FIRST REIT- ASIA LEADING HEALTHCARE REIT WITH 10% YIELD

SPOT_ON
08-20

$First Reit(AW9U.SI)$  

Maintain BUY with an unchanged DDM-derived target price of S$0.30. First REIT is trading at an attractive 16% discount to NAV and a forward FY24e distribution yield of 9.3%. Organic growth will stem from more Indonesian hospitals achieving performance-based rent. Potential catalysts include the successful divestment of non-core assets such as Imperial Aryaduta Hotel and Country Club (IAHCC) and recycling the proceeds to fund acquisitions in developed markets as part of its First REIT 2.0 growth strategy. Our estimates remained unchanged.


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Comments

  • SPOT_ON
    08-22
    SPOT_ON
    First REIT completes acquisition of 12 nursing homes in Japan
    ā€¢ Maiden entry into a high growth market underpinned by rapidly ageing demographics and positive
    reception of eldercare facilities
    ā€¢ Acquisition of well-established freehold assets strategically located across Japan to boost income
    streams
    ā€¢ Successfully taken first step of First REIT 2.0 Growth Strategy to expand into developed markets and
    diversify geographical risk
    • SPOT_ON:Ā 

      12 well-established and high-quality assets strategically located across Japan to cater to the respective
      eldercare needs in the area. At a combined gross floor area of approximately 90,989 square metres with 1,451 rooms
  • SPOT_ON
    08-22
    SPOT_ON
    all the properties are freehold and 100% master-leased to third-party tenants who are well-
    established and experienced independent local nursing home operators.
  • SR050321
    08-20
    SR050321
    I sold at 0.23 think to buy back lower than 0.23 still waiting šŸ™
  • SPOT_ON
    08-21
    SPOT_ON
    massive few millions shares buy up just now... [Call] [Call] [Call] [Call] [Call] [Call] [Call]
  • Jireh Jeremiah
    08-30
    Jireh Jeremiah

    DYOD, can consider

    • SPOT_ON:Ā 
      [Like] [ShakeHands] [Salute] [Call] [Call] [Call] [Call]
  • SPOT_ON
    08-21
    SPOT_ON
    hospitals and old age homes in Singapore,  Indonesia and Japan!!!
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