TSE:FCR.UN

First Capital Realty (FCR.UN.TO)

23.01
+0.07 (0.31%)
as of Jul 21, 2026, 8:00:00 pm Market Open.
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Investor Insights
star iconJul 21, 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 positive attention among experts, with its recent announcements of a takeover and strong performance reflecting its potential for growth. The stock is highlighted for its high-quality urban portfolio across Canada, anchored by shopping centres and boasting impressive occupancy rates of 97%. This strong foundation allows for internal growth of approximately 5% and the potential for rent doubling. Moreover, it has been recognized for its resilience in challenging economic environments, showing the ability to renew leases well above historical averages, and providing a reliable 4.6% dividend to investors. Given these factors, many believe the stock presents a favorable investment opportunity, especially considering expectations for further mergers and acquisitions in the sector.

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Consensus
Positive
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Valuation
Undervalued
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PAST TOP PICK
(A Top Pick Aug 20/10. Up 23.01%. ) Continuing to do a great job in managing and growing cash flow. Probably fairly valued at these levels.
BUY
Inside cities with essential shopping stores. Management has a very significant interest in this. Constantly spending a third of their money for growth. Thinks very highly of them. Long-term growth.
BUY
Tend to be a lower risk in the shopping center area. Very good locations. Have been hurt in the past by spending quite a bit of money buying older buildings and putting them into the shopping centers. Slow growth, long-term.
PAST TOP PICK
(Top pick Sept. 27/10, Up 13.18%) Best known in Toronto for Liberty village.
PAST TOP PICK
(Top Pick Aug 3/10, Up 22.69%) Shopping centers with the essentials, not as much fashion. Coast to Coast, but most in the East.
BUY
Well-managed company. Anchors are Shoppers (SC-T) and Loblaws (L-T). Great executers of strategy. Reasonable at 13X AFFO. Doing more green developments.
PAST TOP PICK
(A Top Pick July 15/10. Up 25.1%.) Community shopping centers, big 6 markets across the country and great management team that owns 52%. At these levels this would be a Hold.
COMMENT
Best managed and best positioned public real-estate companies in Canada. Very strong alignment and ownership. CEO one of the great Canadian success stories in this space. Dividend is solid, they are value added, create space, new development. They focus on grocery store and pharmacy “anchors” in their shopping centers which creates stability. Fairly priced.
TOP PICK
In the shopping centres that are inside the big towns, not the suburbs. Development side will continue to be a big chunk and create value, but will be a smaller portion.
BUY
High quality neighbourhood shopping centres that are grocery or drug store anchored. At these levels probably offers a 10% total return. Management owns 52% of the company. Great assets. Stand to benefit a little bit from Target (TGT-N) coming in to Canada but Zellers isn’t a huge tenant for them. Good quality name.
BUY
Great managers and they take on assets and squeeze out a lot of the returns. Deal a lot with community open shopping centres. Trades at about a 10% premium to NAV. Last couple of quarters has been very good for them. Also likes their debt. About 6% yield.
TOP PICK
Spend a lot of money redeveloping older properties. Strong group. Management has a lot of stock and gradually growing their income. They are reinvesting a lot instead of distributing.
BUY
Shopping centres. Slow growth but he likes them a lot. Very good management. Top people in Canada and are backed up by a global group. Long-term hold.
BUY
Management team second to none. Big beneficiary of Target coming to Canada. They delivered, are conservative. In major urban centers.
BUY ON WEAKNESS
Shopping centres inside communities. Very good name but the chart is looking a little tired. Buy this for the long term. Conservative and good balance sheet.
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