Investors would naturally assume that some of the most resilient assets would be hospitals and clinics. Especially during a pandemic.
After all, countries are allowing essential services such as healthcare, food and beverage and data centres to continue operating, unlike many other businesses.
Many industries, such as hotels, travel and tourism, to name a few, have been adversely impacted.
That said, investors in First REIT (SGX: AW9U), an owner of Indonesian-based hospitals, have seen their investment shrivel by 40% year to date, as the REIT’s share price tumbled from S$1.00 to S$0.60.
The REIT’s portfolio comprises 16 properties in Indonesia (12 hospitals, two integrated hospitals and malls, one integrated hotel and hospital and one hotel and country club), three nursing homes in Singapore and one hospital in South Korea.
These assets were valued at S$1.34 billion as of ...