Right now, First Real Estate Investment Trust‘s (SGX: AW9U) unit price stands at S$1.01. 

At that price, according to our newly-launched REITs tool, First REIT is valued at a price-to-book (PB) ratio of 1.0 and a dividend yield (technically known as distribution yield for REITs) of 8.5%. 

Would I buy First REIT at the current price and valuation?

Let’s explore using my 10-step guide to pick the best Singapore REITs.

As a summary, here are the 10 steps I use to pick the best Singapore REITs:

Growth in Gross Revenue and Net Property Income Growth in Distribution Per Unit Property Yield of Between 5% and 9% Gearing Ratio of Below 40% Interest Coverage Ratio of Above 5x Healthy Portfolio Occupancy Rate Positive Rental Reversions Presence of Growth Prospects Acceptable Price-to-Book Ratio Distribution Yield of Above 5% Business Background

First REIT is a healthcare REIT that owns 20 properties —

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