First REIT continues to announce a stable set of results for the first quarter.[Results here] A distribution of $0.0776 works up to a yield of 2.09% for the first quarter and an annualized yield of 8.4% at the current share price of $0.92.
A note to investors is that for this quarter and the last 2 quarters, they have been distributing a one time gain from the sale of their Adam road healthcare building. Thus the dividend yield is higher. Without those the quarter dividend yield would have been $0.0158, 1.7% and annualized $0.068, 7.4%.
That is still a pretty good yield although the share price have ran up 20%.
Net Debt to Asset remain at 10% making this one of the lowest geared. They can pay off their debts with 2.2 years of their profits if undistributed.
Net ......
First REIT continues to announce a stable set of results for the first quarter.[Results here] A distribution of $0.0776 works up to a yield of 2.09% for the first quarter and an annualized yield of 8.4% at the current share price of $0.92.
A note to investors is that for this quarter and the last 2 quarters, they have been distributing a one time gain from the sale of their Adam road healthcare building. Thus the dividend yield is higher. Without those the quarter dividend yield would have been $0.0158, 1.7% and annualized $0.068, 7.4%.
That is still a pretty good yield although the share price have ran up 20%.
Net Debt to Asset remain at 10% making this one of the lowest geared. They can pay off their debts with 2.2 years of their profits if undistributed.
Net ......
