Brokers' take

Parkway Life Reit | Add

Dec 29 close: S$2.37

Target price: S$2.53

CIMB Research, Dec 28

Parkway Life Reit (PReit) announced its maiden divestment of seven Japanese nursing homes for a total consideration of S$88.3 million and an expected divestment gain of S$12.3 million. Divestment proceeds are likely to be used for further yield-accretive acquisitions as part of PReit's asset recycling initiative. While FY15-16 DPUs (distribution per unit) and its DDM (dividend discount model)-based target price d…