First Capital Real Estate Investment Trust (TSE:FCR.UN) Cut to "Market Perform" at BMO Capital Markets

Key Points

• BMO Capital Markets downgraded First Capital Real Estate Investment Trust from "outperform" to "market perform" but raised its price target to C$24.20, implying only about a 2.98% upside from the prior close.
• Analysts are split—four Buy and four Hold—resulting in a consensus rating of "Moderate Buy" with an average price target of C$23.19 as several firms recently changed ratings or targets.
• The stock traded at C$23.50 (market cap C$4.99B) with a P/E of 4.69, high debt-to-equity (112.41), and recent quarterly EPS of C$0.43 amid a negative net margin and return on equity.

First Capital Real Estate Investment Trust (TSE:FCR.UN - Get Free Report) was downgraded by equities research analysts at BMO Capital Markets from an "outperform" rating to a "market perform" rating in a research report issued on Thursday,BayStreet.CA reports. They presently have a C$24.20 price target on the stock, up from their prior price target of C$22.00. BMO Capital Markets' target price would suggest a potential upside of 2.98% from the stock's previous close.

A number of other analysts have also commented on the company. National Bank Financial lifted their price objective on First Capital Real Estate Investment Trust from C$23.00 to C$23.50 and gave the stock an "outperform" rating in a research report on Friday, February 13th. Canadian Imperial Bank of Commerce downgraded shares of First Capital Real Estate Investment Trust from an "outperformer" rating to a "neutral" rating and upped their target price for the company from C$22.50 to C$24.40 in a research report on Friday, April 17th. Raymond James Financial cut shares of First Capital Real Estate Investment Trust from an "outperform" rating to a "market perform" rating and lifted their price target for the stock from C$21.75 to C$22.50 in a research report on Wednesday, February 18th. Royal Bank Of Canada boosted their price target on shares of First Capital Real Estate Investment Trust from C$22.00 to C$23.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Finally, Canaccord Genuity Group lowered shares of First Capital Real Estate Investment Trust from a "buy" rating to a "hold" rating and increased their price objective for the company from C$23.50 to C$24.40 in a report on Friday, April 17th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, First Capital Real Estate Investment Trust currently has a consensus rating of "Moderate Buy" and an average price target of C$23.19.

First Capital Real Estate Investment Trust Trading Down 0.1%

FCR.UN traded down C$0.02 during mid-day trading on Thursday, reaching C$23.50. The stock had a trading volume of 364,904 shares, compared to its average volume of 538,409. The stock has a market capitalization of C$4.99 billion, a P/E ratio of 4.69, a P/E/G ratio of -2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 112.41, a quick ratio of 0.07 and a current ratio of 1.22. The firm's fifty day simple moving average is C$21.58 and its two-hundred day simple moving average is C$20.18. First Capital Real Estate Investment Trust has a 52 week low of C$16.98 and a 52 week high of C$23.84.

First Capital Real Estate Investment Trust (TSE:FCR.UN - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported C$0.43 earnings per share for the quarter. First Capital Real Estate Investment Trust had a negative return on equity of 1.57% and a negative net margin of 8.48%.The company had revenue of C$189.71 million during the quarter. On average, equities analysts predict that First Capital Real Estate Investment Trust will post 1.2480836 EPS for the current year.

About First Capital Real Estate Investment Trust

First Capital owns and operates, acquires, and develops open-air grocery-anchored shopping centres in neighbourhoods with the strongest demographics in Canada.

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