Sunday, March 26, 2017

Healthcare S-REITs Rate-Hike Sensitivity Data Comparison (4Q2016)

Collecting rental income from hospitals and nursing homes is one of the more stable yield investment IMO. Healthcare REITs combine the best of two worlds - real estate & healthcare. With a rapidly aging population in Asia, hospitals and nursing homes will be in greater demand than ever. Parkway Life REIT is best positioned to take advantage of this demographic trend. It has the premium brand private hospitals Mount Elizabeth & Gleneagles in affluent Singapore in addition to a largely freehold portfolio of nursing homes in Japan, where adult diapers sales just overtook baby diapers in 2016.

ParkwayLife REIT:
1. Gearing: 36.3%
2. Average Debt Maturity: 3.6 years
3. Debt Maturity Profile: No long-term debt refinancing needs till FY2019
4. WALE: 8.44 years
5. Interest Coverage: 8.7 times
6. All-in debt costs: 1.4%
7. % of interest rate exposure hedged: 99%
8. NAV: $1.68

First REIT:
1. Gearing: 31.1%
2. Debt Maturity Profile: 2017 (34.2%), 2018 (35.8%), 2019 (19.8%)
3. WALE: Earliest rental renewals in 2021
4. % of debt on fixed rates: 92.3%
5. All-in debt costs: mid 3% to low 4% range
5. NAV: $1.007

1 comment:

Cory said...

I am surprise parkwaylife cost of debt is just 1.x....who is leading them ?