TSE:FCR.UN
First Capital Realty (FCR.UN.TO)
23.33
+0.06 (0.26%)
as of Jun 8, 2026, 3:41:34 pm Market Open.
179 watching
Financials 
Technical Analysis 0
Investor Insights
Jun 8, 2026, 12:00 amThis summary was created by AI, based on 4 opinions in the last 12 months.
First Capital Realty (FCR.UN-T) has garnered significant attention from experts, highlighting its strong positioning in the Canadian real estate market. The company boasts a high-quality urban portfolio, primarily anchored by shopping centres, and enjoys impressive occupancy rates of around 97%. Experts note its defensive nature in the face of economic challenges, with potential for substantial internal growth and rent increases. Additionally, the recent announcement of a takeover adds to the optimism surrounding the stock, suggesting future mergers and acquisitions in the sector. Overall, FCR.UN-T combines stability with growth potential in a favorable market segment, making it a compelling option for investors.
Consensus
Positive
Valuation
Undervalued
Similar
KRG, KRG
BUY
Is an excellent company. They carved out the US assets from the Canadian operations. Likes the management team. The upside is there. The TLF program has been supporting the CMBS markets like never before and it will be interesting to see how the CMBS market reacts once the TLF program is withdrawn. Then the credit spreads and cap rates for REITs will get impacted accordingly.
property mngmntinvestment
TOP PICK
Shopping centres across Canada. Totally focused management. 6.8% dividend yield. About 85% payout.
Charles DillinghamOwned
property mngmntinvestment
PAST TOP PICK
(A Top Pick May 28/08. Up 8%.) 5.08% Bond due June 21/12.
Paul Gardner, CFAOwned
property mngmntinvestment
TOP PICK
(A Top Pick June 2/08. Down 20.89%.) One of the few that has a negative rate of return year-to-date but has some of the best management and structuring. 7.3% yield. Low payout ratio.
Charles DillinghamOwned
property mngmntinvestment
BUY
Owns about 17% of a US REIT Equity One plus interests in a number of operating companies. Entities under this company that own these are going to be spun off to existing shareholders. Regarding this company, they are cleaning up the balance sheet to give a clean play on Canadian shopping centres.
Dennis Mitchell, CFAOwned
property mngmntinvestment
TOP PICK
(A Top Pick June 2/08. Down 24.91%.) Small shopping centres. Steady growth. Very good at acquiring properties. Very good management. US holdings have hurt them and they are working to get rid of it. 7.8% distribution is safe.
Charles DillinghamOwned
property mngmntinvestment
TOP PICK
(A Top Pick June 2/08. Down 22.66%.) Very good management that has been disappointed on its performance. In spite of the economy, it should be a survivor. Conservative market and conservative management. Yield of about 7.6%. Payout ratio of about 85%.
Charles DillinghamOwned
property mngmntinvestment
PARTIAL BUY
Dominant owner of neighbourhood convenience shopping centres. Very stable tenants such as banks, Shoppers Drugs, etc. Distribution is sustainable. Expect some downside volatility so he would pick away at it over the summer.
Dennis Mitchell, CFAOwned
property mngmntinvestment
STRONG BUY
Grocery anchored neighbourhood community shopping centres. Biggest tenants are Sobey’s, Loblaws and banks. One of the best management teams in Canada. Would Buy at $15.50 or less Sell at the $17-$18 range. 97% occupied. (See Top Picks.)
Dennis Mitchell, CFAOwned
property mngmntinvestment
TOP PICK
Owner, operator and developer in neighbourhood shopping malls and anchored by large grocery stores, drugstores and banks. Good management.
Beth Hamilton-KeenOwned
property mngmntinvestment
PAST TOP PICK
(A Top Pick Dec 7/07. Down 15%.) Great name. Have grown cash flow. 6.1% yield is safe. Buy on weakness.
Dennis Mitchell, CFAOwned
property mngmntinvestment
TOP PICK
One of the largest owners of anchored regional shopping centres in fast growing metropolitan areas. 7% yield. Well-managed. Good long-term play.
Bill MacLachlanOwned
property mngmntinvestment
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