Stocks to watch: First Reit, OUE Commercial Reit, Manulife US Reit, F&N

THE following companies saw new developments that may affect trading of their securities on Monday (May 9):

First Real Estate Investment Trust (First Reit): First Reit posted a distribution per unit (DPU) of S$0.0066 for its first quarter ended Mar 31, 2022, up 1.5 per cent from S$0.0065 a year ago, its manager said in a business update last Friday night. Units of First Reit closed flat at S$0.31 on Friday, before the results were released.

OUE Commercial Real Estate Investment Trust (OUE Commercial Reit): It plans to acquire more overseas assets to grow the trust, with a focus on office assets in Sydney, Melbourne and London, said Han Khim Siew, chief executive of the Reit's manager, in an interview with The Business Times. The Reit’s top priority is to strengthen its capital structure amid rising interest rates. Units of OUE Commercial Reit closed at S$0.415 on Friday.