Excluding the new rights units issued, the adjusted DPU would be 1.27 cents for 1Q 2021, a 31.7% decline from the previous year.
The distribution payment date will be on June 28.
SEE: Keppel REIT's Ocean Financial Centre first commercial building to achieve WELL health-safety rating
Distributable income for the period came in at $10.4 million, 30.5% lower y-o-y from $14.9 million previously.
The lower distributable income follows lower rental and other income, which declined 33% y-o-y to $19.3 million, largely attributable to the restructured master lease agreements of 14 Indonesia hospitals which took effect from Jan 1.
To that end, net property and other income fell 33.9% y-o-y to $18.6 million.
In its business outlook, the manager anticipates that the healthcare sector will gradually recover as the vaccination programme continues and the Indonesia government rolls out a record state budget to aid economic recovery.
As at 11.32am, units in First REIT were up 0.5 cents or 1.85% to 27.5 cents.
