REIT Financial News - Q2 2010 Quarterly Earnings Report for First Reit

Second quarter 2010 results for First Reit:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• DPU maintained at 1.92 cents per unit.
• Annualised DPU rose 1.0% to 7.70 cents translating to distribution yield of 8.7% based on closing price of S$0.89 on 23 July 2010.
• Confident of acquiring yield-accretive healthcare asset by early FY 2011.
• The Books will close from 5pm on 3 August 2010 for the purpose of determining Unitholders’ entitlement to the distribution. 
• The distribution will be paid on 27 August 2010.
• Comprehensive asset enhancement works for the modern boutique cancer specialist hospital, Pacific Cancer Centre @ Adam Road are making good progress and on track for mid-2011 completion.
• Confirmed with tenant on a new extension block to Lentor Residence costing some S$4.5 million which is expected to commence soon.

Author's Note
The quarterly DPU for 2Q 2010 of 1.92 cents will be paid on 27 Aug 2010, with the book closure date on 3 Aug 2010.

The DPU was 1.9 cents for the previous quarter.