Parkway Life Real Estate Investment Trust
Market Cap
S$2.2b
Last Updated
2020/02/16 12:48 UTC
Data Sources
Company Financials +
Executive Summary
Parkway Life Real Estate Investment Trust (“PLife REIT”) is one of Asia’s largest listed healthcare REITs by asset size.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -14.5% per year for the next 3 years
Snowflake Analysis
Average dividend payer with poor track record.
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: C2PU has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
1.7%
C2PU
1.8%
SG REITs
1.0%
SG Market
1 Year Return
28.6%
C2PU
14.4%
SG REITs
-1.8%
SG Market
Return vs Industry: C2PU exceeded the SG REITs industry which returned 14.4% over the past year.
Return vs Market: C2PU exceeded the SG Market which returned -1.8% over the past year.
Shareholder returns
| C2PU | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.7% | 1.8% | 1.0% |
| 30 Day | 6.5% | -0.5% | -2.9% |
| 90 Day | 11.1% | 4.1% | -1.5% |
| 1 Year | 34.1%28.6% | 21.2%14.4% | 2.2%-1.8% |
| 3 Year | 71.3%49.4% | 50.5%24.9% | 9.3%-2.2% |
| 5 Year | 88.8%48.1% | 59.3%15.0% | 9.1%-9.2% |
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
3 months ago | Simply Wall St
Can We See Significant Institutional Ownership On The Parkway Life Real Estate Investment Trust (SGX:C2PU) Share Register?6 months ago | Simply Wall St
Would Parkway Life Real Estate Investment Trust (SGX:C2PU) Be Valuable To Income Investors?8 months ago | Simply Wall St
The Parkway Life Real Estate Investment Trust (SGX:C2PU) Share Price Is Up 32% And Shareholders Are Holding OnValuation
Is Parkway Life Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?
17.65x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: C2PU (SGD3.6) is trading above our estimate of fair value (SGD3.18)
Significantly Below Fair Value: C2PU is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: C2PU is poor value based on its PE Ratio (17.7x) compared to the REITs industry average (14.8x).
PE vs Market: C2PU is poor value based on its PE Ratio (17.7x) compared to the SG market (13.1x).
Price to Earnings Growth Ratio
PEG Ratio: C2PU's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: C2PU is overvalued based on its PB Ratio (1.8x) compared to the SG REITs industry average (1x).
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?
-14.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: C2PU's earnings are forecast to decline over the next 3 years (-14.5% per year).
Earnings vs Market: C2PU's earnings are forecast to decline over the next 3 years (-14.5% per year).
High Growth Earnings: C2PU's earnings are forecast to decline over the next 3 years.
Revenue vs Market: C2PU's revenue (1.5% per year) is forecast to grow slower than the SG market (5.2% per year).
High Growth Revenue: C2PU's revenue (1.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: C2PU's Return on Equity is forecast to be low in 3 years time (7%).
Next Steps
Past Performance
How has Parkway Life Real Estate Investment Trust performed over the past 5 years?
8.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: C2PU has a large one-off gain of SGD43.0M impacting its December 31 2019 financial results.
Growing Profit Margin: C2PU's current net profit margins are lower than last year .
Past Earnings Growth Analysis
Earnings Trend: C2PU's earnings have grown by 8.4% per year over the past 5 years.
Accelerating Growth: C2PU's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: C2PU had negative earnings growth (-18.8%) over the past year, making it difficult to compare to the REITs industry average (4.2%).
Return on Equity
High ROE: C2PU's Return on Equity (10.4%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Parkway Life Real Estate Investment Trust's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: C2PU has a high level of physical assets or inventory.
Debt Coverage by Assets: C2PU's debt is not covered by short term assets (assets are 0x debt).
Financial Institutions Analysis
Asset Level: C2PU's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if C2PU has a sufficient allowance for bad loans.
Low Risk Liabilities: C2PU reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if C2PU has an acceptable proportion of non-loan assets held.
Low Risk Deposits: C2PU has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if C2PU has an appropriate level of bad loans.
Next Steps
Dividend
What is Parkway Life Real Estate Investment Trust's current dividend yield, its reliability and sustainability?
3.66%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: C2PU's dividend (3.66%) is higher than the bottom 25% of dividend payers in the SG market (2.56%).
High Dividend: C2PU's dividend (3.66%) is low compared to the top 25% of dividend payers in the SG market (5.71%).
Stability and Growth of Payments
Stable Dividend: C2PU's dividends per share have been stable in the past 10 years.
Growing Dividend: C2PU's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (89%), C2PU's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: C2PU's dividends in 3 years are not forecast to be well covered by earnings (102.2% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
9.0yrs
Average management tenure
CEO
Yean Chau Yong (53yo)
11.2yrs
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
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director of Parkway Trust Management Limited | 11.2yrs | no data | 0.12% SGD2.6m | |
| CFO and Head of Corporate Services & Investor Relations of Parkway Trust Management Limited | 11.1yrs | no data | no data | |
| Chief Investment Officer of Parkway Trust Management Limited | 0yrs | no data | no data | |
| VP & Head of Projects of Parkway Trust Management Limited | 0yrs | no data | no data | |
| VP & Head of Asset Management of Parkway Trust Management Limited | 0yrs | no data | no data | |
| VP & Head of Finance of Parkway Trust Management Limited | 0yrs | no data | no data | |
| Assistant VP and Head of Investment & Special Project | 0.8yrs | no data | no data | |
| Joint Company Secretary of Park way Trust Management Limited | 6.9yrs | no data | no data | |
| Joint Company Secretary of Park way Trust Management Limited | 0yrs | no data | no data | |
| Chief Portfolio Officer of Parkway Trust Management Limited | 0yrs | no data | no data |
9.0yrs
Average Tenure
50yo
Average Age
Experienced Management: C2PU's management team is seasoned and experienced (9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director of Parkway Trust Management Limited | 11.2yrs | no data | 0.12% SGD2.6m | |
| Non-Executive Director of Parkway Trust Management Limited | 3yrs | S$47.25k | no data | |
| Independent Director of Parkway Trust Management Limited | 3.7yrs | S$73.50k | no data | |
| Non-Executive Director of Parkway Trust Management Limited | 4.3yrs | S$47.25k | no data | |
| Independent Director of Parkway Trust Management Limited | 2.8yrs | S$73.50k | no data | |
| Non-Executive Director of Parkway Trust Management Limited | 0.3yrs | no data | no data | |
| Non-Executive Director at Parkway Trust Management Limited | 1.1yrs | no data | 0.020% SGD431.9k | |
| Chairman of Parkway Trust Management Limited | 2.8yrs | S$94.50k | no data |
2.9yrs
Average Tenure
53yo
Average Age
Experienced Board: C2PU's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.
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: C2PU
- Exchange: SGX
- Founded: 2007
- Industry: Health Care REITs
- Sector: Real Estate
- Market Cap: S$2.178b
- 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
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| C2PU | SGX (Singapore Exchange) | Yes | UNITS | SG | SGD | Aug 2007 |
| 3P51 | DB (Deutsche Boerse AG) | Yes | UNITS | DE | EUR | Aug 2007 |
| PRKW.F | OTCPK (Pink Sheets LLC) | Yes | UNITS | US | USD | Aug 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 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 53 properties with a total portfolio size of approximately S$1.96 billion as at 31 December 2019. 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 49 assets located in Japan, including one pharmaceutical product distributing and manufacturing facility in Chiba Prefecture as well as 48 high quality nursing home and care facility properties in various prefectures of Japan. It also owns strata-titled units/lots in MOB Specialist Clinics, Kuala Lumpur in Malaysia.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/16 12:48 |
| End of Day Share Price | 2020/02/14 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.