First Capital Real Estate Investment Trust (TSE:FCR.UN) Lowered to Hold Rating by Canaccord Genuity Group

Key Points

• Canaccord Genuity downgraded First Capital Real Estate Investment Trust from "buy" to "hold" while raising its price target to C$24.40, implying roughly a 3.6% upside from the current price.
• Analyst sentiment is mixed — four Buy and three Hold ratings with an average target of C$23.04 (consensus "Moderate Buy"); RBC and National Bank raised targets and kept Outperform ratings, while Raymond James cut to Market Perform.
• Shares traded at C$23.56 with a market cap of C$5.01B and a PE of 4.70; the company reported C$4.00 EPS on C$185.4M revenue last quarter but showed a negative net margin (−8.48%), negative ROE (−1.57%) and a high debt-to-equity ratio (112.41).

First Capital Real Estate Investment Trust (TSE:FCR.UN - Get Free Report) was downgraded by stock analysts at Canaccord Genuity Group from a "buy" rating to a "hold" rating in a research note issued to investors on Friday,BayStreet.CA reports. They currently have a C$24.40 price objective on the stock, up from their previous price objective of C$23.50. Canaccord Genuity Group's price objective would indicate a potential upside of 3.57% from the company's current price.

Several other research firms also recently issued reports on FCR.UN. Royal Bank Of Canada raised their price target on shares of First Capital Real Estate Investment Trust from C$22.00 to C$23.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. Raymond James Financial downgraded shares of First Capital Real Estate Investment Trust from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from C$21.75 to C$22.50 in a research note on Wednesday, February 18th. Finally, National Bank Financial lifted their target price on shares of First Capital Real Estate Investment Trust from C$23.00 to C$23.50 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of C$23.04.

First Capital Real Estate Investment Trust Trading Down 0.1%

Shares of FCR.UN stock traded down C$0.03 during trading hours on Friday, hitting C$23.56. 1,967,907 shares of the company's stock traded hands, compared to its average volume of 486,798. The stock's 50 day simple moving average is C$20.90 and its 200 day simple moving average is C$19.85. The stock has a market cap of C$5.01 billion, a PE ratio of 4.70, a price-to-earnings-growth ratio of -2.77 and a beta of 0.89. First Capital Real Estate Investment Trust has a 12 month low of C$16.08 and a 12 month high of C$23.84. The company has a quick ratio of 0.07, a current ratio of 1.22 and a debt-to-equity ratio of 112.41.

First Capital Real Estate Investment Trust (TSE:FCR.UN - Get Free Report) last released its quarterly earnings results on Tuesday, February 10th. The company reported C$4.00 earnings per share (EPS) for the quarter. The firm had revenue of C$185.38 million during the quarter. First Capital Real Estate Investment Trust had a negative net margin of 8.48% and a negative return on equity of 1.57%. On average, sell-side analysts anticipate that First Capital Real Estate Investment Trust will post 1.2480836 EPS for the current year.

First Capital Real Estate Investment Trust Company Profile

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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