Canada's First Capital REIT Q4 operating FFO per unit rises 7%

Overview

• Canada real estate trust's Q4 Operating FFO per unit grew 7% yr/yr

• Same Property NOI for Q4 increased 5.7% yr/yr

• Portfolio occupancy improved to 97.1%

Outlook

• First Capital did not provide specific financial guidance for 2026

Result Drivers

• SAME PROPERTY NOI - Total Same Property NOI increased 7.9% due to rental rate growth and higher occupancy

• LEASE RENEWAL RATES - Net rental rates increased 15.8% on lease renewals, driven by higher contractual growth rates

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the commercial reits peer group is "buy"

• Wall Street's median 12-month price target for First Capital Real Estate Investment Trust is C$22.00, about 8.2% above its February 9 closing price of C$20.33

• The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 14 three months ago

Press Release: ID:nCNW1jHCta

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.