FIRST REIT chart

Last update: 2022-12-30
Key statistics and financials
Revenue per share 0.07
Dividend & Yield0.03S$ (11.19%)
Beta 0.47
Market capitalization 493.04M
Operating cash flow 99.02M
ESG Scores unknown

Company description

First Real Estate Investment Trust (“First REIT”) is a real estate investment trust constituted by the Trust Deed entered into on 19 October 2006 between First REIT Management Limited (formerly Bowsprit Capital Corporation Limited) as the Manager and HSBC Institutional Trust Services (Singapore) Limited as the Trustee. First REIT was listed on the Singapore Exchange Securities Trading Limited on 11 December 2006. On 1 March 2018, HSBC Institutional Trust Services (Singapore) Limited retired as the Trustee of First REIT in favour of Perpetual (Asia) Limited. First REIT is Singapore's first healthcare real estate investment trust that aims to invest in a diversified portfolio of income-producing real estate and / or real estate-related assets in Asia that are primarily used for healthcare and / or healthcare-related purposes. Managed by First REIT Management Limited,, First REIT's portfolio consists of 20 properties located in Indonesia, Singapore and South Korea, namely 1) Siloam Hospitals Lippo Village, 2) Siloam Hospitals Kebon Jeruk, 3) Siloam Hospitals Surabaya, 4) Imperial Aryaduta Hotel & Country Club, 5) Mochtar Riady Comprehensive Cancer Centre, 6) Siloam Hospitals Lippo Cikarang, 7) Siloam Hospitals Manado & Hotel Aryaduta Manado, 8) Siloam Hospitals Makassar, 9) Siloam Hospitals Bali, 10) Siloam Hospitals TB Simatupang, 11) Siloam Hospitals Purwakarta, 12) Siloam Sriwijaya, 13) Siloam Hospitals Kupang & Lippo Plaza Kupang, 14) Siloam Hospitals Labuan Bajo, 15) Siloam Hospitals Buton & Lippo Plaza Buton, 16) Siloam Hospitals Yogyakarta, 17) Pacific Healthcare Nursing Home @ Bukit Merah, 18) Pacific Healthcare Nursing Home II @ Bukit Panjang, 19) The Lentor Residence and 20) Sarang Hospital. Its hospital assets in Indonesia are operated by PT Siloam International Hospitals Tbk, a subsidiary of PT Lippo Karawaci Tbk, a strong brand name in the Indonesian healthcare industry supported by a team of international healthcare professionals whereas The Imperial Aryaduta Hotel & Country Club and Hotel Aryaduta Manado are operated by The Aryaduta Hotel and Resort Group. The Lippo Plaza Kupang and Lippo Plaza Buton are managed by PT Lippo Malls Indonesia. In Singapore, the nursing homes at Bukit Merah and Bukit Panjang are operated by Pacific Healthcare Nursing Home Pte. Ltd. and Pacific Eldercare and Nursing Pte. Ltd., respectively. The Lentor Residence is operated by The Lentor Residence Pte. Ltd. In South Korea, the Sarang Hospital is operated by a private doctor. Through First REIT, investors can participate in an asset class that has a focus towards Asia's growing healthcare sector, which is boosted by an increase in life expectancy in Indonesia and the rest of Southeast Asia.

Sector: Real Estate - Industry: REIT—Healthcare Facilities

Financial Ratios
Quick Ratio0.68
Working Capital-1.57
Return On Equity0.1
Debt To Equity0.38
Fixed Asset Ratio-0.04
Fixed Interest Cover6.4

Financial data

Financial Statements

Cashflow Statement 2018-12-31 2019-12-31 2020-12-31 2021-12-31
Change To Liabilities -6.91M 1.47M 6.76M -3.18M
Total Cashflows From Investing Activities 418k 1.16M 1.02M 5.62M
Net Borrowings 24M -10M -140.78M -140.78M
Total Cash From Financing Activities -61.74M -96.02M -65.11M -40.08M
Change To Operating Activities -262k 2.06M -10.79M -5.46M
Issuance Of Stock 157.7M 157.7M 157.7M 157.7M
Net Income 75.88M 48.92M -352.41M 63.11M
Change In Cash 12.02M 5.22M -13.69M 31.91M
Effect Of Exchange Rate 169k 169k 169k 169k
Total Cash From Operating Activities 73.34M 100.08M 50.4M 66.2M
Depreciation 13k 13k 14k 13k
Change To Account Receivables -6.21M 10.59M 3.77M 5.54M
Other Cashflows From Financing Activities -16.95M -14.32M -17.92M -15.43M
Change To Netincome 5.73M 34.13M 399.94M 960k
Capital Expenditures -68k

Income Statement 2018-12-31 2019-12-31 2020-12-31 2021-12-31
Research Development
Income Before Tax 74.78M 75.39M -358.23M 75.81M
Net Income 75.88M 48.92M -352.41M 63.11M
Selling General Administrative 427k 430k 416k 311k
Gross Profit 102.96M 101.49M 68.06M 91.11M
Ebit 101.29M 99.9M 61.93M 88.55M
Operating Income 101.29M 99.9M 61.93M 88.55M
Interest Expense -19.15M -21.43M -20.22M -13.84M
Income Tax Expense -1.1M 26.47M -5.82M 12.7M
Total Revenue 116.2M 115.3M 79.62M 102.35M
Cost Of Revenue 13.24M 13.8M 11.56M 11.24M
Total Other Income ExpenseNet -26.51M -24.51M -420.17M -12.74M
Net Income From Continuing Ops 75.88M 48.92M -352.41M 63.11M
Net Income Applicable To Common Shares 72.47M 45.51M -355.83M 59.91M

Balance Sheet Statement 2018-12-31 2019-12-31 2020-12-31 2021-12-31
Total Liabilities 569.62M 571.42M 540.94M 397.71M
Total Stockholder Equity 869.15M 855.71M 463.97M 651.82M
Other Current Liabilities 32.39M 35.26M 19.55M 18.83M
Total Assets 1.44B 1.43B 1B 1.05B
Common Stock 387.99M 368.32M 353.47M 481.45M
Other Current Assets 4.83M 30.06M 27.91M 34.12M
Retained Earnings 418.88M 425.24M 48.51M 104.87M
Treasury Stock 62.29M 62.16M 61.99M 65.5M
Cash 27.76M 32.98M 19.29M 51.2M
Total Current Liabilities 150.76M 44.06M 223.44M 127.16M
Other Stockholder Equity 62.29M 62.16M 61.99M 65.5M
Property, Plant, and Equipment 1.35B 1.34B 939.71M 962.48M
Total Current Assets 64.98M 84.83M 65.2M 87.06M
Net Tangible Assets 869.15M 855.71M 463.97M 651.82M
Net Receivables 32.39M 21.8M 17.99M 1.74M
Accounts Payable 8.53M 8.57M 8.54M 8.4M


Insider Transactions

Here are the insider transactions of stock shares related to FIRST REIT:

Filer Name Transaction Text Ownership Date Filer Relation Shares
Tan (Kok Mian)D2022-01-21Chairman of the Board150k

Insider transaction explanations

Insider buying is the legal purchase of shares by a senior executive or director of a company. "Filer Name" corresponds to the name of the stock buyer or seller. "Transaction Text" describes the transaction. "Ownership" gives information about the transaction type. "Date" is the reported transaction date. "Filer Relation" gives the role of the insider in the company. "Shares" is the value of the transaction. You will find the complete description of the General Transaction Codes on the SEC dedicated page


Investment strategy backtesting

These are the result of three automatic investment systems applied to FIRST REIT. You will find the performance of an systematic investment system, a momentum strategy, and a buy the dip trading strategy.


Systematic investment results on FIRST REIT

Here is the result of two systematic investment strategies applied to FIRST REIT. The first strategy automatically buys the first day of the month, and the second strategy buys the fifteenth day of the month.

Systematic investment equity curve on FIRST REIT

The following chart shows the equity curve of the two systematic investment strategies applied to FIRST REIT:

FIRST REIT automated entries

The systematic investment strategy that buys the first day of the month would give a performance of -51.57% on the backtest period.

Performance at glance

Performance

-51.57 %

Latent gain

-1031.2 S$

Invested capital

1999.44 S$

Annualized return

-12.52 %
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Momentum strategy results on FIRST REIT

This is the result of two momentum investment strategies applied to FIRST REIT. The first strategy uses a momentum signal calculated on one quarter, and the second uses a momentum signal calculated on two quarters.

Momentum entry openings on FIRST REIT

The following chart shows all the entries opened by the momentum investment system on FIRST REIT:

FIRST REIT momentum entries
  • The first momentum investment strategy would give -53.37% of return on FIRST REIT. That represents -2803.45S$ of latent gain with 5252.39S$ of employed capital.
  • The second momentum investment strategy would give -61.31% of return on FIRST REIT. That represents -2606.76S$ of latent gain with 4251.52S$ of employed capital.
Performance at glance (1Q Momentum)

Performance

-53.37 %

Latent gain

-2803.45 S$

Invested capital

5252.39 S$

Annualized return

2.97 %
Performance at glance (2Q Momentum)

Performance

-61.31 %

Latent gain

-2606.76 S$

Invested capital

4251.52 S$

Annualized return

-16.84 %

Momentum equity curve on FIRST REIT

The following chart shows the equity curve of the two momentum strategies applied to FIRST REIT:

FIRST REIT momentum equity

Note: the dividends potentially given by FIRST REIT are not integrated into the calculation of the equity curve neither the performance of the strategy. The integration of the dividends will be available soon.


Employed capital on FIRST REIT

The following chart shows the employed capital evolution of the two momentum strategies on FIRST REIT since the beginning:

FIRST REIT

Note: the algorithm buys for a maximum of 250$ per entry. If the stock price is greater than 250S$, the system buys only one stock per entry. The investment system stops automatically when the financial exposure reaches 10000S$.


Buy the dip strategy result on FIRST REIT

Buy the dip entry openings on FIRST REIT

FIRST REIT

The performance achieved by the robo-advisor on FIRST REIT is 6.3%. That represents 31.5$ of latent gain with 499.94S$ of employed capital. The following chart shows FIRST REIT stock price with all the entries opened by the automated investment system.

Note: The blue line represents the weekly stock price of FIRST REIT, and the green triangles represent the entry openings. The artificall robo-advisor needs at least 100 weeks of trading history to work.

Performance at glance

Performance

6.3 %

Latent gain

31.5 S$

Invested capital

499.94 S$

Annualized return

2.97 %

Equity curve of the strategy applied to FIRST REIT

The following chart shows the result of the investment strategy applied to FIRST REIT:

FIRST REIT

Note: the dividends potentially given by FIRST REIT are not integrated into the calculation of the equity curve neither the performance of the strategy. The integration of the dividends will be available soon.


Employed capital on FIRST REIT

The following chart shows the employed capital evolution since the beginning of the investment strategy on FIRST REIT:

FIRST REIT

Note: the algorithm buys for a maximum of 250$ per entry. If the stock price is greater than 250$, the system buys only one stock per entry. The investment system stops automatically when the financial exposure reaches 10000$.


Investment strategies comparison on FIRST REIT

In this section, I will compare the three previous investment strategies applied to FIRST REIT.

Equity curve comparison on FIRST REIT

The following chart shows the equity curve of the artificall advisor, the trend folowing and the automatic investment strategies:

FIRST REIT investment strategy comparison

Employed capital comparison on FIRST REIT

FIRST REIT investment comparison

Performance comparison on FIRST REIT

Strategy Latent Profit Growth Employed capital CAGR
Automatic investment -51.57% -1031.2S$ 1999.44S$ -12.52%
Momentum 1 quarter -53.37% -2803.45S$ 5252.39S$ -13.76%
Momentum 2 quarters -61.31% -2606.76S$ 4251.52S$ -16.84%
Non-directional 6.3% 31.5S$ 499.94S$ 2.97%
Annualized return comparison

Automatic investment

-12.52 %

Momentum 1Q

-16.84 %

Momentum 2Q

-16.84 %

Non-directional

2.97 %

Correlated stocks

Here are the most positively and negatively correlated stocks with FIRST REIT:

Positive correlations

Most correlated stocks this year

  • FIRST REIT

  • Most correlated stocks last 3 months

  • Insmed Inc
  • Castle Biosciences Inc
  • FIRST REIT

  • Negative correlation

    Most negatively correlated stocks this year


    Most negatively correlated stocks last 3 months


    Note: The algorithm computes the probability of correlation between FIRST REIT and the other stocks. There may be false positives or some missing correlated stocks. If the price of FIRST REIT does not vary for 36 weeks, the correlation calculation result will be wrong.


    Company information

    Company name FIRST REIT
    Country Singapore
    City Singapore
    Address 50 Collyer Quay
    Phone 65 6435 0168
    Website www.first-reit.com
    FullTime employees
    Industry REIT—Healthcare Facilities
    Sector Real Estate
    Exchange XSES
    Ticker AW9U.XSES
    Market www.sgx.com

    FIRST REIT ESG Scores

    Environment scores

    Environment ESG Factors Scores
    Environment Score 0
    Peer Environment Performance unknown
    Environment Percentile unknown
    Palm Oil unknown
    Nuclear unknown
    Fur Leather unknown
    GMO unknown
    Coal unknown
    Pesticides unknown
    Animal Testing unknown

    Social scores

    Social ESG Factors Scores
    Social Score 0
    Peer Social Performance unknown
    Social Percentile unknown
    Highest Controversy unknown
    Peer Highest Controversy Performance unknown
    Adult unknown
    Gambling unknown
    Alcoholic unknown
    Tobacco unknown
    Catholic unknown
    Controversial Weapons unknown
    Small Arms unknown
    Military Contract unknown
    Peer Count unknown

    Related Controversy:


    Governance scores

    Governance ESG Factors Scores
    Governance Score 0
    Peer Governance Performance unknown
    Governance Percentile unknown

    ESG at glance
    Total ESG Scores: unknown
    Environment Score: 0
    Social Score: 0
    Governance Score: 0

    ESG Performance: unknown

    Peer Group: unknown

    Peer Esg Score Performance: unknown

    Rating Year: unknown

    Rating Month: unknown

    Max Age: unknown

    Percentile: unknown