First REIT Pays Part of Performance Fee in New Units, Lifting Manager’s Stake

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

First Real Estate Investment Trust has issued 2,242,541 new units to its manager as partial payment of the performance component of management fees for the period from 1 January 2025 to 31 March 2025. The units were issued at S$0.2739 each, with the remaining S$614,231.96 of the performance fee settled in cash, in line with the trust deed provisions.

The issue price was based on the 10-day volume-weighted average price on the Singapore Exchange immediately before the fee accrual period end. Following this issuance, the manager’s stake has risen to 237,851,017 units, representing 11.23% of the trust’s 2,117,631,735 units in issue, modestly increasing alignment between the manager and unitholders while slightly diluting existing investors.

More about First Real Estate Investment

First Real Estate Investment Trust is a Singapore-listed real estate investment trust focused on healthcare and related properties. Managed by First REIT Management Limited, it invests in income-producing real estate assets, primarily in Asia, and generates stable rental income for its unitholders through long-term leases.

YTD Price Performance: -10.78%

Average Trading Volume: 2,208,056

Technical Sentiment Signal: Sell

Current Market Cap: S$507.7M

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