- We initiate coverage with a BUY recommendation on First REIT (SGX:AW9U) with a DDM-derived target price of S$0.30. First REIT's share price is trading at an attractive 20% discount to NAV and a forward FY24e distribution yield of 9.6%.
About First REIT
- - Read this at SGinvestors.io -
- First REIT is managed by First REIT Management Limited (the manager), which is headquartered in Singapore. The Manager is 60% directly held by OUE and 40% directly held by OUE Healthcare, who together are its Sponsors and hold a combined stake in First REIT of 44.7% as at Dec 23.
- - Read this at SGinvestors.io -
- We initiate coverage with a BUY recommendation on First REIT (SGX:AW9U) with a DDM-derived target price of S$0.30. First REIT's share price is trading at an attractive 20% discount to NAV and a forward FY24e distribution yield of 9.6%.
- First REIT (SGX:AW9U) was listed on the SGX in Dec 2006. It is a healthcare real estate investment trust (REIT) focused on investing in diverse yield-accretive healthcare and healthcare-related real estate assets within and outside of Asia.
- First REIT is managed by First REIT Management Limited (the manager), which is headquartered in Singapore. The Manager is 60% directly held by OUE and 40% directly held by OUE Healthcare, who together are its Sponsors and hold a combined stake in First REIT of 44.7% as at Dec 23.
- First REIT has a portfolio of 32 properties across Asia, with a total AUM of S$1.14 billion as at Dec23. These include
- Read more at SGinvestors.io.
