First Capital is a leading developer, owner and manager of mixed-use real estate located in Canada's most densely populated cities.
First Capital Real Estate Investment Trust Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||CA$18.17|
|52 Week High||CA$11.59|
|52 Week Low||CA$18.64|
|1 Month Change||3.53%|
|3 Month Change||2.14%|
|1 Year Change||39.56%|
|3 Year Change||-6.92%|
|5 Year Change||-16.99%|
|Change since IPO||190.72%|
Recent News & Updates
|FCR.UN||CA REITs||CA Market|
Return vs Industry: FCR.UN exceeded the Canadian REITs industry which returned 35.4% over the past year.
Return vs Market: FCR.UN exceeded the Canadian Market which returned 28.6% over the past year.
Stable Share Price: FCR.UN is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: FCR.UN's weekly volatility (2%) has been stable over the past year.
About the Company
First Capital is a leading developer, owner and manager of mixed-use real estate located in Canada's most densely populated cities. First Capital's focus is on creating thriving urban neighbourhoods to generate value for businesses, residents, communities and our investors.
Is First Capital Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: FCR.UN (CA$18.17) is trading below our estimate of fair value (CA$29.19)
Significantly Below Fair Value: FCR.UN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: FCR.UN is poor value based on its PE Ratio (13.4x) compared to the Canadian REITs industry average (10x).
PE vs Market: FCR.UN is poor value based on its PE Ratio (13.4x) compared to the Canadian market (12.5x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate FCR.UN's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: FCR.UN is good value based on its PB Ratio (0.9x) compared to the CA REITs industry average (1.1x).
How is First Capital Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if FCR.UN's forecast earnings growth is above the savings rate (1.5%).
Earnings vs Market: Insufficient data to determine if FCR.UN's earnings are forecast to grow faster than the Canadian market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: FCR.UN's revenue is expected to decline over the next 3 years (-1.2% per year).
High Growth Revenue: FCR.UN's revenue is forecast to decline over the next 3 years (-1.2% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if FCR.UN's Return on Equity is forecast to be high in 3 years time
How has First Capital Real Estate Investment Trust performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FCR.UN has a large one-off gain of CA$139.0M impacting its June 30 2021 financial results.
Growing Profit Margin: FCR.UN's current net profit margins (44.2%) are higher than last year (29.3%).
Past Earnings Growth Analysis
Earnings Trend: FCR.UN's earnings have declined by 20.3% per year over the past 5 years.
Accelerating Growth: FCR.UN's earnings growth over the past year (40.7%) exceeds its 5-year average (-20.3% per year).
Earnings vs Industry: FCR.UN earnings growth over the past year (40.7%) exceeded the REITs industry 5.5%.
Return on Equity
High ROE: FCR.UN's Return on Equity (7%) is considered low.
How is First Capital Real Estate Investment Trust's financial position?
Financial Position Analysis
Short Term Liabilities: FCR.UN's short term assets (CA$766.7M) exceed its short term liabilities (CA$622.1M).
Long Term Liabilities: FCR.UN's short term assets (CA$766.7M) do not cover its long term liabilities (CA$5.1B).
Debt to Equity History and Analysis
Debt Level: FCR.UN's debt to equity ratio (105.7%) is considered high.
Reducing Debt: FCR.UN's debt to equity ratio has increased from 97.7% to 105.7% over the past 5 years.
Debt Coverage: FCR.UN's debt is not well covered by operating cash flow (5.3%).
Interest Coverage: FCR.UN's interest payments on its debt are not well covered by EBIT (2.4x coverage).
What is First Capital Real Estate Investment Trust current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: FCR.UN's dividend (2.38%) is higher than the bottom 25% of dividend payers in the Canadian market (1.67%).
High Dividend: FCR.UN's dividend (2.38%) is low compared to the top 25% of dividend payers in the Canadian market (4.58%).
Stability and Growth of Payments
Stable Dividend: FCR.UN's dividend payments have been volatile in the past 10 years.
Growing Dividend: FCR.UN's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (12952.6%), FCR.UN's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: FCR.UN's dividends in 3 years are forecast to be covered by earnings (52.3% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Adam Paul (46 yo)
Mr. Adam E. Paul, C.P.A., C.A., has been the Chief Executive Officer and President of First Capital Real Estate Investment Trust since February 16, 2015. Prior to joining the firm in February 2015, Mr. Pau...
CEO Compensation Analysis
Compensation vs Market: Adam's total compensation ($USD3.47M) is about average for companies of similar size in the Canadian market ($USD2.94M).
Compensation vs Earnings: Adam's compensation has been consistent with company performance over the past year.
Experienced Management: FCR.UN's management team is seasoned and experienced (5.3 years average tenure).
Experienced Board: FCR.UN's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: FCR.UN insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
First Capital Real Estate Investment Trust's employee growth, exchange listings and data sources
- Name: First Capital Real Estate Investment Trust
- Ticker: FCR.UN
- Exchange: TSX
- Founded: 1993
- Industry: Retail REITs
- Sector: Real Estate
- Market Cap: CA$3.991b
- Shares outstanding: 219.62m
- Website: https://www.fcr.ca
Number of Employees
- First Capital Real Estate Investment Trust
- King Liberty Village
- 85 Hanna Avenue
- M6K 3S3
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/09/22 22:36|
|End of Day Share Price||2021/09/22 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.