Sustainable rental income model including upside-sharing with Siloam International Hospitals (Siloam).
DBS Group Research has initiated coverage on First REIT with a "buy" call and 30 cents target price, on the premise that it has put in place a sustainable rental model for its portfolio of healthcare properties, according to a June 30 report by Elizabelle Pang, Rachel Tan and Derek Tan.
First REIT owns hospitals and nursing homes in Indonesia, Japan and Singapore. it has a total of 32 assets, valued at $1.15 billion.
