First Reit's DPU for Q3 up 0.9%

FIRST Real Estate Investment Trust posted a 0.9 per cent increase in distribution per unit (DPU) to 2.14 Singapore cents for the third quarter from 2.12 Singapore cents a year ago.

Gross revenue for the three months to September came in at S$27.8 million - up 3.3 per cent from a year ago - led by contribution from Siloam Hospitals Labuan Bajo, as well as higher rental income from existing properties in Indonesia, Singapore and South Korea.

Net property income rose 3.2 per cent to S$27.5 million while distributable income rose 2.2 per cent to S$16.7 million.

Based on annualised DPU of 8.58 Singapore cents and closing price of S$1.335 as at September 29 2017, the latest distribution translated to a yield of 6.4 per cent.