ParkwayLife REIT: Reported 3Q10 Results, with 3Q10 DPU at 2.25c, +17.6%QoQ, mainly as a result of contributions from Japanese assets acquired in Jun and Jul. Result brings 9m10 DPU to 6.4c, inline with expectations and forming 77% of FY10 estimates, translating to an annualized yield of 5.01%….
Balance sheet remains strong, with Debt structure of REIT further improving with early refinancing of $215m of its Japanese debt, while weighted average cost of debt was lowered to 2.13%, and Asset leverage at 35%. Pending Review, CIMB has Outperform call with TP of $1.91 on stock.
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