First REIT started at "buy", $1.38 target by AmFraser

Stock Name: First Reit
Company Name: FIRST REAL ESTATE INV TRUST

Research House: AmFraser

Price Call: BUY

Target Price: 1.38

SINGAPORE (Jan 13): AmFraser Securities has started coverage on First Real Estate Investment Trust with a "buy" rating and $1.38 price target.

The healthcare REIT's projected 6.4% FY2015 yield is anchored by long master leases, with 95% of its rental income from Indonesia's healthcare sector backed by its sponsor Lippo Karawaci and Siloam Hospitals, according to AmFraser analysts Wong Hong Wei and Wilson Liew.