Parkway Life Reit 9M DPU rises 13.4% to S$0.131 on higher rental receipts
However, gross revenue is down 1.9% to S$115.1 million, due partly to the depreciation of the Japanese yen
Parkway Life Real Estate Investment Trust reported a 13.4% increase in distribution per unit to S$0.131 for the nine months ending September 30, 2026, compared to S$0.1156 in the same period last year. The net amount available for distribution rose to S$85.5 million, up 13.4% from S$75.4 million. The growth was driven by higher rental receipts from Singapore hospitals under an annual rent review formula and a step-up lease arrangement for nursing homes in France.
However, overall gross revenue declined 1.9% to S$115.1 million due to a weakening Japanese yen and reduced rental income from nursing homes in Japan, which were partially offset by higher contributions from Singapore hospitals. Net property income fell 2.4% to S$108 million, reflecting reduced revenue and tenant exits at five properties in Japan.
The Reit's net income from Japan is hedged, with foreign-exchange gains expected to offset the weaker revenue. Gearing stood at 34.8%, with an all-in debt cost of 1.72% and an interest coverage ratio of 7.9 times.
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