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    Real Estate

  3. •

    REIT - Residential
Firm Capital Apartment Real Estate Investment Trust

Firm Capital Apartment Real Estate Investment Trust

FCA-UN.V
Firm Capital Apartment Real Estate Investment TrustCA flagToronto Stock Exchange Ventures
4.35
CAD
- -
- -
33.08MMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
6.49
4.63
1.99
2.11
0.94
0.66
0.62
0.53
0.77
1.52
1.56
0.97
0.8
0.8
Basic EPS, GAAP
-8.63
-4.45
-10.32
-2.69
0.28
0.9
1.02
0.73
0.51
-1.86
-1.15
-0.45
-0.93
-1.25
Free Cash Flow per Basic Share
-7.99
-2.18
-2.44
-1.49
-0.11
0.11
0.1
0.02
0.41
0.41
-0.11
0.03
-0.07
-0.21
Dividend per Share
- -
- -
- -
- -
0.02
0.22
0.23
0.25
0.24
0.12
- -
- -
- -
- -
Book Value per Share
181.46
20.71
12.21
8.11
7.95
8.61
9.39
9.84
10.15
8.17
7.02
6.57
5.64
5.31
Tangible Book Value per Share
181.46
20.71
12.21
8.11
7.95
8.61
9.39
9.84
10.15
8.17
7.02
6.57
5.64
5.31
Basic Weighted Avg Shares
1
2
2
2
5
6
7
8
8
8
8
8
8
8
Sales/Revenue/Turnover
6
10
4
5
5
4
4
4
6
12
12
7
6
6
Operating Margin (%)
-29.53
-10.71
25.24
17.01
5.89
6.01
16.84
7.45
13.8
28.81
21.6
9.3
9.06
10.39
Depreciation Expense
3
1
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Income, GAAP
-8
-9
-20
-6
1
6
7
6
4
-14
-9
-3
-7
-9
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
12.44
- -
- -
- -
- -
- -
Profit Margin (%)
-133.02
-96.15
-518.95
-127.39
29.25
136.11
164.23
135.86
65.34
-121.83
-73.48
-46.58
-115.58
-156.42
Working Capital
5
26
12
19
10
3
5
2
-10
-31
52
51
50
49
LT Debt
56
61
38
35
18
18
31
29
34
58
24
29
29
29
Total Equity
49
45
25
35
49
60
65
76
77
62
53
50
43
40
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
0.3
0.62
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
7.21
5.06
- -
- -
- -
- -
- -
Return on Common Equity (%)
-32.62
-19.57
-56.46
-19.56
3.19
10.38
11.3
7.95
5.02
-20.28
-15.08
-6.63
-15.23
-21.04

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
29
29
29
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
8
8
8
Market Capitalization
23
22
22

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
57
56
55
Cash, Cash Equivalents & STI
6
5
4
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
7
6
6
Payables & Accruals
7
6
6
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.26%
-10.49%
-14.15%
Free Cash Flow
154.44%
394.53%
-367.76%
Net Income, GAAP
-35.68%
-98.35%
106.31%
Sales/Revenue/Turnover
9.63%
17.44%
-16.86%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2
2
2
1
7
2025
2
2
2
2
6
2026
1
2
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.17
-0.37
0.11
- -
-0.45
2025
-0.01
-0.01
-0.72
- -
-0.93
2026
-0.06
-0.27
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Sandy Ivan Poklar
Sector
Real Estate
Industry
REIT - Residential
Address
163 Cartwright Avenue Toronto ON Canada M6A 1V5
IPO Date
Aug 13, 2007
Website
firmcapital.com
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Business
Firm Capital Apartment Real Estate Investment Trust is a Canada-based real estate investment trust that invests primarily in U.S. multi-residential real estate and related real estate credit opportunities. The Trust’s principal activities comprise the acquisition, ownership and disposition of income-producing multifamily residential properties in major U.S. cities, either directly or through joint ventures with local operating partners that generally provide property-management services; the provision of mortgage debt and equity capital for multi-residential and other real estate assets; bridge mortgage financing; land and construction financing; investment-property financing; mezzanine financing; distressed-debt acquisitions and restructurings; bridge-equity financings; joint-venture capital; and capital for income-producing and development real estate assets. Its mortgage-capital customers include landlords, developers, builders, real estate investment trusts and capital-markets participants. The Trust operates through real estate equity and mortgage-capital investment platforms and focuses on deploying capital across debt and equity investments in the United States. Firm Capital Apartment Real Estate Investment Trust was established in 2012 and is headquartered in Toronto, Ontario, Canada; it is affiliated with the Firm Capital organization, a boutique alternative private-equity real estate firm founded in 1988. The Trust’s units trade on the TSX Venture Exchange under FCA.U in U.S. dollars and FCA.UN in Canadian dollars. In 2026, the Trust continues its strategic review and has stated that it expects to dispose of its remaining assets, after which it may return capital to unitholders and/or pursue the sale, repurposing or reutilization of the Trust as an alternative platform, including a newly developed or third-party finance-company initiative. As an interim strategic step, the Trust has announced its intention to change its name to Northvest Financial Trust, subject to exchange approval, to reflect its proposed business model and strategic direction.