SINGAPORE (Dec 11): OCBC Investment Research is maintaining its “buy” call on First REIT with a fair value estimate of $1.44, on expectations of an enlarged right of first refusal (ROFR) asset pool for accretive acquisitions.
This comes after the trust saw its hospital asset, PT Siloam International Hospitals TBK, register a healthy set of 3Q results as at end Sept, which saw gross operating revenue grow 21% y-o-y to Rp1.53 trillion ($32.1 billion) with increases for both inpatient and outpatient visits over the quarter.
See: First REIT's 3Q DPU up 0.9% to 2.14 cents
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