First REIT Reports Modest Q1 Earnings Dip

First Real Estate Investment Trust (SG:AW9U) has released an update.

First Real Estate Investment Trust announced a slight dip in their Q1 2024 financials, with a 2.7% decrease in rental and other income, and a 2.1% fall in net property and other income, which they attribute to foreign currency fluctuations. Despite these headwinds, the Trust maintained stable rental income due to stronger local currency earnings in Indonesia and Singapore. Investors can expect a distribution per unit of 0.60 Singapore cents to be paid on June 21, 2024.

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