First REIT   

FirstReit going up trend...

First REIT announced distributable income of S$4.68 million for third quarter FY2007 ending 30 September 2007. This exceeded forecast by 7.5%. Distribution Per Unit for the third quarter was 1.72 Singapore cents or 7.5% higher than forecast. This translates to an annualised DPU of 6.70 Singapore cents, representing a distribution yield of 8.65%, using the closing price of S$0.775 per unit on 19 October 2007. Actual revenue was booked at S$7.02 million, exceeding the forecast by 15.3% from a base of S$6.09 million. Net Property Income grew 15.6% from a forecast of S$6.06 million to an actual NPI of $7.0 million.

 

First Real Estate Investment Trust has entered a Conditional Agreement to invest in the Shanghai Woman and Child Healthcare Hospital and Hengshan Urology Hospital.

Hengshan Urology Hospital is scheduled to be operational by FY 2008.

It has signed the agreement with Mr. Tang Hong Ming and Mr. Yang Xin.

The investment will be through the subscription of redeemable convertible cumulative preference shares (RCCPS) in an offshore special vehicle incorporated by Tang and Yang.

Tang and Yang will hold a 49% interest in Shanghai Weiyi Hospital Investment and Management which owns the Properties.

The Conditional Agreement will be used to negotiate and finalize the terms and conditions of the RCCPS.

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First REIT?s distribution per Unit ("DPU") for the second quarter was 3.8% higher than forecast(1.59 Singapore cents), amounting to 1.65 Singapore cents, representing an annualised yield of 8.19% based on the closing price of S$0.805 per Unit on 20 July 2007.

The Books Closure and Distribution Payment dates are 1 August 2007 and 29 August 2007 respectively.

 

 

 

Just loaded up at 81.5c today

 

Fundamentally it may be sound though its div yield may not be the best compared to others, in terms of technicalities, I just have problem with the volume during my initial purchase.  Bad luck or not, actually I didnt even though about that. Wow - scare me to think that someday we will all grow old. 

Look up on Mapletree Logistic if you have a chance (mebbie u already have it in your portfolio).  I know the price it kinda 'high' these days compared to the sub 1.00SGD days.

 

kilroy: i believe first reit is spore first healthcare reit? as such shouldn't it be monopoly at least before other healthcare like parkway ipo? or ppl don't like un-sexy assets like old ppl home care is ominous and bad luck? every1 when old will get to visit those healthcare facilities one way or another isn't it? :O

 

Sorry to disappoint you sohguanh.  This healthcare REIT was recently taken off my list to reduce the number of REIT stocks exposure that I have.  I like the high dividend yield but I do have problem unloading when I need to previously because of its low bid/sell volume.  I know this stock doesnt give people 'heart attack' price action. hehe.

 

first reit is still trading below it's NAV. however it's sole lentor acquisition after it's last dividend payment means there is hesitation on it's coming quarter dividend yield. at current price it looks good but indon hospitals and only a few local healthcare assets cast a doubt on it's capability to repeat like it's last dividend yield. i am looking from outside and trying to convince myself to whack this stock also :P

kilroy any tots on this reit? 

 

yupz. i agree. "Low gearing but high dividend" :-)

 

Don't worry. First REIT is undervalued compared to the other REITS. It has low gearing and high dividend. It's going to provide good dividend every year.

 

Of course, am not happy with FirstReit performance. Pretty stagnant for so long while other Reits are performing better. :-(

 

one of the best div yeilds and interm of prices one of the worst lagged.indonesia hospital stock like nobody like in singapore.look at parkway, hot cakes.move 0.005c n you are so happy whereas other more 3 to 4c

 

FirstReit pretty active today. Has the sleeping beauty finally awake...?

 

Testing 0.78 again. ADX showing uptrend reigniting. CCI in super overbought condition (always the case when in a trend but is this THE REAL trend *chuckle*).

SHOW ME THE MOOLAH! *wink*

 

The information posted on Market Bites must have generate investors interest in First Reit thus there is activity in the share. First Real Estate Investment Trust - Sees more growth, acquisitions Mark Laudi, 27 Apr 2007 First Real Estate Investment Trust has affirmed its plan to distribute 6.51 cents per unit in 2007, after announcing a Q1 distribution of 1.96 cents per unit and saying economic growth continues to be strong. The healthcare business is expected to grow along with the economy, and open up opportunities to buy more hospitals. Q1 sales were 0.9% better than the prospectus forecast, at S$6 mln. The distributable income was 5.8% better than forecast, at S$4.4 mln. The business generated S$4.9 mln in cash from operations. No comparative numbers are available because First REIT is less than six months old.

 

engine started but maybe forget to pump petrol for moving a longer distance.

 

This counter is indeed getting her engine starting, anybody have different views.

 

On what basis did Merril Lynch arrive with a buy call?

 

sleepy stock taking nap again.move up to 0.80 and then down to 0.74c.cannot move in price due to nobody support this counter and maybe indonesia stock otherwise hospital stock will move up very fast like parkway holding.

 

oh... it is moving after sleeping at 0.74 cts for so long.