First REIT Pays Manager Performance Fee With New Units, Lifting Stake to 11.07%

First Real Estate Investment ( (SG:AW9U) ) has provided an announcement.

First Real Estate Investment Trust has issued 2,378,140 new units to its manager as partial payment of the performance component of management fees for the quarter from 1 October to 31 December 2024. The units were priced at S$0.2533 each, based on the 10-day volume weighted average price on the Singapore Exchange, with the remaining S$602,383.11 of the performance fee settled in cash.

Following this issuance, the manager now holds 234,032,362 units, representing 11.07% of First REIT’s 2,113,813,080 units in issue, modestly increasing its equity stake. The move underscores the alignment of interests between the manager and unitholders through equity-based compensation, while slightly diluting existing unitholders as part of routine fee payment practices common among Singapore-listed REITs.

The most recent analyst rating on (SG:AW9U) stock is a Hold with a S$0.28 price target. To see the full list of analyst forecasts on First Real Estate Investment stock, see the SG:AW9U Stock Forecast page.

More about First Real Estate Investment

First Real Estate Investment Trust is a Singapore-listed real estate investment trust focused on healthcare and related real estate assets. Managed by First REIT Management Limited, it invests in income-producing properties and derives returns for unitholders through rental income and asset management in the regional healthcare property market.

Average Trading Volume: 1,349,620

Technical Sentiment Signal: Buy

Current Market Cap: S$570.1M

See more data about AW9U stock on TipRanks’ Stock Analysis page.