1. Canada Stocks

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    Real estate investment trusts
First Capital Real Estate Investment Trust

First Capital Real Estate Investment Trust

14.44
EUR
-0.03
(-0.18%)
3.29EPS
4.26P/E
2.99BMarket Cap
Nov 02Next Earn
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
3.03
3.06
2.93
2.87
2.84
2.93
3.26
2.49
3.07
3.25
3.24
3.36
3.44
3.85
Basic EPS, GAAP
1.03
0.93
0.91
1.62
2.59
1.38
1.75
0.01
2.1
-0.75
-0.63
0.97
5.01
5.35
Free Cash Flow per Basic Share
1.02
1.28
1.09
1.09
1.1
1.14
1.17
0.81
1.14
1.18
1.07
1.1
0.97
1.14
Dividend per Share
0.84
0.84
0.85
0.85
0.86
0.85
0.89
0.7
0.47
0.55
0.87
0.86
0.89
0.99
Book Value per Share
15.93
16.04
16.14
17.23
19.01
19.54
20.31
19.27
21.05
20.04
18.54
18.59
22.68
22.78
Tangible Book Value per Share
15.93
16.04
16.14
17.23
19.01
19.54
20.31
19.27
21.05
20.04
18.54
18.59
22.68
22.78
Basic Weighted Avg Shares
208
212
224
236
245
249
229
270
220
214
212
212
212
192
Sales/Revenue/Turnover
632
648
655
676
694
730
747
673
675
693
688
714
731
741
Operating Margin (%)
57.66
56.27
56.71
57.05
57.47
56.8
55.89
55.23
53.2
54.8
54.32
54.41
54.46
46.56
Depreciation Expense
4
4
3
1
2
3
5
6
6
6
4
3
3
2
Net Income, GAAP
215
197
204
383
633
344
401
3
460
-160
-134
205
1,064
1,029
Effective Tax Rate (%)
19.3
19.38
21.51
19.01
16.26
18.36
- -
76.18
5.19
- -
- -
6.57
- -
- -
Profit Margin (%)
34.02
30.34
31.13
56.59
91.16
47.1
53.74
0.4
68.18
-23.08
-19.49
28.72
145.51
138.9
Working Capital
-284
-142
-277
-555
-270
-211
-187
-70
-234
-324
-131
-65
-20
-407
LT Debt
3,236
3,452
3,638
3,531
3,972
3,987
4,444
4,468
3,862
3,583
3,619
3,526
3,642
3,455
Total Equity
3,323
3,498
3,668
4,233
4,696
5,008
4,476
4,256
4,669
4,335
3,996
4,014
4,894
4,920
Return on Invested Capital (%)
4.32
4.11
3.81
3.93
3.85
3.77
- -
0.98
3.74
- -
- -
4.49
- -
- -
Return on Capital (%)
5.11
4.74
4.51
6.44
8.74
5.01
- -
0.39
6.52
- -
- -
4.48
- -
- -
Return on Common Equity (%)
6.55
5.8
5.73
9.77
14.32
7.14
8.53
0.06
10.4
-3.6
-3.26
5.2
24.28
23.33

Capital Structure

CAD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
348
620
634
LT Borrowings
3,634
3,376
3,447
LT Finance Leases
8
8
8
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
212
213
213
Market Capitalization
3,945
4,358
4,848

Working Capital

CAD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
550
565
500
Cash, Cash Equivalents & STI
57
27
32
Accounts Receivable, Net
13
18
17
Inventories
284
300
197
Total Current Liabilities
570
858
907
Payables & Accruals
146
149
163
ST Debt
348
620
634
Deferred Revenue
43
41
44

Growth Rates

CAD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.45%
3.42%
21.91%
Free Cash Flow
-1.22%
-0.78%
-11.58%
Net Income, GAAP
1,696.95%
3,388.93%
419.21%
Sales/Revenue/Turnover
1.19%
1.69%
2.48%
Total Cash Common Dividend
2.78%
5.67%
2.83%

Quarterly Revenue

CAD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
183
176
174
180
714
2025
184
180
- -
185
731
2026
190
186
- -
- -
- -

Quarterly Earnings Per Share

CAD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.35
0.08
0.38
0.15
0.97
2025
0.4
0.3
- -
6.45
5.01
2026
0.43
0.11
- -
- -
- -

Quarterly Dividends Per Share

CAD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.22
0.22
0.21
0.22
0.86
2025
0.22
0.22
- -
0.36
0.89
2026
0.23
0.23
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Adam E. Paul
Full Time Employees
372
Sector
Finance
Industry
Real estate investment trusts
Address
King Liberty Village Toronto ON Canada M6K 3S3
IPO Date
Mar 29, 1994
Website
fcr.ca
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Business
First Capital Real Estate Investment Trust (TSX: FCR.UN) owns, operates, develops and acquires grocery-anchored, open-air shopping centres situated in Canada's neighbourhoods with the strongest demographics. The REIT focuses on prime urban and suburban locations across major markets including Toronto, Vancouver, Calgary, Edmonton and Montreal, with a portfolio encompassing interests in 136 neighbourhoods totalling approximately 22 million square feet of gross leasable area and total assets valued at CAD 9.2 billion; key properties include Shops at King Liberty, Yorkville Village, Leaside Village, Edmonton Brewery District, Shops at New West, Liberty Village, Avenue and Lawrence, Bayside Village and Wilderton Centre. Major tenant categories comprise grocery stores, medical and personal services, restaurants, pharmacies and banks. Founded in 1994 as Centrefund Realty and headquartered at 85 Hanna Ave., Suite 400, Toronto, Ontario, the REIT converted from First Capital Realty in 2019 and maintains offices in Calgary, Montreal, Edmonton and Vancouver. First Capital emphasizes mixed-use developments integrating retail with residential and sustainable practices, alongside a capital allocation strategy involving selective dispositions of low-yielding assets, targeted acquisitions of core grocery-anchored centres and ongoing redevelopment investments exceeding CAD 500 million. In the past two years, the REIT completes strategic financings including CAD 250 million Series F senior unsecured debentures in November 2025, CAD 300 million Series E debentures in June 2025 and prior series issuances totalling over CAD 1 billion; announces a proposed internal reorganization via plan of arrangement receiving unitholder approval in November 2025 to simplify its structure; reports robust financial performance with 6% same-property NOI growth in Q3 2025 and Q1 2025 alongside 96.9% occupancy and strong leasing; executes property dispositions approaching CAD 750 million focused on development sites; pursues acquisitions of CAD 100-150 million in multi-tenant centres; and increases distributions by 3.0% effective January 2025 while renewing its normal course issuer bid.

Company News

Company News APIChatGPT

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