First REIT's property in Singapore, Pacific Healthcare nursing home in Bukit Merah (Photo: REITsWeek)

First REIT has reported distribution per unit (DPU) of 2.15 Singapore cents for its 4Q 2018, unchanged from what was reported in the corresponding period of 2017.

The healthcare REIT’s distributable income increased by 1.4% to SGD17.0 million (USD12.5 million), while gross revenue and net property income (NPI) rose 2.7% and 1.9% year-on-year to SGD29.3 million and SGD28.5 million respectively.

The REIT has attributed the growth in revenue partly to contributions from new properties acquired during the financial year ended in 31 December 2017, Siloam Hospitals Buton & Lippo Plaza Buton and Siloam Hospitals Yogyakarta.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.