First REIT announces their third quarter earnings announcements.
Not much changes in fundamentals but of note is that based dividend will be raised from SGD $0.0156 per quarter to SGD $0.0168. This is good news because they seem to be paying out $0.0156 for a long long time.
Finally we see some rent escalation in the works.
The DPU is lower than last year because last year’s 4 quarters includes capital gains from the sale of Adam Road property.
Shareholders will look forward to income contribution from 2 hospitals bought recently with debts.
Should they do it correctly as compared to LMIR, this should add income and more payout to share holders. Any spread from NPI – debt interest is a win for investors.