Analyst Coverage
| Research House | Analyst | Date of Latest Report | Recommendation | Target Price | Latest Report Title |
|---|---|---|---|---|---|
| Phillip Capital | Darren Chan | 28 April 2026 | ACCUMULATE | S$0.25 | First REIT: Portfolio restructuring in progress |
| OCBC | Ada Lim | 27 April 2026 | HOLD | S$0.235 | First REIT: Continued DPU decline underscores rationale for potential Indonesia exit |
| Beansprout | Gerald Wong | 7 April 2026 | NEUTRAL | S$0.26 | First REIT: Complete exit from Indonesia to de-risk portfolio |
| Phillip Capital | Darren Chan | 6 April 2026 | ACCUMULATE | S$0.25 | First REIT: Proposed divestment of Indonesian assets |
| OCBC | Ada Lim | 1 April 2026 | HOLD | S$0.245 | First REIT: Proposed exit from Indonesia |
| Grow Beansprout | Gerald Wong | 9 February 2026 | NEUTRAL | S$0.25 | First REIT: DPU lower on Rupiah and Yen depreciation |
| Phillip Capital | Darren Chan | 9 February 2026 | ACCUMULATE | S$0.29 | First REIT: FX remains a drag |
| Lim & Tan Securities | Chan En Jie | 6 February 2026 | ACCUMULATE | S$0.31 | First REIT Highlights |
| OCBC | Ada Lim | 6 February 2026 | HOLD | S$0.245 | First REIT: Pending winds of change |
| Grow Beansprout | Gerald Wong | 5 November 2025 | NEUTRAL | S$0.25 | First REIT: DPU lower on Rupiah and Yen depreciation |
| Phillip Capital | Darren Chan | 5 November 2025 | ACCUMULATE | S$0.31 | First REIT: Earnings stability tempered by FX |
| OCBC | Ada Lim | 3 November 2025 | HOLD | S$0.265 | First REIT: Interest cost savings outpaced by SGD appreciation |
| Phillip Capital | Darren Chan | 1 August 2025 | BUY | S$0.31 | First REIT: Facing ongoing FX headwinds |
| Lim & Tan Securities | Chan En Jie | 31 July 2025 | HOLD | S$0.30 | First REIT: Other Highlights |
| Grow Beansprout | Gerald Wong | 31 July 2025 | NEUTRAL | S$0.26 | First REIT: DPU declines with currency headwinds |
| OCBC | Ada Lim | 30 July 2025 | HOLD | S$0.27 | First REIT: Plagued by currency volatility |
| Bean Sprout | Gerald Wong | 3 May 2025 | NEUTRAL | S$0.26 | First REIT: Lower DPU with weakness in Indonesian Rupiah |
| Phillip Capital | Darren Chan | 2 May 2025 | BUY | S$0.32 | First REIT: Stable operations undermined by FX |
| OCBC | Ada Lim | 30 April 2025 | BUY | S$0.27 | First REIT: FX headwinds continue to bite |
| Bean Sprout | Gerald Wong | 13 April 2025 | NEUTRAL | S$0.26 | First REIT: Near-term headwinds while awaiting strategic review outcome |
| OCBC | Ada Lim | 7 April 2025 | BUY | S$0.27 | First REIT: Revisiting our FX assumptions |
| Lim & Tan Securities | Chan En Jie | 21 February 2025 | ACCUMULATE | S$0.28 | First REIT: Results Review |
| Phillip Securities | Darren Chan | 13 February 2025 | BUY | S$0.32 | First REIT: Impacted by FX headwinds |
| OCBC | Ada Lim | 12 February 2025 | HOLD | S$0.27 | First REIT: Potential portfolio refresh on the horizon |
| Lim & Tan Securities | Chan En Jie | 12 February 2025 | ACCUMULATE | S$0.29 | First REIT: Stability Amidst Currency Challenges |
| Phillip Securities | Darren Chan | 4 November 2024 | BUY | S$0.30 | First REIT: Hurt by the weak IDR and JPY |
| Maybank | Li Jialin | 10 September 2024 | BUY | S$0.28 | First REIT: Harnessing Healthcare Opportunities |
| DBS | Elizabelle Pang | 26 July 2024 | BUY | S$0.29 | 1H24 results and DPU in-line; All eyes on MPU rentals and divestment |
| KGI Securities | Alyssa Tee | 27 March 2024 | NOT RATED | – | Site visit to Siloam Hospitals |
| UOB Kay Hian | Jonathan Koh | 25 March 2024 | NOT RATED | – | Riding On Transformation And Growth Of Healthcare In Indonesia |
