Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-OCBC downgrades First REIT

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STOCKS NEWS SINGAPORE-OCBC downgrades First REIT Apr 23rd 2012, 02:10 Sun Apr 22, 2012 10:10pm EDT OCBC Investment Research cut its rating on healthcare real estate investment trust First REIT to hold from buy due to the strong unit price performance this year, but raised its price target to S$0.935 from S$0.89. First REIT units were down 0.5 percent at S$0.92, having risen 22 percent so far this year. While the hospitals owned by First REIT and operated by its sponsor, Lippo Karawaci, continued to grow with higher revenue in 2011 fiscal year than a year ago, the growth rates of some of these hospitals have eased partly due to the higher base effect, OCBC said. OCBC said organic growth for First REIT would likely be relatively stable in 2012 and it expects base rents for the company's Indonesian assets to rise 2 percent. For related company statement, click: link.reuters.com/han77s 0941 (0141 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 08:37 STOCKS NEWS SINGAPORE-Index futures up 0.2 pct Singapore index futures rose 0.2 percent early on Monday, indicating the benchmark Straits Times Index .FTSTI would open higher. Asian shares and the euro steadied on Monday after the IMF secured new funding to prevent the contagion of the euro zone's debt crisis, with investors turning to Chinese data to gauge the market's resilience to risk. 0836 (0036 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) Link this Share this Digg this Email Reprints

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