Compensation
- Insufficient data for Yean Chau to compare compensation growth.
- Insufficient data for Yean Chau to establish whether their remuneration is reasonable compared to companies of similar size in Singapore.
Management Team Tenure
Average tenure and age of the Parkway Life Real Estate Investment Trust management team in years:
- The average tenure for the Parkway Life Real Estate Investment Trust management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Yean Chau Yong
CEO & Executive Director of Parkway Trust Management Limited
52
10.3 yrs
Hock Leong Loo
CFO and Head of Corporate Services & Investor Relations of Parkway Trust Management Limited
48
10.3 yrs
Seak Tan
Chief Investment Officer of Parkway Trust Management Limited
50
Chin Teo
VP & Head of Projects of Parkway Trust Management Limited
Chen Yin Liu
Chief Portfolio Officer of Parkway Trust Management Limited
42
Shawn Yap
VP & Head of Asset Management of Parkway Trust Management Limited
Patricia Ng
VP & Head of Finance of Parkway Trust Management Limited
Wan Mei Chan
Joint Company Secretary of Park way Trust Management Limited
6.1 yrs
Lai Chan
Joint Company Secretary of Park way Trust Management Limited
Board of Directors Tenure
Average tenure and age of the Parkway Life Real Estate Investment Trust board of directors in years:
- The tenure for the Parkway Life Real Estate Investment Trust board of directors is about average.
Board of Directors
Kian Guan Ho
Chairman of Parkway Trust Management Limited
SGD95K
73
2 yrs
Yean Chau Yong
CEO & Executive Director of Parkway Trust Management Limited
52
10.3 yrs
Jennifer Lee
Independent Director of Parkway Trust Management Limited
SGD74K
65
2.8 yrs
Sui Ling Cheah
Independent Director of Parkway Trust Management Limited
SGD74K
47
2 yrs
See Leng Tan
Non-Executive Director of Parkway Trust Management Limited
SGD47K
53
7.8 yrs
Suet Wun Lim
Non-Executive Director of Parkway Trust Management Limited
SGD47K
58
5.2 yrs
Rossana Binti Ahmad Rashid
Non-Executive Director of Parkway Trust Management Limited
SGD47K
52
3.4 yrs
Soon Low
Non-Executive Director of Parkway Trust Management Limited
SGD47K
53
2.2 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (SGD) | Value (SGD) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 23. Apr 19 | Buy | Cohen & Steers Capital Management, Inc. | Company | 18. Apr 19 | 18. Apr 19 | 1,356,600 | SGD2.90 | SGD3,934,141 | ||
| 15. Feb 19 | Buy | Cohen & Steers Capital Management, Inc. | Company | 13. Feb 19 | 13. Feb 19 | 373,600 | SGD2.81 | SGD1,050,671 | ||
| 25. Jan 19 | Buy | Cohen & Steers Capital Management, Inc. | Company | 23. Jan 19 | 23. Jan 19 | 885,200 | SGD2.71 | SGD2,398,361 | ||
Management checks
We assess Parkway Life Real Estate Investment Trust's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Parkway Life Real Estate Investment Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
C2PU News
Simply Wall St News
What You Need To Know Before Investing In Parkway Life Real Estate Investment Trust (SGX:C2PU)
Parkway Life Real Estate Investment Trust is a S$1.8b. … real estate investment trust (REIT) based in Singapore, Singapore. … See our latest analysis for Parkway Life Real Estate Investment Trust.
Simply Wall St - – Full articleOne Factor To Consider Before Investing In Parkway Life Real Estate Investment Trust (SGX:C2PU)
Parkway Life Real Estate Investment Trust (SGX:C2PU) shareholders, and potential investors, need to understand how much cash the business makes from its core operational activities, as well as how much is invested back into the business. … I will take you through Parkway Life Real Estate Investment Trust’s cash flow health and the risk-return concept based on the stock’s cash flow yield, using the most recent financial data. … The two ways to assess whether Parkway Life Real Estate Investment Trust’s FCF is sufficient, is to compare the FCF yield to the market index yield, as well as determine whether the top-line operating cash flows will continue to grow
Simply Wall St - – Full articleThe Parkway Life Real Estate Investment Trust Share Price Is Up 27% And Shareholders Are Holding On
For example, the Parkway Life Real Estate Investment Trust (SGX:C2PU) share price is up 27% in the last 5 years, clearly besting than the market return of around -1.1% (ignoring dividends). … View our latest analysis for Parkway Life Real Estate Investment Trust. … During five years of share price growth, Parkway Life Real Estate Investment Trust achieved compound earnings per share (EPS) growth of 9.1% per year.
Simply Wall St - – Full articleCan Parkway Life Real Estate Investment Trust's (SGX:C2PU) ROE Continue To Surpass The Industry Average?
By way of learning-by-doing, we'll look at ROE to gain a better understanding of Parkway Life Real Estate Investment Trust (SGX:C2PU). … Parkway Life Real Estate Investment Trust has a ROE of 13%, based on the last twelve months. … View our latest analysis for Parkway Life Real Estate Investment Trust?
Simply Wall St - – Full articleInvesting In Parkway Life Real Estate Investment Trust (SGX:C2PU): What You Need To Know
Parkway Life Real Estate Investment Trust is a S$1.6b. … real estate investment trust (REIT) based in Singapore, Singapore. … Check out our latest analysis for Parkway Life Real Estate Investment Trust.
Simply Wall St - – Full articleShould Investors Be Happy About Parkway Life Real Estate Investment Trust’s (SGX:C2PU) Cash Levels?
If you are currently a shareholder in Parkway Life Real Estate Investment Trust (SGX:C2PU), or considering investing in the stock, you need to examine how the business generates cash, and how it is reinvested. … I will take you through Parkway Life Real Estate Investment Trust’s cash flow health and the risk-return concept based on the stock’s cash flow yield, using the most recent financial data. … Parkway Life Real Estate Investment Trust generates cash through its day-to-day business, which needs to be reinvested into the company in order for it to continue operating.
Simply Wall St - – Full articleCould The Parkway Life Real Estate Investment Trust (SGX:C2PU) Ownership Structure Tell Us Something Useful?
The big shareholder groups in Parkway Life Real Estate Investment Trust (SGX:C2PU) have power over the company. … Parkway Life Real Estate Investment Trust has a market capitalization of S$1.6b, so we would expect some institutional investors to have noticed the stock. … Taking a look at the our data on the ownership groups (below), it's seems that.
Simply Wall St - – Full articleWith An ROE Of 9.5%, Has Parkway Life Real Estate Investment Trust's (SGX:C2PU) Management Done Well?
By way of learning-by-doing, we'll look at ROE to gain a better understanding Parkway Life Real Estate Investment Trust (SGX:C2PU). … Our data shows Parkway Life Real Estate Investment Trust has a return on equity of 9.5% for the last year. … View our latest analysis for Parkway Life Real Estate Investment Trust?
Simply Wall St - – Full articleParkway Life Real Estate Investment Trust (SGX:C2PU): Cash Is King
I will take you through Parkway Life Real Estate Investment Trust’s cash flow health and the risk-return concept based on the stock’s cash flow yield, using the most recent financial data. … Free cash flow (FCF) is the amount of cash Parkway Life Real Estate Investment Trust has left after it pays off its expenses, including its net capital expenditures, which is what the company needs to spend each year to maintain or grow its business operations. … There are two methods I will use to evaluate the quality of Parkway Life Real Estate Investment Trust’s FCF: firstly, I will measure its FCF yield relative to the market index yield; secondly, I will examine whether its operating cash flow will continue to grow into the future, which will give us a sense of sustainability
Simply Wall St - – Full articleWho Are The Top Investors In Parkway Life Real Estate Investment Trust (SGX:C2PU)?
In this article, I will take a quick look at Parkway Life Real Estate Investment Trust’s (SGX:C2PU) recent ownership structure – an unconventional investing subject, but an important one. … The impact of a company's ownership structure affects both its short- and long-term performance. … View our latest analysis for Parkway Life Real Estate Investment Trust
Simply Wall St - – Full articleC2PU Company Info
Description
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 used primarily for healthcare and healthcare-related purposes (including but are not limited to, hospitals, healthcare facilities and real estate and/or real estate assets used in connection with healthcare research, education, and the manufacture or storage of drugs, medicine and other healthcare goods and devices). PLife REIT owns a well-diversified portfolio of 50 properties with a total portfolio size of approximately S$1.86 billion as at 31 December 2018. It owns the largest portfolio of strategically-located private hospitals in Singapore comprising Mount Elizabeth Hospital, Gleneagles Hospital and Parkway East Hospital. In addition, it has 46 assets located in Japan, including one pharmaceutical product distributing and manufacturing facility in Chiba Prefecture as well as 45 high quality nursing home and care facility properties in various prefectures of Japan. It also owns strata-titled units/lots at Gleneagles Intan Medical Centre Kuala Lumpur in Malaysia.
Details
| Name: | Parkway Life Real Estate Investment Trust |
| C2PU | |
| Exchange: | SGX |
| Founded: | 2007 |
| SGD1,754,506,919 | |
| 605,002,386 | |
| Website: | http://www.plifereit.com |
| Address: |
Parkway Life Real Estate Investment Trust 80 Robinson Road, No. 02-00, Singapore, 068898, Singapore |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| SGX | C2PU | UNITS | Singapore Exchange | SG | SGD | 23. Aug 2007 | |
| OTCPK | PRKW.F | UNITS | Pink Sheets LLC | US | USD | 23. Aug 2007 | |
| DB | 3P51 | UNITS | Deutsche Boerse AG | DE | EUR | 23. Aug 2007 |
Number of employees
Current staff
Industry
| Health Care REITs | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/25 13:34 |
| End of day share price update: | 2019/04/25 00:00 |
| Last estimates confirmation: | 2019/03/18 |
| Last earnings filing: | 2019/03/28 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
