First Capital Real Estate Investment Trust
TSX:FCR.UN

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First Capital Real Estate Investment Trust Logo
First Capital Real Estate Investment Trust
TSX:FCR.UN
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Price: 17.14 CAD -1.95% Market Closed
Market Cap: 3.6B CAD

First Capital Real Estate Investment Trust
Investor Relations

Tucked into the fabric of Canada's bustling urban landscapes is First Capital Real Estate Investment Trust, a prominent player in the commercial real estate sector. First Capital REIT specializes in owning, operating, and developing mixed-use properties that are predominantly retail-focused, situated in densely populated neighborhoods. As a forward-thinking entity, the company strategically positions its assets in urban areas with strong demographic trends and income levels, thereby fostering a thriving environment for tenants while attracting staggering foot traffic. These locations typically house grocery-anchored shopping centers, which cater to everyday consumer needs, thereby reinforcing their significance to local communities and ensuring consistent demand for their spaces.

First Capital REIT’s financial model hinges on generating stable and growing cash flows through leasing its properties to a diverse mix of tenants. These range from well-known national and international retail chains to local businesses, providing a balanced tenant base. Moreover, the trust is active in the realm of property development and redevelopment, continuously seeking opportunities to enhance its portfolio by maximizing the value of its properties through both expansion and innovative use of space. This ability to dynamically adapt and upgrade its holdings, while capitalizing on urban growth trends, positions First Capital REIT to achieve steady financial performance, simultaneously benefitting its stakeholders and bolstering its market position.

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FCR.UN
S&P TSX Composite Index (Canada)

Earnings Calls

2025 Q1
May 7, 2025
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Strong Q1 Results Highlight Stability and Growth Potential
2025 Q1
May 7, 2025

In Q1 2025, FCR reported operating FFO of $69 million, reflecting robust leasing activity despite a slight year-over-year decrease. Key performance indicators demonstrated a 5.3% growth in same-property NOI, supported by record rents at $24.23 per square foot. FCR expects full-year NOI growth of 4% and remains on track for a 3% FFO per unit growth target over the strategic plan. Adjustments include a revised total disposition target of $750 million, down from $1 billion, reflecting market conditions. The company reported a debt-to-EBITDA ratio of approximately 8.9x, signaling improved financial health.

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Management

Mr. Adam E. Paul C.A., CPA
President, CEO & Trustee
No Bio Available
Mr. Neil William Edward Downey C.A., C.F.A., CPA
Executive VP of Enterprise Strategies & CFO
No Bio Available
Ms. Alison Harnick
Senior VP, General Counsel & Corporate Secretary
No Bio Available
Mr. Carmine Francella
Senior Vice President of Real Estate Services
No Bio Available
Mr. Matt Silcoff
Vice President of Investments
No Bio Available
Ms. Elle Agourias
Chief Accounting Officer
No Bio Available
Mr. Simon Streeter
Chief Information Officer
No Bio Available
Mr. Ryan Ng
Head of Finance & Treasury
No Bio Available
Ms. Michele Walkau
Senior Vice President of Brand & Culture
No Bio Available

Contacts

Address
ONTARIO
TORONTO
King Liberty Village, 85 Hanna Avenue, Suite 400
Contacts
+14165044114.0
fcr.ca