0337 GMT - Parkway Life REIT's recent proposed acquisition in France should bring income stability, Citi Research analyst Brandon Lee writes in a note. The acquisition of 11 nursing homes from DomusVi Group will lead to future growth opportunities in Europe, Lee says. These nursing homes will be leased to DomusVi under a 12-year term. Under the partnership, the REIT will be offered potential future opportunities on consolidation, as DomusVi intends to go asset-light, Lee says. Citi maintains a neutral rating on the REIT and a target price of S$4.00. Units are last at S$3.85.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
October 23, 2024 23:37 ET (03:37 GMT)
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