First Capital Real Estate Investment Trust

OTCPK:FCXX.F Stock Report

Market Cap: US$2.5b

First Capital Real Estate Investment Trust Valuation

Is FCXX.F undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of FCXX.F when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FCXX.F ($13.5) is trading below our estimate of fair value ($15.7)

Significantly Below Fair Value: FCXX.F is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FCXX.F?

Key metric: As FCXX.F is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for FCXX.F. This is calculated by dividing FCXX.F's market cap by their current earnings.
What is FCXX.F's PE Ratio?
PE Ratio10.4x
EarningsCA$346.65m
Market CapCA$3.61b

Price to Earnings Ratio vs Peers

How does FCXX.F's PE Ratio compare to its peers?

The above table shows the PE ratio for FCXX.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average28.8x
ROIC Retail Opportunity Investments
38.2x-41.3%US$2.3b
UE Urban Edge Properties
10.2x-56.5%US$2.8b
SKT Tanger
40.3x3.9%US$3.9b
GTY Getty Realty
26.5x11.4%US$1.7b
FCXX.F First Capital Real Estate Investment Trust
10.4xn/aUS$3.6b

Price-To-Earnings vs Peers: FCXX.F is good value based on its Price-To-Earnings Ratio (10.4x) compared to the peer average (28.8x).

Price to Earnings Ratio vs Industry

How does FCXX.F's PE Ratio compare vs other companies in the US Retail REITs Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SITC SITE Centers
1.1x-118.9%US$805.85m
RVIC Retail Value
0.2xn/aUS$5.72m
No more companies available in this PE range
FCXX.F 10.4xIndustry Avg. 34.4xNo. of Companies4PE020406080100+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: FCXX.F is good value based on its Price-To-Earnings Ratio (10.4x) compared to the US Retail REITs industry average (34.3x).

Price to Earnings Ratio vs Fair Ratio

What is FCXX.F's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FCXX.F PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.4x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate FCXX.F's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst FCXX.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$13.50
US$14.03
+3.9%
4.7%US$15.24US$12.99n/a10
Dec ’25US$12.58
US$14.58
+15.9%
4.1%US$15.44US$13.47n/a10
Nov ’25US$12.55
US$14.58
+16.2%
4.1%US$15.44US$13.47n/a10
Oct ’25US$13.77
US$13.90
+1.0%
4.1%US$14.72US$12.88n/a9
Sep ’25US$12.80
US$13.26
+3.6%
3.3%US$13.71US$12.62n/a9
Aug ’25US$11.84
US$13.17
+11.3%
3.2%US$13.70US$12.61n/a9
Jul ’25US$10.55
US$12.90
+22.2%
3.1%US$13.53US$12.25n/a9
Jun ’25US$10.69
US$12.90
+20.6%
3.1%US$13.53US$12.25n/a9
May ’25n/a
US$12.96
0%
3.4%US$13.81US$12.36n/a9
Apr ’25US$11.56
US$13.20
+14.2%
3.8%US$13.96US$12.49n/a9
Mar ’25US$11.68
US$13.39
+14.7%
4.2%US$14.07US$12.59n/a9
Feb ’25US$12.05
US$12.49
+3.7%
2.8%US$13.05US$11.93n/a9
Jan ’25US$11.54
US$12.39
+7.4%
4.3%US$13.12US$11.25n/a9
Dec ’24US$10.14
US$11.91
+17.5%
4.6%US$12.53US$11.05US$12.589
Nov ’24n/a
US$11.86
0%
7.4%US$13.71US$10.82US$12.558
Oct ’24US$9.82
US$13.28
+35.2%
6.3%US$14.08US$11.12US$13.779
Sep ’24n/a
US$13.50
0%
6.6%US$14.23US$11.23US$12.809
Aug ’24US$10.92
US$14.45
+32.3%
5.3%US$15.92US$13.27US$11.848
Jul ’24US$10.75
US$14.74
+37.1%
5.4%US$15.92US$13.65US$10.558
Jun ’24n/a
US$14.12
0%
7.1%US$15.51US$12.19US$10.699
May ’24n/a
US$14.25
0%
7.9%US$16.27US$12.20n/a9
Apr ’24US$11.59
US$14.25
+23.0%
7.9%US$16.27US$12.20US$11.569
Mar ’24US$13.04
US$14.35
+10.0%
8.4%US$16.34US$12.26US$11.688
Feb ’24n/a
US$14.00
0%
7.1%US$15.68US$11.95US$12.058
Jan ’24n/a
US$13.87
0%
5.5%US$15.38US$12.45US$11.548
Dec ’23n/a
US$13.65
0%
4.0%US$14.19US$12.37US$10.148

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/26 19:57
End of Day Share Price 2024/12/26 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

First Capital Real Estate Investment Trust is covered by 20 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Michael MarkidisBMO Capital Markets Equity Research
Karine MacIndoeBMO Capital Markets Equity Research
Mark RothschildCanaccord Genuity