Singapore Stock Market News

First REIT - Still going strong

StockFanatic
Publish date: Wed, 14 Oct 2015, 12:35 PM
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■ 3QFY15 DPU of 2.08 Scts largely in line, making up 24% of our full-year forecast, boosted by higher topline from new acquisitions and better operational performance.

■ Lower expenses from Sarang Hospital, partly offset by higher interest expense

■ More new purchases from sponsor as well as AEI at Siloam Hospitals Surabaya could provide medium-term catalysts.

■ Healthy balance sheet with gearing at 32.9%.

Maintain Add with higher DDM-based target price of S$1.48
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