Brokers' take

First Reit | Hold July 19 close: S$1.345 Target price: S$1.38 OCBC Investment Research, July 19

FIRST Reit (FREIT) reported an in-line set of results for Q2-2017, with gross revenue and net property income (NPI) growing 3.3 per cent year on year and 3.2 per cent year on year to S$27.5 million and S$27.2 million, respectively. Distribution per unit (DPU) increased 1.4 per cent year on year to 2.14 Singapore cents, forming 25.6 per cent of our full-year projection. Looking ahead, we are encouraged by positive Singapore inflation data, which should augur well for FREIT's base rental revisions in Indonesia. Further ahead, gross revenue is projected to receive a boost…