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

First Capital Real Estate Investment Trust

10/02/2026 22:10

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

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Net Income
C$849.50 mln
Q4 Operating FFO
C$72.30 mln
Q4 Operating FFO Per Share
C$0.34


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

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)