First Capital Real Estate Investment Trust (TSE:FCR.UN) Reaches New 1-Year High - Here's What Happened

Key Points

• First Capital Real Estate Investment Trust's stock reached a new 52-week high of C$19.35 during trading, reflecting a growth from its previous close at C$19.01.
• Analysts have upgraded their price targets for the stock, with several institutions predicting a target price increase to between C$21.00 and C$22.00, suggesting strong potential for growth.
• The company operates in Canada's urban real estate sector, focusing on mixed-use developments that benefit businesses and communities, and currently holds a market capitalization of C$4.08 billion.

First Capital Real Estate Investment Trust (TSE:FCR.UN - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The company traded as high as C$19.35 and last traded at C$19.24, with a volume of 297278 shares. The stock had previously closed at C$19.01.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of First Capital Real Estate Investment Trust from C$20.00 to C$22.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. TD Securities upped their price target on First Capital Real Estate Investment Trust from C$21.00 to C$22.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. CIBC raised their price objective on First Capital Real Estate Investment Trust from C$21.00 to C$22.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Desjardins upped their target price on First Capital Real Estate Investment Trust from C$20.00 to C$21.50 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, National Bankshares increased their price target on shares of First Capital Real Estate Investment Trust from C$19.50 to C$21.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$20.86.

First Capital Real Estate Investment Trust Trading Up 1.2%

The firm has a market capitalization of C$4.08 billion, a price-to-earnings ratio of -66.34, a price-to-earnings-growth ratio of -2.77 and a beta of 1.28. The company has a fifty day moving average price of C$18.36 and a 200-day moving average price of C$17.36. The company has a current ratio of 1.22, a quick ratio of 0.07 and a debt-to-equity ratio of 112.41.

About First Capital Real Estate Investment Trust

First Capital REIT is a developer, owner and operator of mixed-use urban real estate in Canada's populated centres. The company's focus is on creating thriving neighbourhoods that create value for businesses, residents, communities and investors.

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