First REIT - DBS Research 2024-04-25: Robust Hospital Operations Clouded By FX Woes

1Q24 results a miss due to negative FX impact.

• 1Q24 First REIT's DPU was -3% q-o-q, with 1Q24 DPU of 0.60 cents missing our estimates by 5%, which translates into a full-year dividend yield of 9.5%.
• - Read this at SGinvestors.io -
• Management has shared that First REIT is currently hedging over one-third of the currency volatility on its net cash flow for FY24F and aims to increase its hedging to 50% of its cash flow, subject to hedging costs. As at 1Q24, First REIT's NAV stands at 29.5 cents, down -2% q-o-q on negative FX impact.

Fundamentals remain intact on the back of healthy operational datapoints.

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2024-11-04 First REIT - Rental Arrears An Overhang.

Price targets by 2 other brokers at First REIT Target Prices.

Listing of research reports at First REIT Analyst Reports.

Relevant links:
First REIT Share Price History,
First REIT Announcements,
First REIT Dividend Payout Dates & Corporate Actions,
First REIT News