---
title: "First Real Estate Investment Trust (AW9U.SG)"
type: "Symbol"
locale: "en"
url: "https://longbridge.com/en/quote/AW9U.SG.md"
symbol: "AW9U.SG"
name: "First Real Estate Investment Trust"
industry: "Equity Real Estate Investment Trusts (REITs)"
datetime: "2026-05-21T06:19:47.826Z"
locales:
  - [en](https://longbridge.com/en/quote/AW9U.SG.md)
  - [zh-CN](https://longbridge.com/zh-CN/quote/AW9U.SG.md)
  - [zh-HK](https://longbridge.com/zh-HK/quote/AW9U.SG.md)
---

# First Real Estate Investment Trust (AW9U.SG)

## Company Overview

First Real Estate Investment Trust is a healthcare real estate investment trust focused on investing in income producing real estate properties which are primarily used for healthcare and healthcare related purposes. First REIT is managed by First REIT Management Limited (the Manager), which is headquartered in Singapore. The Manager is 40% directly held by OUE Healthcare Limited and 60% directly held by OUE Limited, who together are its Sponsors. As at 31 December 2025, the Trust has a portfolio of 31 properties across Asia, with a total asset value of 1.02 billion dollars.

| Item | Detail |
|------|--------|
| Industry | Equity Real Estate Investment Trusts (REITs) |
| Exchange | SG Market |
| Website | [www.first-reit.com](https://www.first-reit.com) |

## Key Drivers
> *AI-analyzed key factors driving this stock's performance*


## Longbridge Financial Score™: C
> *Longbridge Financial Score™ — Proprietary multi-factor rating model by Longbridge*
> Updated: 2026-05-20T04:30:13.000Z

**Overall: C (0.56)**

**Industry**: Equity Real Estate Investment Trusts (REITs)

| Metric | Value |
|--------|-------|
| Industry Ranking | 23 / 42 |
| Industry Median | C |
| Industry Average | C |

- **Style**: Value - Stocks where the company's main business is in a mature stage.
- **Scale**: Small - The company's operation has a high degree of growth and volatility, making it easy to achieve high investment returns.

**Multi Score**: C

#### Style Score Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue YoY | -1.64% |  |
| Net Profit YoY | -22.13% |  |
| P/B Ratio | 0.89 |  |
| Dividend Ratio | 8.94% |  |

#### Size Score Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Market Cap | 496941481.20 |  |
| Revenue | 100495614.22 |  |

#### Multi Score Score: C

| Indicator | Value | Rating |
|-----------|-------|--------|
| ROE | 4.58% | C |
| Profit Margin | 28.83% | A |
| Gross Margin | 87.37% | A |
| Revenue YoY | -1.64% | D |
| Net Profit YoY | -22.13% | D |
| Total Assets YoY | -6.16% | D |
| Net Assets YoY | -11.35% | E |
| Cash Flow Margin | 236.68% | A |
| OCF YoY | -1.64% | D |
| Turnover | 0.09 | E |
| Gearing Ratio | 48.53% | C |

```chart-data:radar
{
  "title": "Longbridge Financial Score - First Real Estate Investment Trust",
  "chart_type": "radar",
  "dimensions": [
    {
      "name": "Style Score",
      "grade": "",
      "indicators": [
        {
          "name": "Revenue YoY",
          "value": "-1.64%",
          "rating": ""
        },
        {
          "name": "Net Profit YoY",
          "value": "-22.13%",
          "rating": ""
        },
        {
          "name": "P/B Ratio",
          "value": "0.89",
          "rating": ""
        },
        {
          "name": "Dividend Ratio",
          "value": "8.94%",
          "rating": ""
        }
      ]
    },
    {
      "name": "Size Score",
      "grade": "",
      "indicators": [
        {
          "name": "Market Cap",
          "value": "496941481.20",
          "rating": ""
        },
        {
          "name": "Revenue",
          "value": "100495614.22",
          "rating": ""
        }
      ]
    },
    {
      "name": "Multi Score",
      "grade": "C",
      "indicators": [
        {
          "name": "ROE",
          "value": "4.58%",
          "rating": "C"
        },
        {
          "name": "Profit Margin",
          "value": "28.83%",
          "rating": "A"
        },
        {
          "name": "Gross Margin",
          "value": "87.37%",
          "rating": "A"
        },
        {
          "name": "Revenue YoY",
          "value": "-1.64%",
          "rating": "D"
        },
        {
          "name": "Net Profit YoY",
          "value": "-22.13%",
          "rating": "D"
        },
        {
          "name": "Total Assets YoY",
          "value": "-6.16%",
          "rating": "D"
        },
        {
          "name": "Net Assets YoY",
          "value": "-11.35%",
          "rating": "E"
        },
        {
          "name": "Cash Flow Margin",
          "value": "236.68%",
          "rating": "A"
        },
        {
          "name": "OCF YoY",
          "value": "-1.64%",
          "rating": "D"
        },
        {
          "name": "Turnover",
          "value": "0.09",
          "rating": "E"
        },
        {
          "name": "Gearing Ratio",
          "value": "48.53%",
          "rating": "C"
        }
      ]
    }
  ]
}
```

## Valuation Analysis

| Metric | Current | Industry Ranking | High | Median | Low |
|--------|---------|-----------------|------|--------|-----|
| PE (TTM) | 18.19 | 20/42 | 18.58 | 15.59 | 15.07 |
| PB | 0.89 | 28/42 | 0.99 | 0.96 | 0.91 |
| PS (TTM) | 4.94 | 15/42 | 5.86 | 5.66 | 5.37 |
| Dividend Yield | 11.15% | 4/42 | 8.94% | 8.51% | 8.11% |

## Peer Comparison

| Rank | Name | Profit | Growth | Operation | Security | Cash | Rating |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 01 | Keppel DC Reit (AJBU.SG) | A | B | E | A | C | B |
| 02 | CapLand IntCom T (C38U.SG) | B | C | E | B | C | C |
| 03 | CapLand Ascendas REIT (A17U.SG) | B | C | E | C | C | C |
| 04 | Mapletree PanAsia Com Tr (N2IU.SG) | B | D | E | B | C | C |
| 05 | Mapletree Log Tr (M44U.SG) | B | D | E | C | C | C |

## Institutional View

### Analyst Rating Distribution

> As of 2026-04-27T16:00:00.000Z

Total Analysts: **1**

| Rating | Count | Percentage |
|--------|-------|-----------| 
| Overweight | 1 | 100% |

### Target Price Forecast

| Metric | Price |
|--------|-------|
| Current Price | 0.23 |
| Highest Target | 0.25 |
| Lowest Target | 0.25 |

## References

- [Company Overview — Profile, executives, shareholders, business breakdown](https://longbridge.com/en/quote/AW9U.SG/overview.md)
- [Financial Reports — Income, balance sheet, cash flow, dividends](https://longbridge.com/en/quote/AW9U.SG/norm.md)
- [Related News](https://longbridge.com/en/quote/AW9U.SG/news.md)

---

> **Disclaimer: This article is for reference only and does not constitute any investment advice.**