Parkway Life REIT DPU Increases for 3Q 2015

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Parkway Life REIT announces its results for the third quarter of 2015 (3Q 2015) on 5th November 2015. Distribution Per Unit (DPU) increases 15.6% to 3.36 cents from 2.90 cents as compared to same quarter last year.

Key Financial Indicators

Gross revenue increased 2.5% to S$26.0 million from $25.3 million. According to the press release, the higher revenue was primarily from higher yielding properties acquired from the asset recycling initiative and higher rent from the Singapore properties.

Net property income increase 2.4% to S$24.3 million from S$23.7 million.

As mentioned in the press release, the adverse impact from  the depreciation of the Japanese Yen has been mitigated as Parkway Life REIT has hedged its Japan net income for the next few years. Read More