0750 GMT - Parkway Life REIT is a "rare jewel" among Singapore REITs, as it offers highly visible, stable and sustainable earnings, DBS Group Research analysts write in a note. The REIT owns three private hospitals in Singapore, holding the majority of the market share, they say. Its recent unit-price correction implies an attractive forward 2026 yield of 5.0%, they add. A cross-check across four major valuation metrics suggests an overcorrection, positioning the units for a rebound, the analysts say. DBS raises the REIT's target price to S$4.80 from S$4.50 while maintaining a buy rating. Units are last 0.8% higher at S$3.73. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
November 26, 2024 02:50 ET (07:50 GMT)
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