0328 GMT - First REIT's growth is likely underpinned by diversification, Maybank Research analyst Li Jialin says, noting that the healthcare-focused REIT owns hospitals and nursing homes in Indonesia, Japan and Singapore. Maybank likes the REIT's senior-focused nursing homes in fast-aging Japan, which provides compelling long-term demand for nursing homes. The REIT's hospitals in Indonesia are also benefiting from more affluent Indonesians who choose private local hospitals over medical tourism, the analyst says in a note. Maybank forecasts an appealing 2024 distribution-per-unit yield of 10% for the REIT. It initiates coverage with a buy rating and a target price of S$0.28. Units are 2.0% lower at S$0.24. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
June 26, 2024 23:28 ET (03:28 GMT)
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