1. Singapore Stocks

  2. •

    Real Estate

  3. •

    REIT - Healthcare Facilities
First Real Estate Investment Trust

First Real Estate Investment Trust

FESNF
First Real Estate Investment TrustUS flagOther OTC
0.19
USD
- -
- -
402.65MMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.11
0.12
0.12
0.13
0.13
0.13
0.13
0.09
0.07
0.06
0.05
0.05
0.05
0.13
Basic EPS, GAAP
0.15
0.11
0.08
0.05
0.09
0.09
0.06
-0.41
0.04
0.02
0.03
0.02
0.01
0.06
Free Cash Flow per Basic Share
0.08
0.1
0.09
0.1
0.08
0.08
0.11
0.06
0.04
0.05
0.03
0.03
0.03
0.11
Dividend per Share
0.06
0.05
0.06
0.07
0.07
0.08
0.08
0.05
0.03
0.02
0.03
0.02
0.02
0.08
Book Value per Share
0.89
0.94
0.96
0.92
0.92
0.93
0.91
0.47
0.39
0.36
0.35
0.34
0.33
0.91
Tangible Book Value per Share
0.9
0.94
0.97
0.99
0.99
1.01
0.98
0.54
0.43
0.34
0.32
0.3
0.27
0.98
Basic Weighted Avg Shares
763
791
819
845
858
864
873
852
1,499
1,982
2,068
2,086
2,111
871
Sales/Revenue/Turnover
83
93
101
107
111
116
115
79
102
111
109
102
101
115
Operating Margin (%)
86.08
87.96
88.1
88.28
87.62
87.87
87.32
84.7
87.95
86.38
86.05
84.98
82.4
87.32
Depreciation Expense
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Income, GAAP
118
91
68
40
73
76
49
-352
63
34
63
37
29
49
Effective Tax Rate (%)
1.28
19.6
29.6
37.21
21.51
- -
35.11
- -
16.75
35.36
19.02
27.33
33.09
35.11
Profit Margin (%)
141.49
97.16
67.31
37.7
66.16
65.3
42.43
-444.31
61.67
30.18
58.34
35.96
28.83
42.43
Working Capital
6
-28
-40
-133
-195
-86
41
-158
-40
31
30
24
-213
41
LT Debt
354
370
398
272
278
387
486
294
250
450
449
453
194
486
Total Equity
683
745
791
839
852
869
856
464
652
665
660
632
560
856
Return on Invested Capital (%)
7.86
6.06
5.27
4.78
5.92
- -
4.83
- -
7.68
5.86
6.79
5.74
5.27
4.83
Return on Capital (%)
14.32
9.31
6.61
4.03
6.98
- -
4.67
- -
7.99
4.07
6.67
4.27
3.43
4.67
Return on Common Equity (%)
19.13
12.7
8.84
5.15
9.38
9.5
6.11
-58.95
12.77
5.18
8.82
5.1
4.1
6.11

Capital Structure

FRC

•

in mil. unless spec.
Jun'19
Sep'19
Dec'19
ST Debt
- -
- -
- -
LT Borrowings
485
486
486
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
872
875
877
Market Capitalization
835
853
831

Working Capital

FRC

•

in mil. unless spec.
Jun'19
Sep'19
Dec'19
Total Current Assets
53
55
85
Cash, Cash Equivalents & STI
29
29
33
Accounts Receivable, Net
22
23
20
Inventories
- -
- -
- -
Total Current Liabilities
41
42
44
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-1.15%
5.24%
-11.35%
Free Cash Flow
2.6%
7.88%
-1.56%
Net Income, GAAP
-95.03%
-27.85%
-21.15%
Sales/Revenue/Turnover
1.05%
5.56%
-1.65%
Total Cash Common Dividend
0.87%
2.4%
-6.33%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
109
2024
- -
- -
- -
- -
102
2025
- -
- -
- -
- -
101

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.03
2024
- -
- -
- -
- -
0.02
2025
- -
- -
- -
- -
0.01

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.03
2024
- -
- -
- -
- -
0.02
2025
- -
- -
- -
- -
0.02

Company Description

APIChat
CEO
Kok Mian Tan
Full Time Employees
23
Sector
Real Estate
Industry
REIT - Healthcare Facilities
Address
50 Collyer Quay Singapore Singapore 49321
IPO Date
Mar 1, 2010
Website
first-reit.com
Similar Companies
Care Property Invest N.V. (CPINV.BR)
Welltower Inc. (0LUS.L)
Ventas, Inc. (0LO4.L)
Healthcare Trust, Inc. (HTIA)
CareTrust REIT, Inc. (CTRE)
Healthcare Trust of America, Inc. (HTA)
Business
First Real Estate Investment Trust (First REIT) operates as a Singapore-listed healthcare real estate investment trust that acquires, invests in and owns a diversified portfolio of income-producing healthcare and healthcare-related properties across Asia; its assets include 15 properties in Indonesia comprising 11 hospitals such as Siloam Hospitals Lippo Karawaci, Siloam Hospitals Surabaya and Siloam Hospitals Manado, two integrated hospitals and malls, one integrated hospital and hotel, and one hotel and country club; three nursing homes in Singapore including those operated by Precious Homes Pte Ltd; and 14 nursing homes in Japan managed by operators such as Benesse Style Care Co Ltd and Hikari Heights Varus Co Ltd. The total portfolio of 32 properties carries an asset value of S$1.12 billion as at 31 December 2024, with full occupancy, a weighted average lease expiry of 10.6 years and properties operated primarily by PT Siloam International Hospitals Tbk in Indonesia alongside established third-party operators elsewhere. First REIT was listed in 2006 and is managed from its headquarters in Singapore by First REIT Management Limited, which is majority-owned by OUE Limited and OUE Healthcare Limited as sponsors holding a combined 45.17% stake, while benefiting from rights-of-first-refusal on hospital pipelines from OUE Healthcare and PT Lippo Karawaci Tbk. Recent developments include a six-month short-term lease extension in October 2025 for Siloam Hospitals Lippo Cikarang amid an ongoing strategic review triggered by a non-binding letter of intent from Siloam International Hospitals to acquire First REIT's Indonesian hospital portfolio; a planned divestment announced in October 2025 of the Imperial Aryaduta Hotel & Country Club; and lower distributions per unit in 9M2025 at 1.65 Singapore cents due to depreciation in the Indonesian Rupiah and Japanese Yen alongside rental arrears challenges with tenant PT MPU.