TSE:FCR.UN

First Capital Realty (FCR.UN.TO)

22.60
-0.10 (0.46%)
as of Aug 31, 2026, 8:00:00 pm Market Open.
179 watching
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Investor Insights
star iconAug 31, 2026, 12:00 am

This summary was created by AI, based on 3 opinions in the last 12 months.

First Capital Realty (FCR.UN-T) has garnered attention from experts for its strong performance and strategic positioning in the market. With a recent takeover announcement and significant appreciation in its stock price, the company stands out as a solid investment opportunity within the real estate sector. Its urban portfolio is highlighted for quality and stability, achieving impressive occupancy rates of 97%. The ability to double rents and an internal growth rate of 5%, alongside a 4.6% dividend yield, reinforces its appeal to investors looking for both growth and defensiveness. Experts believe that further mergers and acquisitions are likely within the sector, suggesting continued positive momentum for FCR.UN-T.

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Consensus
Positive
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Valuation
Undervalued
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BUY
Has come off in the last 6 months because the interest rates have hurt the overall REIT market. Their properties are anchored by Shoppers Drug Mart, smaller supermarkets, etc. Have done a great job of growing.
TOP PICK
First Capital Bond. (5.08% June 21/12.) Deal mainly in the communities of large cities. Anchored by supermarkets. From that capital structure, it is still pretty conservative. You can pick up 130 basis points above the Government of Canada and still have investment-grade bonds. Have the ability to earn around 5.5%.
PAST TOP PICK
(A Top Pick Dec 8/06. Up 2.9%.) Excellent management. Diversified. Well-managed and well located.
PAST TOP PICK
Fundamentals are fantastic. One of the few companies that issue unsecured bonds.
TOP PICK
Shopping center based real estate outdoor malls. Focused on the bottom line. Debt to asset is 60%.
BUY
Dividend of 4.5%. Good locations consisting of a grocery store, drugstore, bank, etc. Performance has been slow, but long-term they look good. Reducing their debt.
PAST TOP PICK
(A Top Pick Dec 8/06. No change.) Very good and very steady. Good defensive play.
BUY
Builder, developer and owner of community strip malls, usually anchored by super markets. Good management. Probably has more value.
TOP PICK
Good yield at about 4.5%.
TOP PICK
Neighbourhood, grocery anchored mall focused. Substantial dividend. Their specialty is the acquisition and development of grocery anchored malls. Principles own about 50% of the outstanding shares.
BUY
Portfolio of retail assets, shopping malls, etc. There are 2 large controlling shareholders will own about 65%. Should continue to perform well as long as pension funds and private equities continue to put hard money into real estate.
BUY ON WEAKNESS
Real estate operating company. Retail oriented. Probably the best management team in the business.
TRADE
Formation Capital is one of his clients. It is the only pure cobalt mining company around. They are waiting for one last permit. The company has been around for a while and has a well managed team.
BUY
Has a strong buy rating on this. A premier owner of grocery anchored retail centres. Good management team. Payout ratio is below that of the REIT sector. A great name to own.
HOLD
He likes First Capital Realty a lot. This was a previous pick. They have brought their debt down. They are great managers. Problems trading- more expensive. Yield is 5%. Not a trust so the dividend is taxed. Not considering selling it.
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