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Why OCBC is upgrading First REIT to 'buy'

Samantha Chiew
Samantha Chiew10/24/2017 11:34 AM GMT+08  • 2 min read
Why OCBC is upgrading First REIT to 'buy'
SINGAPORE (Oct 24): First REIT posted a 0.9% increase in its 3Q17 DPU to 2.14 cents compared to 2.12 cents last year.
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SINGAPORE (Oct 24): First REIT posted a 0.9% increase in its 3Q17 DPU to 2.14 cents compared to 2.12 cents last year.

Gross revenue grew 3.3% to $27.8 million, from $26.9 million a year ago.

This was mainly due to full-quarter contribution from Siloam Hospitals Labuan Bajo, which was acquired in December 2016, as well as higher rental income from the REIT’s properties in Indonesia, Singapore and South Korea.

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