First REIT posted a distribution per unit (DPU) of 2.11 cents for 2Q16, which is 1.9% up from its 2.07 cent DPU from the same quarter in the previous year.
The trust reported a 5.5% higher 2Q distributable income of $16.24 million as compared to $15.4 million 2Q15, while gross revenue was up 6.5% to $26.604 million from $24.992 million from the same quarter in the previous year.
Net property income rose by 6.9% to $26.321 million in 2Q16. For the year to date, DPU rose 2.2% to 4.22 cents from 4.13 cents a year ago.
The manager of First REIT attributed this to contributions from its Kupang property, comprising Siloam Hospitals Kupang and Lippo Plaza Kupang, which was acquired in Dec 2015.
First REIT also announced the extension of its building rights title (HGB title) for Siloam Hospitals Kebon Jeruk for a period of 20 years to August 2037.
The trust says it will continue to keep a lookout for yield-accretive acquisitions in the region to boost growth, particularly in Indonesia where its sponsor, PT Lippo Karawaci Tbk, continues to expand its healthcare portfolio to 43 hospitals for potential acquisition.
According to First REIT, the healthcare sector is expected to “continue to grow steadily with demand supported by the growing aging population and the national health insurance scheme” despite a slowdown in the Indonesian economy.
As at 9.11am, units of First REIT are up 0.39% at $1.31.
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The trust reported a 5.5% higher 2Q distributable income of $16.24 million as compared to $15.4 million 2Q15, while gross revenue was up 6.5% to $26.604 million from $24.992 million from the same quarter in the previous year.
Net property income rose by 6.9% to $26.321 million in 2Q16. For the year to date, DPU rose 2.2% to 4.22 cents from 4.13 cents a year ago.
The manager of First REIT attributed this to contributions from its Kupang property, comprising Siloam Hospitals Kupang and Lippo Plaza Kupang, which was acquired in Dec 2015.
First REIT also announced the extension of its building rights title (HGB title) for Siloam Hospitals Kebon Jeruk for a period of 20 years to August 2037.
The trust says it will continue to keep a lookout for yield-accretive acquisitions in the region to boost growth, particularly in Indonesia where its sponsor, PT Lippo Karawaci Tbk, continues to expand its healthcare portfolio to 43 hospitals for potential acquisition.
According to First REIT, the healthcare sector is expected to “continue to grow steadily with demand supported by the growing aging population and the national health insurance scheme” despite a slowdown in the Indonesian economy.
As at 9.11am, units of First REIT are up 0.39% at $1.31.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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